Review of Stapled Structures
The decision of the Treasurer to extend the review into Stapled Securities is the right path that should provide certainty to the industry while ensuring that the integrity of the tax system is maintained.
"The 14.1 million Australians with direct or indirect exposure to property through their superannuation funds need us to get it right", said Ken Morrison, Chief Executive of the Property Council of Australia.
"The Treasurer's decision to pursue an orderly process that allows rational decisions to be made is sound.
"Australia has a mature and sophisticated property industry that is regarded as the gold standard globally, so we are pleased the Government is taking a cautious approach to potential reforms.
"Retention of the current tax framework for the property industry through the process is essential in building confidence and certainty.
"We look forward to working with government on an approach that sensibly works through solutions required to deal with integrity issues but maintains the acceptable use of stapled structures.”