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Budget tax changes predicts rent rise of $10 weekly by 2030
Published 3 weeks, 2 days ago
Description
The building industry has released new modelling predicting rents will rise by an average of $10 per week by 2030 due to federal budget tax changes, five times higher than the Treasury's forecast of $2 per week. The modelling by Tulipwood Economics also forecasts a billion dollar hit to GDP and 4,700 fewer jobs for tradies. The Albanese Government has dismissed the research, defending its removal of the 50% capital gains tax discount, abolition of negative gearing on existing property purchases, and ban on self-managed super funds borrowing to buy residential property.
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