hearing: That's despite receiving 65 submissions, hearing evidence from 68 witnesses and holding seven public hearings since the inquiry was launched in April 2015 - interrupted by this year's federal election, according to Nine News Australia. It found that many parts of Australia, other than Sydney and Melbourne, have a relatively weak housing market and that policy should focus primarily on boosting supply in under-supplied markets. Parliament's lower house economics committee, stacked with government members, made no recommendations in a 55-page report released on Friday. It ruled out support for any tax rises for property investors, including Labor's proposal to limit negative gearing and discounts on capital gains tax. He noted the banking watchdog APRA had already moved to limit the rate of borrowing by investors and had to ability to take further action if needed. Increasing rates of tax on property investment would have a negative impact on the economy, Liberal chair David Coleman said.
(news.financializer.com). As
reported in the news.
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