PIPA is proud to announce that Chairman Peter Koulizos was one of a select number of property experts invited to speak at a special round table discussion on housing taxation policies with Prime Minister Scott Morrison, Treasurer Josh Frydenberg, and Assistant Minister Treasury and Finance Zed Seselja at Parliament House in Canberra yesterday.
It was a significant milestone for PIPA and our members with the association being recognised as one of our nation’s most authoritative property voices.
Mr Koulizos was able to provide significant detail on the impact of the proposed changes to negative gearing and Capital Gains Tax by the Australian Labor Party at the meeting.
The round table was a chance for the country’s leading property experts to advise the Federal Government on the likely economic fallout from any changes to taxation policies, especially given the current state of the property market in general.
Representing the interest of PIPA members, Mr Koulizos said the proposed changes would not increase supply but rather drive investors out of the market, which would ultimately see property prices reduce further.
He said it would also not increase revenue for a Labor Government, rather it would significantly reduce taxation receipts because of fewer investors paying less Capital Gains Tax.
Other industry groups and property experts at the meeting included the Urban Development Institute of Australia, Master Builders Australia, the Real Estate Institute of Australia, the Property Council, Destiny Financial Solutions and PIPA board member Margaret Lomas, noted financial expert Noel Whittaker, Yellow Brick Road’s Mark Bouris and SQM Research’s Louis Christopher.