More than 160 property industry CEOs, managing directors, chief investment officers, and other leaders are in Canberra today for our annual Property Leaders’ Summit.
This flagship industry event allows us to drive direct engagement between property decision makers and Australia’s political leaders. Scott Morrison, Josh Frydenberg, Anthony Albanese and FIRB Chair David Irvine are just some of the guests joining us to discuss the future of the industry, investment, capital markets and the wider economy.
With a federal election looming, it is an opportune time to outline the major role our industry is playing in Australia’s remarkable economic recovery and the settings we require from governments to continue this work.
The recent Federal Budget included a range of measures to reinforce our recovery, including new home ownership support, tax cuts, additional infrastructure investment, and new incentives to attract global talent. However, the forecasts reveal that population growth will be our biggest economic challenge over the next few years.
The property industry is asking policymakers not to get stuck in a binary choice of opened or closed borders. A nuanced response is needed to drive long term growth which allows for upscaled quarantine and border processing capacity while enabling us to stay safe.
The Opposition’s commitment of a $10 billion Housing Australia Future Fund has been met with positive industry support. As the election draws near, the industry will continue to make the case for maintaining Australia’s longstanding negative gearing and capital gains tax arrangements.
A big thank you to principal sponsor, Commonwealth Bank of Australia, our leading sponsors and all those engaged in our discussions over the course of the Leader’s Summit. These sessions are a great complement to the Property Council’s day-to-day advocacy work on behalf of the industry.