As champions of a strong property industry and its contribution to Australia’s economic prosperity, we are committed advocates for policy outcomes that deliver great results for our members and for communities.
We’ve achieved some positive advocacy results recently which are vital to the well-being of our industry, property owners and investors.
As you’ll read in this issue of Property Australia, in South Australia we have led the charge to get a fair go on the State Government’s land tax reforms. After months of resolute advocacy, I’m pleased to say that the package passed by parliament last week will see the top rate of land tax reduced by than more than a third.
This week ASIC has confirmed what we have been saying for three years: that real estate should not be penalised by requiring super funds and managed investment schemes to disclose normal property operating costs, thereby making investment in real estate less attractive.
In WA we have successfully campaigned for a 75 per cent stamp duty rebate for new off-the-plan apartment purchases to help stimulate the construction sector and improve affordability.
And the NSW Premier Gladys Berejiklian last week announced her Government’s commitment to an overhaul of the state’s planning scheme – something which has been the subject of tireless advocacy and will continue to be so.
Of course, there can be no grounds for complacency especially where good policy for the long term is too often sacrificed for short term political advantage or the whims of the news cycle. There is still plenty of work to be done, whether it’s land tax in Queensland, consistency in building regulation compliance and enforcement, resolving the challenges of combustible cladding, or the ongoing challenge of housing affordability and supply – to mention but a few.
While we wrap up the year with some good outcomes, there’s plenty of unfinished business to stiffen our resolve for the year ahead and keep delivering for our industry.