The Property Council of Australia (Property Council) appreciates the opportunity to consult with Treasury on the Government’s Budget measure to Strengthen Australia’s Foreign Resident Capital Gains Tax (CGT) Regime (regime).
The Property Council is the peak body for owners and investors in Australia’s $670 billion property industry. We represent owners, fund managers, superannuation trusts, developers, and investors across all four quadrants of property investments: debt, equity, public and private.
The property industry is the country’s second largest employer, representing a direct gross domestic product (GDP) contribution of $232 billion, or 10.6 per cent of total GDP, as well as 18.2 per cent of total tax revenues totalling $129.6 billion.
