2 Sense: What tax reforms mean for the housing market

**Owen Rask** (0:00)
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**SPEAKER_2** (0:40)
So good, so good, so good.

**SPEAKER_3** (0:42)
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**SPEAKER_2** (0:52)
How did I not know Rack has Adidas?

**SPEAKER_3** (0:53)
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**Chris Bates** (1:09)
Whether it happens now, whether it happens in a few years, there's going to be this attack on negative gearing. They tried it 2016, tried it 2019, they're going to try it again now. It's just not an if, it's more like a when.

**SPEAKER_5** (1:21)
This is a podcast by the Rask Group. It's for educational purposes only. So please do not make a financial, legal, investment or taxation decision based on solely what you hear in this show.

**Owen Rask** (1:41)
Welcome to The Australian Property Podcast.

**Chris Bates** (1:44)
We're on a mission to be Australia's most trusted property podcast.

**Owen Rask** (1:47)
I'm Owen Rask, founder of The Rask Group.

**Pete Wargent** (1:50)
I'm Pete Wargent, author and buyer's agent.

**Amy Lunardi** (1:53)
I'm Amy Lunardi, and I am a buyer's agent.

**Chris Bates** (1:56)
I'm Chris Bates, ex-financial planner and mortgage broker.

**Amy Lunardi** (1:59)
Together, we'll take you through every step of your property journey, from first homebuyer to decades of property investing.

**Pete Wargent** (2:13)
Hello, and welcome to The Australian Property Podcast. I'm Pete Wargent from Alan Wargent, Property Buyers. I'm just over in Los Angeles this week, so we're on a funny time zone, but it's good to see on the other end of the microphone, Chris Bates from The Alcove Group. Chris, how's your week been?

**Chris Bates** (2:29)
Going well, Pete. It's school holidays have finished now, and I'm sort of treating them a bit like 10 week sprints in between each school sort of term, work, work, work, get sort of get the kids through it, and then have a bit of a break.
All back, the second sprint starts today, I guess. How have you been over in LA? I think you've been using the Waymo's and seeing delivery things. What's going on?

**Pete Wargent** (2:52)
Yeah, they are pretty cool. It's an interesting insight into how robotics and AI is going to take away or replace so many jobs. I think, yes, there's a lot of robot deliveries made now, and Waymo's are replacing taxi services, and I guess it's just the thin end of the wedge potentially. I mean, it's great technology and it's great to use it, but it makes you wonder about where some of the jobs are going to go.
It's been interesting to have a look around LA, obviously, with the exchange rate, things are pretty expensive these days, and I randomly bumped into a few Aussies around the traps in Venice Beach and Santa Monica Pier, and it's interesting to chat. It's funny, it doesn't matter where you go in the world, the topic of Australian property seems to pop up. I met one couple whose parents are in Terrigal thinking of building a factory up in Taree, and it's a random thing to be discussing when you're sitting near Santa Monica Pier, but yeah, it sounds like there's a bit going on over there. Obviously, by the time this goes to air, we're only a couple of weeks away from the federal budget, so that's something we'll talk about today. Are you seeing any impacts from that on sentiment with your clients, especially I guess in Sydney and Melbourne?

**Chris Bates** (4:05)
Look, yeah, I mean, we've got clients and team members all over, I think if you're in the first-time buyer space or you're in the investor space, I reckon you'd absolutely, if you're a buyer's agent or a broker that focused on that space, you'd absolutely think that a lot of investors should be waiting and they should be slowing down, which I think is the right move for those investors. But yeah, first-time buyers are kicking on. The upgrade is in Sydney and Melbourne in particular though, it is very much interlinked to the confidence around rate expectations.