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March advocacy updates

  • March 14, 2024
  • by Property Australia

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 in March 2024 include:

  • Your Future, Your Super (YFYS): in February the Capital Markets Division made a submission to Treasury as part of their superannuation in retirement consultation, focused on the impacts of YFYS and RG97
  • Sustainable Finance Taxonomy: the Australian Sustainable Finance Institute (ASFI) has briefed Property Council members on its taxonomy development project on behalf of the Australian Government. We will be engaging members at the appropriate time to ensure our Capital Markets members are front-and-centre in developing industry’s response
  • FIRB regulations: the Capital Markets Division has heard of issues with the ‘open and transparent sale process’ for foreign entities acquiring agricultural or commercial land for property development, and concerns it may become more prevalent as foreign unitholders grow. If this issue is impacting your business please get in touch
  • 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 will update members once the government announces it plans
  • Wholesale investor test: as part of its review into managed investment schemes, we are keeping a watching brief on any proposals to amend the wholesale investor test. The Capital Markets Division is engaging with our industry partners to work together.