According to a report by the Housing Industry Association (HIA), most Australian voters do not understand Labor's proposed changes to the capital gains tax and the negative gears. They want a thorough review before any changes.
"HIA has always said that the changes to the negative conversion and the capital gains tax on housing were bad policy," said managing director Graham Wolfe.
Twice as many voters opposed the changes as they supported, said the industry group.
HIA found that only 34% of Australians were aware of the proposed changes and understood them at a certain level. Others did not understand the problem.
"Australians are being asked to make a decision about a policy that will directly harm them, without fully understanding the consequences and objectives of the policy. For this reason, most people (74%) believe that it would be necessary to review the policy before making any changes, "Wolfe said.
In addition, 52% of respondents thought that rents would increase as a result of these changes.
With 92% of tenants intending to buy a house, the changes proposed by Labor would weigh heavily on their savings. According to HIA, rents would rise if supply declined because of a lack of investment in new housing, if the changes were happening well.
"If rents go up, tenants who save for a deposit for their own home will take a step back," Wolfe said. "These changes are anti-investment. They do not recognize that private rental housing provides housing to nearly 3 million families and that reducing the supply of private rental housing will only increase rents. We can not solve the housing affordability problem by taxing housing. That's what this policy seeks to do. "
HIA commissioned a study from JWS Research to conduct this study. All age groups, political beliefs and socio-economic backgrounds were studied, including the marginal seats of each major party.
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