{{propApi.title}}
{{propApi.text}} {{region}} Change location{{propApi.title}}
{{propApi.successMessage}} {{region}} Change location {{propApi.title}}
{{propApi.text}} {{region}} Change location{{propApi.title}}
{{propApi.successMessage}} {{region}} Change locationLittle for housing industry in tough state budget
Little for housing industry in tough state budget
Member and guest login
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.
Forgotten password
Need some help?
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
If the email address you have entered is registered, you will receive an email with further instructions.
Become part of the HIA community
Enables quick and easy registration for future events or learning and grants access to expert advice and valuable resources.
Create a guest account
Enter your details below and create a login
While recognising this year’s state budget reflects a much-needed recommitment by the state government to repay COVID debt and improve Victoria’s longer term financial position, HIA is disappointed the budget does not do more to immediately support Victoria’s vitally important residential building industry.
HIA Executive Director, Victoria, Keith Ryan said the stamp duty reforms for commercial and industrial property are positive and the commitment to abolish stamp duty on business insurance over ten years is also good news.
“In coming years, the retention of stamp duty for residential property will be increasingly difficult to defend. Stamp duty is an inequitable and inefficient tax that also does not provide a reliable revenue stream for governments.
“It would have been better to have residential property included in the reforms announced today. HIA expects that stamp duty will eventually be abolished for all real estate transactions once the budget returns to a surplus.
“While steps to rein in the steep rise in state debt through the COVID Debt Reduction Plan are necessary, large businesses with national payrolls above $10 million a year will shoulder much of the burden through a temporary additional payroll tax until 2033.
Landholders also face higher costs from 1 January 2024 when the tax-free threshold for general land tax rates will decrease for ten years. Those who pay land tax will attract a temporary additional fixed charge up to $975 and the tax rates will temporarily increase by 0.1 per cent for both general and trust taxpayers. The family home will remain exempt. These tax increases will not help housing affordability or the supply of new housing.
“The government hopes these steps, along with other revenue measures, will see the budget return to an operating surplus in 2025/26.
More positive is the budget’s support for small business with the payroll tax-free threshold rising to $900,000 from 1 July 2024, with a further increase to $1 million from 1 July 2025. The government estimates this will save money for more than 26,000 small businesses, including 6,000 businesses that will stop paying payroll tax altogether.
“With a tough budget out of the way, the residential building industry is looking to the Victorian Government to turn its attention to delivering on its commitment to overhaul domestic building contract laws and accelerate planning reforms that keep the momentum of home building activity positive and growing, concluded Mr Ryan.
For more information please contact:
Legislation passed to overhaul Victorian planning
The Victorian Parliament has passed the Planning Amendment (Better Decisions Made Faster) Bill, which makes some of the most substantial changes to planning and environment legislation since the Planning and Environment Act introduced in 1987.
Proposed Minimum Financial Requirements for home builders
The Victorian government has released, for public comment, details of the proposed Minimum Financial Requirements (MFR) for home builders to maintain registration. They will be enforced by the Building and Plumbing Commission (BPC).
Planning reforms won't see more homes till 2028
“HIA welcomes the passing of planning reform legislation yesterday but claims by the Victorian government these reforms ‘back builders’ and will deliver more homes are premature,” stated HIA Victorian Executive Director, Keith Ryan.
North Qld - Annual Meeting of Members
Our Annual Regional Meeting of Members (ARMM) is set for 25th February 2026 at 7.30am.