A VOTE FOR FAIR HOUS­ING RE­FORM IS AN OP­POR­TU­NITY

Comment News (Gosnells) - - Opinion -

THE State Gov­ern­ment pulls about a third of its rev­enue through prop­erty taxes, so it is im­per­a­tive our politi­cians get their stance on the hous­ing mar­ket right. Whichever party wins the March elec­tion will have to har­ness hous­ing af­ford­abil­ity con­cerns while help­ing the mar­ket to en­cour­age op­por­tu­ni­ties for buy­ers. REIWA ar­guably has its own agenda for stim­u­lat­ing a stag­nant mar­ket but the crux of its elec­tion cam­paign­ing is fair - if the cost of mov­ing in­creases, peo­ple nat­u­rally will move less. The peak real es­tate body wants the Gov­ern­ment to of­fer stamp duty ex­emp­tions en­cour­ag­ing se­niors to down­size, or “right-size”, their ac­com­mo­da­tion. It also seeks a 50 per cent duty dis­count for off-the-plan apart­ment pur­chases, which are as­sessed in full, while land pack­ages are as­sessed only on the land com­po­nent. Ei­ther act could in­spire more prop­erty trans­ac­tions. The abo­li­tion of land tax ag­gre­ga­tion rules, a freeze on prop­erty taxes and a State tax re­view round out REIWA's wish-list. It will be in­ter­est­ing to see how the ma­jor par­ties tackle hous­ing and if their strate­gies for votes pro­vide sat­is­fac­tory re­form.

Matt Zis, Ed­i­tor In Chief

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.