Property Council president Michael O'Brien defended negative gearing and capital gains concessions after predecessor Susan Lloyd-Hurwitz said they fuel speculation. Industry insists supply is the real problem, with Australia short 175,000 homes over five years. UDIA president Maxwell Shifman said negative gearing tweaks would not greatly change investment appetite.
As I told the Australian Financial Review: “The question is what is the aim?”
I also said: “We still have this fundamental problem where whether or not we tweak the tax settings, we're not anywhere near delivering enough homes across this country.”
Australian Financial Review, 18 May 2023 — Read the full article