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{{propApi.successMessage}} {{region}} Change locationLower property taxes & remove barriers to investment
Lower property taxes & remove barriers to investment
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Currently, 43 per cent of the cost of a new Melbourne house-and-land package is comprised of government taxes, regulatory costs and charges — a figure that has increased 73 per cent since 2019, far outpacing wage growth. Victoria’s tax regime is reducing investment, suppressing housing supply, and driving up rental costs.
HIA calls on the incoming state government to:
Extend Off-the-Plan (OTP) stamp duty concessions to new house-and-land packages.
Remove stamp duty for homes valued up to $750,000; provide concessions up to $1 million.
Increase the First Homeowner Grant to $20,000 and restore the $20,000 regional FHOG.
Remove the COVID Debt Levy by 2030 and raise the taxable landholding threshold to $500,000.
Abolish the Windfall Gains Tax.
Remove Foreign Purchaser Additional Duty (FPAD) for new housing builds.
Cut the absentee owner surcharge to 1.5 per cent (the 2017–2019 level).