MBA backs Coalition housing policy on negative gearing

MBA backs Coalition housing policy on negative gearing
MBA backs Coalition housing policy on negative gearing

Confidence in the residential building sector will be boosted by the Government’s announcement that it has out ruled out any change to the current negative gearing arrangements in the forthcoming May Budget, Wilhelm Harnisch from the Master Builders said. 

“The retention of negative gearing provisions for new and established homes is a long held policy by Master Builders and therefore Master Builders strongly backs today’s announcement,” he said. 

“The Prime Minister’s announcement means $8 billion of investment each year spent on renovation of private rental properties will continue and thereby boost economic growth and jobs for tradies,” Wilhelm Harnisch said. 

“Negative gearing underpins investment, largely by mums and dads, in private rental properties and plays a critical role by supplementing the shortage in public and social housing rental stock where there is a waiting list estimated to be around 200,000 households,” he said. 

“Master Builders in strongly backing today’s announcement is now looking to the major parties for sound policies that will tackle the structural barriers to housing affordability which is to increase the supply of new housing.

"Master Builders has called for national competition policy payments to state governments and local councils to implement targeted and permanent removal of the current unnecessary blockages that delay the supply of new housing and inflate the cost of new housing,” Wilhelm Harnisch said. 

“This is one of the key housing affordability reforms that Master Builders will be calling on both parties to deliver on for the next term of government,” Wilhelm Harnisch said. 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Negative gearing Residential Building

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