With a pre-election Federal Budget looming, property investors are confident tax measures won’t be changed.
While Federal Opposition Leader Anthony Albanese looks set to press ahead with changes to negative gearing and capital gains tax, despite these being considered the policies that lost Labor the 2019 election, the Federal Government is expected to remain in favour with investors on Budget night on 11 May.
“Parties don’t mess around with property and tax pre-election,” says Right Property Group’s Viktor Kumar. “If they do, they get annihilated at the election.”
The link between a strong property market and economic recovery is also tipped to play on the minds of Josh Frydenberg and Scott Morrison ahead of Budget night.
In a recent Budget submission, the Real Estate Institute of Australia says negative gearing and capital gains tax on property investments should be retained in their current form.