Tasmanian Budget targets housing, skills, and infrastructure

The Treasurer recently handed down the 2023/24 Tasmanian Budget. The budget focuses on building a strong, safe, and secure future for Tasmania through strong investment in housing and infrastructure, along with health and education. 

HIA advocated in the lead-up to the budget for further spending on measures that will help deliver increased housing supply. The Government has responded positively to HIA’s representations, with $1.5 billion allocated to provide 10,000 new social and affordable homes by 2032 and funding for the continuation of existing housing incentives and programs.  

This includes funding for Homes Tasmania to support its capital program; extension of the Residential Land Rebate initiative, First Home Owners Grant, MyShare Equity Program, and Headworks Holiday incentive; continuation of stamp duty concessions for downsizers and first home buyers; and the provision of grants of up to $10,000 for new ancillary dwellings.

While the ultimate success of this funding will depend on the government addressing land supply, tax, and planning issues, the spending on new housing is welcomed.