As we descend on wintery Canberra this morning, our elected leaders are either returning home from Perth or on light electorate duties, but we have a great lineup of top talent for our Property Leaders’ Summit.
Each year we bring property investment decision makers from around the globe together with Australia’s political leaders to discuss the future of our industry.
Critical market insights and the best of industry leadership helps us build policy and engagement across government.
And make no mistake. This will be a high regulation parliament. How high is the only question.
Take the past year as a guide. We have championed open capital flows, a competitive foreign investment framework, fair and efficient taxes and reducing the regulatory burden on industry.
On mergers and acquisitions reform, we secured an appropriate exemption for residential property acquisitions, for certain commercial property transactions, and for lease renewals and extensions. Our advocacy has now moved to expanding this even further.
On anti-money laundering, we successfully carved out residential and commercial leases, as well as property management, from the scope of the proposed regime, helping preserve a risk-based and proportionate approach from regulators.
On the wholesale investor test, our position of no increases to the thresholds was backed by the Senate inquiry, protecting access to capital amongst the wholesale market.
On sustainability reporting, we secured a two-year deferral of the requirement for reasonable assurance over Scope 1 and 2 emissions, giving industry the much-needed time needed to build capacity and capability.
There remains much to do.
On foreign investment, we are championing more streamlined FIRB processes, including reduced fees for new build-to-rent developments, a practical shift that will support greater housing supply and help attract long-term capital.
Alongside this, we are engaging with ASIC, APRA, the ACCC, Treasury, the Attorney-General’s Department and the Department of Home Affairs across our work on thin capitalisation, RG 97 and benchmarking and reforming the broader foreign investment framework.Â
And tonight, the great pleasure of inducting another tremendous member of the Australian Property Hall of Fame.
I’m looking forward to it.
Next week: Tassie and SA budget reviewsÂ
