REIA urges government to retain negative gearing to encourage property investment and place downward pressure on rents.

The real estate industry has urged the Government to retain negative gearing in May, when Treasurer Joe Hockey will announce his second budget. In its pre-budget submission, the Real Estate Institute of Australia has defended the measure, saying it helps renters and investors alike.

“The evidence is clear that both negative gearing and the capital gains tax discount (CGT) feed the supply-side pipeline at a time of a chronic under-supply of houses in Australia,” said REIA CEO Amanda Lynch. “Any alteration to the current arrangements would likely result in a need for a greater investment by the Government in social housing and could potentially increase rents – as recognised by the Henry Tax Review in 2010, which stated that the current provisions placed downward pressure on rents.”

The REIA’s submission has eight recommendations. Along with the retention of negative gearing, these include abolishing conveyance stamp duties and replacing them with an efficient source of revenue
for states and territories; not increasing capital gains tax on property investments; establishing a scheme to encourage young Australians to access their superannuation as a first home deposit; a uniformed approach to the provision of assistance to first home buyers for both new and established homes; continued funding for the Industry Skills Fund; better utilization of private investment to improve the supply of housing for social housing tenants transitioning to private rental; and a mechanism to ensure the availability of reliable data on housing demand and supply to assist in formulating effective policies.

Best Regards Linda & Carlos Debello “Your Local Property Management Specialist” LJ Gilland Real Estate Pty Ltd ( PO BOX 19 ZILLMERE 4034 (07) 3263 6085 0400 833 800 (Mob 1) 0413 560 808 (Mob 2) 0409 995 578 (Linda)

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About ljgrealestate 据联大

Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085.
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