Baird should butt out of federal taxation debate: Malcolm Gunning

GUEST OBSERVER

NSW Premier Mike Baird should take care of his own backyard rather than attempting to interfere in federal politics.

The comment’s follow Mr Baird’s address to the National Press Club in Canberra (29 November 2016) when he called for changes to negative gearing to be considered.

Mr Baird is attempting to deflect attention away from what he and his government have control over, stamp duty and land tax.

If he is serious about making comments in regard to taxation reform he needs to start looking in his own backyard and conduct a review of these outdated and unfair taxes.

Mr Baird must butt out of the federal taxation debate, stop pointing the figure at someone else and take responsibility for first homebuyers in NSW who are struggling to get onto the property ladder.

It is time for Mr Baird and his government to make the tough decision to stop reaping the rewards of a failure to review stamp duty that is filling government coffers at record rates and bring it back to levels that were intended.

Currently upwards of 25 percent of the cost of the purchase price of a new residential property goes on local, state and federal taxes, including GST. This is what is impeding turnover of property in NSW. It is time to look after the best interests of the people of this state.

Malcolm Gunning is the immediate past president of the Real Estate Institute of NSW and can be contacted here.