Labor’s tax grab will smash Tasmanian home market

Labor’s proposed capital gains tax grab on investment properties will hurt Tasmanian families looking to rent or buy their home.

Analysis released today by the Housing Institute of Australia and the Centre for International Economics shows raising the level of capital gains tax on housing will result in fewer houses being built, increasing housing costs and rents, make it harder for first homeowners to enter the market, and reduce economic activity and household consumption.

If Rebecca White wants to start playing a constructive role in addressing Tasmania’s housing shortage she should immediately call on Bill Shorten and Federal Labor to dump this anti-housing tax grab.

The Hodgman Liberal Government is getting on with the job of boosting the supply of new housing to meet demand.

Last week’s Australian Bureau of Statistics Building Activity data showed a sharp increase in the number of dwellings being constructed in Tasmania.

In the year to December 2017, dwelling commencements were 15.4% higher than in the year to December 2016, and on a trend basis the number of dwelling commencements in the December 2017 quarter was 29.1% higher than the December 2016 quarter.

This hard won improvement would be put at risk if Bill Shorten and Labor are allowed to impose this craven tax grab on Tasmanian families.

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