To read the submission, CLICK HERE
Over the past 12 months, there have been positive moves by the Commonwealth and state government(s) to address our current housing supply crisis, with the introduction of reforms and funding initiatives designed to support progress towards the National Housing Accord and its target of 1.2 million new homes. These include:
- An election promise to fund housing enabling roads infrastructure in western Sydney;
- Support for and improvements to the Housing Australia Future Fund;
- State government level planning reforms to streamline assessments and decision making on larger housing projects and the removal of red tape from the planning approvals system; and
- Commonwealth legislation to reduce the withholding tax rate for managed investment trusts’(MITs) build to rent (BTR) investments from 30% to 15% and to increase the capital expenditure deductions from 2.5% to 4% per year.
These initiatives will contribute to increase the supply of housing in the short to medium term and are strongly backed by Urban Taskforce Australia.
To read the submission, CLICK HERE