Will the 'most significant tax changes' in decades fix the housing crisis? | The Business | ABC NEWS

Описание: In this special budget program of The Business, ABC's business editor Michael Janda leads a panel discussion with Ray White chief economist Nerida Conisbee and Housing Industry Association NSW executive director Brad Armitage to unpack the implications of the tax changes on the housing market and building industry.
From 1 July 2027, the government will scrap the 50 per cent tax discount on capital gains for property investors except those buying new homes. The CGT discount will return to the policy of 1999, where only 'real' gains above inflation are taxed at a minimum rate of 30 per cent.
But gains accrued prior to next July will retain the 50 per cent CGT discount. Negative gearing will be limited to new properties, existing investments will be grandfathered except those bought after 7.30pm on May 12.
Nerida Conisbee says house price growth will slow and she thinks there will be an immediate impact on the rental market. She points to the effect of extra property taxes in Victoria and how they reduced the number of homes for rent.
Brad Armitage says the federal budget papers forecast that the tax changes would result in 35,000 fewer homes being built over the next decade. His question for the treasurer is 'why now would you do anything that impacts investment in a housing crisis?'
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