Corridors of Power – 18 August 2015

Corridors of Power – 18 August 2015Corporate tax inquiry report delayed, Property Council provides evidence to home ownership inquiry, ABCC bill voted down and possible new direction for council amalgamations in NSW. Stay up-to-date with all the latest government developments affecting the property industry here each week.The well-known saying “a week is a long time in politics” cannot be further from the truth as Federal Parliament resumed last week for the spring session. The dominating issue of last week – marriage equality – has continued this week despite the Government’s attempts to shift the focus back to jobs and economic growth. The final report of the senate committee inquiry into corporate tax avoidance has been delayed until 30 November although an interim report was tabled late yesterday with 17 recommendations.Last Friday the Property Council provided evidence to the House of Representatives Standing Committee on Economics into home ownership. The main point made to the committee was that the lack of supply for a growing population and out-dated planning and taxation systems were the principle drivers pushing house prices up. On Monday the Senate voted down for a second time the Government’s legislation to re-establish the Australian Building and Construction Commission (ABCC). However Minister for Employment, Senator Eric Abetz, has vowed to reintroduce the bill for a third time and try once again to gain the support of crossbench senators.Council amalgamations appear to be gathering speed in New South Wales with reports the State Government will consider forced council amalgamations and appoint administrators to facilitate the process. The Property Council has long advocated for reform and Executive Director Glenn Byres said “Sydney’s standing as a growing global city means we need stronger councils capable of delivering jobs, housing, investment and infrastructure.” The Independent Pricing and Regulatory Tribunal (IPART) will provide a report to Government in October. The Property Council is continuing its exclusive member briefings around the country to provide members with guidance on the new costs and process requirements for delivery of telecommunications infrastructure in new developments. So far, the briefings have been held in capital cities and regional centres in Tasmania, Western Australia Queensland and Victoria. This week the road show heads to New South Wales, with briefings in Wollongong, Newcastle and Sydney. Feedback from members has been extremely positive, and the Residential Development Council continues to work with nbn to resolve issues members are experiencing with the rollout of this critical piece of infrastructure.