Acting president of the Real Estate Institute of Australia (REIA) Pamela Bennett has criticised comments made regarding negative gearing at the country's tax forum.
Responding to a speech made by the Grattan Institute's Saul Eslake yesterday (October 5th), Ms Bennett argued that the current arrangements can also assist lower income families.
Her comments emerge after Mr Eslake suggested that negative gearing for property actually transferred $4.5 billion (£2.8 billion) from ordinary taxpayers to their richer counterparts.
However, the REIA criticised the standpoint and claimed the arrangement is complementary to the aims of the Housing Affordability Fund in focusing on the supply of rented homes.
Ms Bennett said: "With the state of housing affordability in Australia declining, REIA would like to see the current negative gearing arrangements maintained to continue the supply of rental properties to the market."
Last month, the organisation welcomed proposals to abolish state-based real estate stamp duty following comments from secretary of the treasury Dr Martin Parksinson.
Posted by Ravin Chatlani
Responding to a speech made by the Grattan Institute's Saul Eslake yesterday (October 5th), Ms Bennett argued that the current arrangements can also assist lower income families.
Her comments emerge after Mr Eslake suggested that negative gearing for property actually transferred $4.5 billion (£2.8 billion) from ordinary taxpayers to their richer counterparts.
However, the REIA criticised the standpoint and claimed the arrangement is complementary to the aims of the Housing Affordability Fund in focusing on the supply of rented homes.
Ms Bennett said: "With the state of housing affordability in Australia declining, REIA would like to see the current negative gearing arrangements maintained to continue the supply of rental properties to the market."
Last month, the organisation welcomed proposals to abolish state-based real estate stamp duty following comments from secretary of the treasury Dr Martin Parksinson.
Posted by Ravin Chatlani
