- No changes to negative gearing or capital gains tax.
- National Housing Finance & Investment Corporation.
- $24b investment in transport infrastructure.
- Less than 30 days to go & over $15k raised so far CEO.
Fears that the Federal Budget would include changes to negative gearing or capital gains tax have proved unfounded. Treasurer Scott Morrison has taken a largely hands-off approach to the housing market. Most of the real estate focus in the Budget was on measures to increase housing supply. By leaving the current property taxing system untouched, Morrison has calmed the concerns of much of the real estate and development industry.
Morrison has instead offered other measures to boost housing supply. This includes establishing the $1 billion National Housing Finance and Investment Corporation and releasing more land for housing. Billions of dollars in transport infrastructure upgrades will also help unlock cheaper housing in further-flung regional areas by making them more accessible.
The tax cuts and infrastructure spending in the Federal Budget will also boost confidence in the building and construction industry, according to Master Builders Australia. “Reducing the tax burden on households and small business is good for the economy and good for builders. People may decide to renovate their kitchen sooner or buy their first home faster. It’s also great news that our many small builders who are sole traders will also get tax relief. The Government’s infrastructure Budget will play a key role. The additional $24 billion investment in infrastructure across the country will boost the productivity and livability of our cities.
And finally, it’s now less than 30 days to go until I participate in the Vinnies CEO Sleepout. I’m very proud to say that we have raised over $15,000 so far, so thank you to all who have contributed. We still have a way to go to achieve our fund raising target so if you’d like to support this great cause I would really appreciate any contribution that you can make.
Please contribute what you can.