REIA Key Policy Positions
The Real Estate Institute of Australia (REIA) maintains a strong relationship with Federal Government, bureaucrats and the media, through formal and informal lobbying and the release of policy statements and research on a range of property, taxation and economic issues. The institute continues to identify, formulate, encourage and promote public policies that contribute to an economic and political environment favourable to the real estate profession and small business generally.
REIA’s key policy positions include:
- Impediments to housing supply be addressed in improving the responsiveness of housing supply in addressing affordability.
- A co-ordinated and holistic approach of all levels of government in objectively addressing all property taxes at state and Federal level.
- Removal of stamp duty on property transactions.
- Until a co-ordinated and holistic approach in objectively addressing all property taxes is undertaken that negative gearing and capital gains tax on property investments are retained in its current form.
- Support a broad based tax to replace inefficient state taxes such as stamp duty and payroll tax.
- In the event of a change to CGT arrangements, REIA support indexation of capital gains.
- Extend the current First Home Super Saver (FHSS) Scheme to allow first home buyers to have access to their voluntary superannuation contributions, including earnings, for the purpose of raising a deposit for a home.
- The First Home Buyers Deposit Scheme be expanded to cover all eligible (income & house price limits) first home buyers.
- Establish a mechanism to ensure the availability of reliable data on housing demand and supply in order to formulate appropriate policies and to monitor their effectiveness.
- REIA’s policy position on climate events includes requesting the ACCC investigate the level of competition in the insurance market in locations prone to drastic climatic events. If a lack of competition is established; ask the Federal Government to intervene in the insurance market by establishing a reinsurance pool for affected areas; encourage governments to fund mitigation works; support a standard voluntary bushfire rating system, and continue the dialogue with the Insurance Council of Australia with the view of utilizing their risk rating apps.