Don't mean to point out the Obvious but people or entities who are buying investment properties are already paying Capital Gains Tax on the profit when they sell it. How would making everyone pay capital gains tax on property, even primary residence properties, make houses cheaper the demand for housing won't disappear? The only benefactors of such a moronic policy would be state government through the windfall of taxes they are already receiving The real losers would be the people that chose to buy a property as a primary residence, to live in as they repay their mortgage and come to retirement they would be slugged with another tax when they decide to down size, Must be another moronic labor policy. Or a cleverly disguised government tax grab. I honestly believe some people have no idea of the consequences of the stupidity Or they are intent on turning everyone into a government hand recipient?
