REIA welcomes no change on property taxes in Hockey 2015 budget

Real Estate Institute of Australia (REIA) CEO, Amanda Lynch, has welcomed the 2015-16 Budget as a win for her small business estate agency members.

But also one that importantly retains key tax arrangements that benefit housing investment.

Ms Lynch said the generous asset depreciation measures would particularly benefit the real estate sector

“The government is to be commended for ensuring stability within the sector in continuing the current tax arrangements as they relate to both Capital Gains Tax and negative gearing.”

“With other sectors of the economy slowing, housing will play an increasingly important role and it is pleasing to see the government has not tampered with tax arrangements that have been proven to help stimulate housing investment in Australia.”

“Abolition of negative gearing would result in a dwindling supply of properties for rent, escalating rents and reduced opportunities for low to middle income earning Australians to create wealth for self-funded retirement.”

She welcome the small business package giving business owners meaningful incentives to hire, invest in equipment "and importantly grow their livelihood.”