Housing Affordability the focus of Pre-Budget Submission by REIA
The Real Estate Institute of Australia has put forward a Pre-Budget Submission to the Commonwealth Government identifying a range of areas which affect housing affordability that need to be addressed in the 2011/12 Budget. REIA’s submission calls on the Government to: • Retain current arrangements for negative gearing of property investments; • Ensure that the family home will not be subjected to Capital Gains Tax (CGT); • Commit to no increase in Capital Gains Tax on property investment; • Remove stamp duty on property transactions; • Review the First Home Owners Grant (FHOG); • Allow first home buyers access to their superannuation for the purchase of a home, and; • Monitor the Housing Affordability Fund (HAF) and National Rental Affordability Scheme (NRAS) to observe their effects on housing supply and conduct a review which considers additional measures to bridge the demand - supply imbalance The REIA urges the Government to review the amount curren...