The Federal Government says it is investigating a number of residential
property purchases made by overseas buyers. Housing Minister Tanya Plibersek
says foreign investors are allowed to buy new houses in Australia. But she
has told Channel Ten there are restrictions on what people are allowed to
buy and there is anecdotal evidence there may be problems. "We have heard
recent stories of increased activity in this area, so we are interested in
making sure people are following these rules and following them properly,"
she said.
Ms Plibersek has also indicated the Henry tax review of the tax system
considers options to increase the supply of housing. The Henry tax review
was handed to the Government last year, but has not yet been released. She
told Channel Ten the report looks at housing taxes - such as capital gains
tax and negative gearing.