The FBAA will today meet with a newly-formed national lobby group that plans to challenge the Labor Partyâ€™s proposed changes to negative gearing.
The Negative Gearing Action Group has been established by the directors of Property Investment Professionals of Australia, the nationâ€™s peak body for property investors.
It will canvass industry stakeholders, including the FBAA, the Real Estate Institute of Australia and the Australian Bankersâ€™ Association on the negative gearing issue.
FBAA chief executive Peter White will attend the initial meeting in Sydney today to outline the associationâ€™s views on Laborâ€™s proposed negative gearing changes.
Mr White said the ALP’s push for negative gearing reform distracts from the bigger hurdle of home ownership, which is â€œridiculously high stamp duty costs and ongoing land restrictionsâ€.
â€œWe must stand as one and voice our major concerns about changes to the policy which just donâ€™t stack up economically and will in fact worsen home affordability,â€ he said.
The Adviser, 12 April 2016