Enter your email and password to access secured content, members only resources and discount prices.
Did you become a member online? If not, you will need to activate your account to login.
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
Enables quick and easy registration for future events or learning and grants access to expert advice and valuable resources.
Enter your details below and create a login
Taxation of the Housing Sector Report is an update to the work undertaken in 2019.
This Report shows that:
“Australia has an acute shortage of housing because governments continue to tax new home building and impede productivity in the sector,” stated HIA Chief Economist, Tim Reardon.
“In Sydney, governments are adding in excess of half a million dollars to the cost of a new home, that new home buyers are then required to repay for decades as part of their mortgage.
“With half of the cost of a new home being taxes and government charges, new home buyers are spending 15 years of a 30-year mortgage just paying off that tax.
“New home buyers also have to pay interest on top of that tax. Over 30 years, the value of taxes plus the interest on it amounts to more than the value of the home itself.
“With government taxes, fees and charges so high, the term ‘house and land package’ may as well be changed to ‘house and tax package’.”
“In Brisbane and Adelaide, government taxes, fees and charges on new homes have doubled in five years. Not even the best, legitimate investment strategies could achieve that same level of return.
“The primary solution to resolve Australia’s housing shortages is to remove government taxes and red tape to allow the industry to deliver the homes Australians are demanding.
“Delays on getting approvals take much longer than the time it takes to actually build a home.
“New home building taxes appear to be the target of governments under fiscal pressure, seeking to find other sources of revenue. What they do not realise is that when they increase taxes on housing, there ends up being fewer of them.
“It is incongruous that governments set home building targets, while at the same time tax new home building even more. The more government tax new homes, the fewer homes will be built.
“Taxes on housing have not resulted in more of them being built. Higher taxes on new housing will only lead to fewer new homes and higher prices for existing homes.
“If governments were keen to solve the affordability problem, they need to look at the tax they are imposing on new housing,” concluded Mr Reardon.
“Two cuts to the cash rate have seen the volume of detached house building approvals rise to be 3.2 per cent higher than the same month last year,” stated HIA Senior Economist Tom Devitt.
“Building approvals data released today highlights the magnitude of the task ahead if we are to achieve the Government’s target of building 30,000 homes in the ACT over the next five years,” said Geordan Murray, acting HIA Executive Director ACT and Southern NSW.
“Today marks the beginning of the Key Apprentice Program which will provide new commencing apprentices working in residential building trades with financial incentives totalling $10,000,” said Steven Wojtkiw, HIA Deputy Executive Director, Victoria.
The Housing Industry Association (HIA) advises members of the updated requirements and guidance regarding the issuing of Certificates of Occupancy (CoO) under Section 152 of the Planning, Development and Infrastructure Act 2016 for Class 1a buildings.