There is no disputing that first home buyers in Australia have it tough……very tough.
Housing prices in many of Australia’s cities & suburbs are currently at (or around) all time high’s (even using ratio’s such as an income to house price ratio) and the current Australian tax system is greatly skewered in favour of cashed up investors over owner occupiers.
In 2015 we launched an online petition campaigning for Australia’s federal & state governments to make the system more fair for first-timers priced out of the market by tax advantaged investors.
The campaign has been relaunched and is based around a 5 point plan which we believe will bring more fairness to the housing market for current and future generations.
You can make a difference by showing your support today.
- Reduce ‘interest costs’ tax deductibility from 100% deductible to 50% deductible
- Introduce a tier scaled CGT (Capital Gains Tax) discount system so investors don’t receive a full 50% discount until after 36 months
- Provide first home buyers in every state a 50% stamp duty discount on existing dwellings and 100% discount on new dwellings (not just some states)
- Change land tax from value based to number of properties based
- Reintroduce the First Home Savers Account with enhanced features such as an ability to salary sacrifice pre-tax wages and no tax on investment earnings