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Real estate industry shows support for tax reforms

By Louise Morrin

The Real Estate Institute of Australia (REIA) has welcome the Treasury's new whitepaper on taxation across the country, which has highlighted a number of different factors that need to be discussed in order for the nation to see continued economic growth and success. 

REIA president Neville Sanders said the paper highlights some of the major issues that need to see reform in the near future. One such issue is stamp duty, which he said hinders the movement of the population due to the charges on buying and selling real estate. 

Housing Industry Association Managing Director Shane Goodwin reinforced these ideas, stating that stamp duty was an "inefficient" tax and that reform could unlock much greater sources of income from the industry. 

"Housing will form an integral part of any successful future taxation reform. Independent research demonstrates that new housing is one of the most heavily taxed sectors of the Australian economy," said Mr Goodwin in a 30 March statement.

As the discussion begins to turn towards tax reform, the possibility of change in the near future could be on the horizon. This could make buying and selling property in Carlton an easier undertaking for the future, allowing for more growth in the coming years. 

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