Industry heavyweights tell govt ‘new housing supply is king’
THREE peak housing bodies have joined forces to issue a dire warning that government tax changes will make it “harder to deliver the homes Australia needs”. The warning says proposed changes to capital gains tax (CGT), negative gearing and self-managed super fund (SMSF) investment rules will reduce housing supply and increase rents. The organisations say proposed tax changes disincentivise investment in existing rental housing and shrink supply. At the same time, new homes are more expensive to build than existing dwellings, meaning any slowdown in investment is likely t