Following an extensive campaign in support of negative gearing being retained in its current form, REIWA congratulates the Turnbull Government on being returned to power.

The outcome will provide stability for the property industry which is particularly important in softer markets like Western Australia. REIWA recognises the need for broader tax reform rather than the adjustment of what is one part of a very complex system.

We welcome the return of the Coalition and their plan to retain negative gearing and keep capital gains tax at current rates. In the lead up to the Federal Election, REIWA engaged the WA community in a number of discussions on negative gearing and property investment. We found out just how important property investment is for helping every day West Aussies secure their future.

The current WA real estate market is behaving quite differently to markets on the East Coast, so for us it was critical to look at the impact tinkering with negative gearing would have locally.

This outcome will provide some much needed stability for the WA property market and we are looking forward to working with our local federal members of parliament and senators on ensuring good housing and investment outcomes for all West Aussies.