“Master Builders Australia is committed to tackling the underlying challenges that impact on housing affordability so that home ownership and the housing rental markets remain a cornerstone of Australia’s way of life. The ALP’S new policy position will be controversial by moving away from a long held bipartisan approach since the 1990s after the failed negative gearing policy experiment,” he said.
“Our concern is that Labor’s policy is a populist response to those who demonise housing and negative gearing as primary cause of our fiscal and social problems. Investing in new private rental housing is not evil,” he said.
“The private rental market is a critical supplement to the public and social housing rental sectors.
The private rental market also provides a valuable role in supplementing the retirement income strategy for mum and dads on low and middle incomes. Housing is an asset class just as shares and just as shares, interest deductibility in investment housing should remain as a tax feature,” he said.
“The ALP policy leaves important questions unanswered including how to overcome structural impediments to increasing housing supply which is the only effective way to truly tackle housing affordability for both homeowners and renters ” Wilhelm Harnisch said.
“Master Builders has called for the Federal Government to work with State and Territory Governments to use federal national competition policy payments for individually targeted and permanent structural reforms that can remove the current unnecessary blockages that inflate the cost of housing,” he said.
“Master Builders will continue its positive engagement with the ALP on this important area of public policy,” Wilhelm Harnisch said.
“But what we are looking for from both major parties in the lead up to the Federal Election are policies that add to economic growth, create jobs and enhances the positive role that housing can play and that will at the same time improve the ability of mums and dads make their contribution by providing rental housing and at the same time look after their own retirement strategies,” Wilhelm Harnisch said.
The Sydney Morning Herald, 15 February 2015:
When I crunched the numbers, over 60,000 people with investment properties whose taxable income was $80,000 or less had total incomes above that $80,000 threshold ...
Graphs found at