Other state governments should not copy this misguided tax, which will stymie development and push up house prices.
The state government can find $200 million for the rescue a 90% foreign-owned airline like Virgin, but is happy to throw Queensland investors under a bus.
In the last federal election Labor lost in large part because of their proposed taxes on negative gearing and dividends. This proposal is even more unjust.
The best thing that can be said about it is that it is a genuine solution, unlike the ALP’s negative gearing and capital gains tax proposals.
Our brand new housing affordability index reveals that even though the latest available ABS figures (December 2018) show a drop of 2.4% in average house prices in the last quarter of last year, houses were actually 1.2% less affordable at the same time
Labor's two-pronged housing affordability package has them rowing the same boat in both directions, expending a lot of taxpayer dollars and going nowhere.
Labor populism under Bill Shorten and Sally McManus, if they deliver on their promises, will make the economy inflexible and weak.
Labor's problem is this. If abolishing negative gearing is to improve housing affordability it has to decrease prices. But if it decreases prices it decreases the savings of all home owners.
We the undersigned call on all political parties and candidates contesting this state election to commit to run campaigns which address the key issues for Queensland’s future.
Recent political debate on housing affordability has been conducted in a fact-free vacuum. Home owners receive more from the tax system than investors.