Urban Taskforce Australia is a not-for-profit peak industry organisation representing Australia’s most prominent property developers and equity financiers. Our membership is made up of many of the largest property investors, developers and builders across the nation, with a focus on the industry in NSW.
Urban Taskforce Australia is supportive of the decision of the Government to exempt capital gains tax and negative gearing tax changes for new housing supply.
These exemptions support new dwelling construction and help to ensure the ongoing interest of investors in new housing supply.
However, we note with concern that even by the reckoning of the Commonwealth Treasury, these changes will have a negative impact on housing supply to the tune of 35,000 fewer homes over the next 10 years (because of the likelihood of a lower sale price when the property is sold by the original owner thus impacting on the feasibility of the investment).
To read the full submission, CLICK HERE