Released on: 31-Mar-2015

The Real Estate Institute of Australia also welcomed the discussion paper but does not share John Symond’s view of negative gearing; president Neville Sanders commented: “We are pleased that the paper dispels common misunderstandings about negative gearing. The report states that ‘negative gearing does not in itself, cause a tax distortion’ and that ‘contrary to popular perception, negative gearing is not a specific tax concession for taxpayers with investment properties.’” He says that a review of taxation is essential and should include inefficient state taxes such as stamp duty.
Sources: REIA