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REIWA is calling on all political parties contesting the federal election to commit to no blanket changes to national property tax policies, like negative gearing and capital gains tax, if elected.
REIWA President Damian Collins said meddling with one component of a broader tax system was reckless and would significantly impact everyday Australians and further stifle Western Australia’s already struggling property market.
“Changing one component of a broader tax system is irresponsible. History has already shown us that removing negative gearing and capital gains tax for investors has wide-ranging implications. In the 1980s when negative gearing was removed the impact was so significant across the country that negative gearing was re-introduced just two years after it was removed,” Mr Collins said.