dislike the tax on 'on paper' income from simply owning a property as the gains are not realised until the property is sold at whatever value the market deems it to be worth at the time.
I think there should be no capital gains tax on your main property whether you live in it or if you purchased an investment as your first home. but if you purchase more than 1 home, then tax the additional properties on their rental income and their capital gains at time of sale.
Also need more focus on helping first home buyers to buy, the LVR disadvantages those who do not have current equity.
Special housing areas need to be sold exclusively to first home buyers (FHB) so there is no competition from investors or offshore buyers.
Owning a property is a valuable tool in funding one's retirement, we are constantly reminded that we cant rely on a pension when we retire, and property is a stable investment, I think home ownership should be encouraged. Financial independance from govt in retirement means less pressure on govt / welfare services, and it's more dignified for the individual to have their own income and not be collecting welfare.
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