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“By increasing taxes on foreign investors, we are hampering the state’s ability to increase the supply of housing to meet the record level of migration.
“In addition to paying more than double the amount of Stamp Duty in Queensland compared to domestic investors, they have also seen an increase in costs from the Australian Government in recent years.
“The acute housing shortage in Queensland will continue to deteriorate if investment in new housing continues to attract more taxes and charges.
“We want to attract more investment to Queensland, especially into apartment construction in the SEQ, not tax it away.
“Foreign investors are not competing with first home buyers or forcing up house prices. Quite the opposite.
“Foreign investors can only buy new homes, not established homes. They cannot take the apartments oversees with them, and therefore are increasing the stock of housing.
“For this reason, they have a critical role in increasing the supply of new housing, especially apartments in SEQ.
The Housing Industry Association (HIA) has appeared today at the Senate Inquiry into Climate Risk Assessment to advocate that the Federal government should drive a national, coordinated plan to make Australia’s homes stronger and safer in the face of a changing climate.
Opening statement by Simon Croft, Chief Executive Industry & Policy
Eligible small businesses in NSW can apply to SafeWork NSW for a rebate of up to $1,000 on the purchase of safety items. This includes items to help control exposure to silica dust.
The Productivity Commission’s (PC) Five Pillars of Productivity Inquiries take place against a backdrop of flatlining productivity in Australia, which is only set to erode living standards if not addressed. This HIA submission is in relation to the first pillar of the set of inquiries, titled ‘creating a more dynamic and resilient economy’.