Global Power | Local Knowledge | Uniquely Personal
All Articles News FAQs Videos
中文

REIA calls on govt to not increase CGT on property investment

The Real Estate Institute of Australia has called on the government to consider a number of suggestions relating to Australian property before the next budget is announced.

The Real Estate Institute of Australia (REIA) has called on the government to not increase Capital Gains Tax (CGT) on Australian property investment.

This is just one of the points that features on a list of suggestions to be submitted to the commonwealth government ahead of the 2011/12 budget announcement.

It also calls on the government to get rid of stamp duty on property transactions and review the First Home Owners Grant (FHOG).

David Airey, president at the REIA, said that the institute's focus is "housing affordability and inefficient property taxes".

"Of particular concern is the issue of stamp duty on property transactions," he added.

Mr Airey went on to explain that these duties are a state tax, but that state governments would not abolish these unless the federal government shows some leadership on the matter.

Back in December, the Real Estate Institute of Victoria said that a small increase in first home buyers could be seen in the second half of next year as the government has promised a 20 per cent cut in stamp duty from July 1st.

Posted by Ravin Cahtlani

- tax, capital, reia, government, CGT

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact info@smats.net.

中文

Subscribe Now