Thu
23 May
2019

PIPA looks forward to working with government on much-needed legislation

The Property Investment Professionals of Australia (PIPA) is looking forward to working with a Coalition Government on behalf of its members and the wider property investment sector to secure vital legislation for the sector.

PIPA chairman Peter Koulizos said the association would seek to sit down with government representatives in coming months to discuss much-needed regulation in the property investment advice space.

“PIPA was formed by industry practitioners with the objective of representing and raising the professional standards of all operators involved in property investment,” Mr Koulizos said.

“One of the association’s long-standing aims has been securing regulation to drive out spruikers from our sector and to protect consumers from dodgy operators.

“We look forward to discussing this important issue with the government in due course.”

Mr Koulizos said the election result was a sign that all Australians valued property ownership strongly and were prepared to vote accordingly to protect their most expensive asset.

“Labor’s policy to restrict negative gearing and reduce the concession on Capital Gains Tax was always poor, but especially so in a mostly underwhelming property market environment,” Mr Koulizos said.

“Creating an us and them campaign by classifying all landlords as ‘greedy’ also did the Opposition no favours when the vast majority of property investors only own one property and are just trying to improve their financial futures.” Mr Koulizos said he was also proud of the wider real estate sector who had joined together to protect the jobs of hundreds of thousands of people employed either directly or indirectly in the industry.

“The sector also understood the potential negative impact of Labor’s housing taxation policies on the market as well as on the wealth of everyday Australians,” he said.

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