Don't play with negative gearing
Property is certainly no game.
Our industry is vital to the economy. It employs 1.1 million Australians and generates one ninth of Australia’s GDP.
So it is disappointing that the collapse of GST-centred tax reform has seen both sides put property taxes squarely on the table.
The Opposition has released its policy curtailing negative gearing and halving the Capital Gains Tax concession. The Government has ruled out changes to CGT but are yet to make any decisions about negative gearing.
The challenge for both sides is to manage the Budget without risking the economy.
Earlier this week, we released TV, radio, newspaper and digital advertisements highlighting the value of negative gearing to the Australian economy.
The ads carry a simple message: property is no game – don't play with negative gearing.
While negative gearing has become a first order political debate, our focus is not on politics, but on facts.
And the facts are that it makes no sense to target the one part of the economy that is contributing to growth by playing around with these tax settings.
We will continue to work with all political parties on the issues of importance to our industry – from cities and infrastructure, to sustainability and housing affordability, to regulation and tax.
So much of our economy depends on a strong, productive and thriving property industry. Don't risk it by playing with negative gearing.