❓ The broad consensus seems to be this intergenerational inequity budget proposed attempts to improve affordability and access for first home buyers.
🏠 But the bigger challenge is still Australia’s underlying housing shortage.
Most commentators believe the changes may slightly reduce investor competition for existing homes and slow price growth a little (still grow, just slower), but they are unlikely to dramatically improve affordability.
A concern raised is that reducing investor tax incentives could also reduce private investment and rental supply, unless enough new homes are actually being built.
Many experts agree the real long-term solution remains faster planning approvals, lower construction costs, infrastructure investment and significantly more housing supply overall.
Only time will tell.
What do you think?
One thing is for sure, tax professionals will be VERY busy in coming years.
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