The International Monetary Fund (IMF) is calling on Australia to consider removing the exemption of the family home from capital gains tax.

CEO of the Real Estate Institute of Victoria, Quentin Kilan, says the idea is “ludicrous” and the tax would become a “death tax … by stealth”.

“Prices would skyrocket because people would look to compensate for a capital gains tax by increasing the price of property which, again, would push people out of the lower end of the market,” he told Neil Mitchell.

Press PLAY below to hear why the Real Estate Institute of Victoria thinks the proposal is “ludicrous”