The PICA (Australia Property Investors Council) asks the Labor Party to specify the timetable for the implementation of its proposed changes in gear shifting, in the event that the party wins them over. next elections.
This comes a week after the Real Estate Institute of Australia has called the party to the announcement that it would not make any decisions regarding the changes to the existing provisions regarding taxation of gains negative and capital gains before the federal election.
PICA President Ben Kingsley said the Labor Party might have doubts about this policy due to falling real estate prices in many parts of the country. The planned reforms have been the foundation of his campaign for three years.
"Limiting the negative gear to new properties has always been a ridiculous" solution "to Sydney's strong price growth, which has now truly dissipated as it was simply a sign of the peak of the market cycle. . If the policy was absurd at the time, it is even more true now, because the national economy is flat because of a number of poor indicators, including significant falls in real estate prices in our country. two bigger cities, "said Kingsley.
Kingsley said the party should fully inform the public of its plans.
"The majority of every Australian's wealth is in their property, so the threat of their value falling further is one of the reasons our economy is in a slump," he said.
According to Kingsley, homeowners and investors are afraid of changes. Therefore, if the introduction of these measures is planned as early as July this year, buyers must have enough time to organize their finances and enter the market in the coming months to meet the deadline, should they he declares.
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