
The Capital Markets Division is leading or contributing to a number of key policies, engaging our members through our more than 12+ committees and working groups.
Our priorities cover policies in tax and foreign investment, corporate governance and regulation, accounting, and finance affecting the property industry. Recent advocacy updates include:
- Anti-money laundering (AML): the government is late on further consulting on its changes to AML, seeking to bring real estate agents and property managers into the regime. We expect the government to further consult in Q1.
- Your Future, Your Super: in December, Treasury announced it would finally review changes to benchmarking for superannuation funds. The Capital Markets Division is focused on ensuring property is not unfairly reported through annual performance tests and RG97 provisions.
- Climate-related financial disclosures: the Capital Markets Division is supporting the National Advocacy team to ensure our members views are at the forefront of developing the Property Council’s response to exposure draft legislation and the developing of standards for climate-related financial disclosures.
- FIRB fees and foreign investment: the government has announced it will be amending its fee regime in order boost Australia’s housing stock, including lowering fees for build-to-rent developments – an important advocacy win for the Capital Markets Division.
- Merger reform: in January the Property Council made a submission to Treasury on government’s emerging concerns with Australia’s merger rules and processes, presenting a variety of proposed options for change. We are monitoring developments closely and will keep members informed.