How the Boomers grabbed the property market: RBA
Research from the Reserve Bank indicates that wealthier older Australians are increasingly dominating the property market, impacting younger, lower-income individuals. The findings highlight how negative gearing and capital gains tax laws have contributed to rising house prices and high household debt levels. Recent budget changes aim to address these issues by modifying tax incentives for property investors.
- ▪Older Australians are using tax laws to gain a larger share of the property market.
- ▪The federal government is overhauling the tax system as part of the recent budget.
- ▪The median age of housing investors has increased from 45 to 51 over the past two decades.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.