Thank you for the opportunity to make this submission to the Senate Economics Legislation Committee about the Treasury Laws Amendment (Build to Rent) Bill 2024 and the Capital Works (Build to Rent Misuse Tax) Bill 2024 (together, Bills).
The Property Council of Australia is the leading advocate for Australia’s largest industry: property generates 13% of Australia’s GDP; employs 1.4 million Australians; and pays $72 billion in tax. Members are the leading and largest organisations that invest in, design, build and manage places that matter to Australians across all types of buildings and all capital and regional cities.
In particular, our membership represents the largest global investors in build-to-rent (BTR) housing and the leading owners, operators, and investors in Australia’s own nascent BTR sector.
For the past decade, the Property Council has advocated for an Australian investment regime that attracts institutions to BTR housing by ensuring investment parity with other property asset classes.
