“According to research released, an increase in Capital Gains Tax would result in a $1bn reduction in revenue to state Governments, increase the cost of renting and exacerbate the housing affordability challenge,” stated Tim Reardon, HIA’s Principal Economist.
The Government’s reform of taxation of stapled structures strikes a sensible balance between improving the integrity of the corporate tax system while still encouraging productive investment in Australia’s property industry.
The housing affordability problem in Australia has caused unnecessary constraints on home building which has prevented sufficient houses to be built to meet the demand of growing cities. Principle Economist for HIA Tim Reardon said.
The Australian Taxation Office (ATO) is reminding Australians to stop and think before giving their personal details or hard-earned money to scammers this tax time.
Could you claim $149,187 from your rural property? Advice from Bradley Beer – BMT Tax Depreciation.