The Property Council of Australia has welcomed the Australian Government’s commitment to reduce the adverse financial impact on pensioners looking to “right-size” as a “win-win” for older homeowners, governments and young families.
Executive Director of Retirement Living at the Property Council of Australia, Ben Myers, said incentivising older Australians to move into homes that require less maintenance and are designed to help people live independently for longer made sense.
Mr Myers said countless government reports and reviews over the last decade showed most older Australians’ wealth was locked up in the family home, so finding better ways to encourage them to unlock the equity in their home – and remove tax disincentives – was a good start in helping them help themselves.
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