OUR NATIONAL BODY ADVOCATES ON REIWA AGENTS BEHALF

20 March 2015 - Supplied by REIWA

March saw our national body, the Real Estate Institute of Australia (REIA), focus on two key issues: foreign investment and tax reform. 

Tax reform

Now that the Intergenerational Report has been released by the Treasurer, it shouldn’t be much longer before the long awaited Discussion Paper on Tax Reform is released to the public.

REIA has been progressing the consultancy work with the Property Council on the joint paper on negative gearing. In addition, the Business Coalition for Tax Reform has been discussing the need for a coordinated approach to the tax reform debate, once the discussion paper is released later this month.
When are they going to leave property alone and use a much more updated fairer system of taxing investors !!

Foreign Investment

In response to last year’s Parliamentary Inquiry into foreign investment in real estate, the Federal Government released a consultation paper at the end of February for interested parties to comment on.

REIA has coordinated a submission on behalf of the real estate industry and has met with the Federal Treasury to discuss the proposals contained in the consultation paper, including; 

• the introduction of fees for foreign investment applications on real estate
• greater penalties
• more focused enforcement of compliance of the foreign investment policy
• changes to agricultural investment

I am shocked that this organisation has not been able to do their job over the last few years and has only just admitted it - see earlier blog !!

MAKE YOUR OWN DECISION AND GIVE IT A REAL GO !!