Business News
Gavin Hegney has lambasted the federal government’s changes to negative gearing and capital gains and offered an alternative idea to make easier for first home buyers.
The experienced property valuer and Hegney Property Group executive chair spoke at an Urban Development Institute of Australia WA event today, responding to a comment about the Federal Government’s recent budget measures.
“There could have been a lot smarter ways to do this,” he said.
“It was such a such a negative way to approach such a big market, a $12 trillion market in Australia.”
He added that the government could have implemented planning measures to change the system instead of targeting taxes.
“If you are really concerned about first home buyers, you could easily zone any piece of land for a first home buyer, and that only a first home buyer can buy that,” he said.
“Therefore, that piece of real estate will only ever be affordable to a first home buyer.
“You can have two blocks next to each other, or two individual apartments, one is zoned first time buyer, and one’s not.”
To read more comments made by Gavin Hegney at our Industry luncheon, visit Business News.