Property Council welcome LNP’s Build-to-Rent incentives
The Property Council supports the LNP’s announcement that they will implement a 75 per cent reduction in land tax and provide foreign investor tax exemptions for eligible Build-to-Rent projects if elected.
The Property Council has been strongly advocating for the progression of Build-to-Rent in Queensland as part of its 2020 Election priorities.
If implemented, the LNP’s proposal will entice much-needed private investment to Queensland and create thousands of construction jobs to support Queensland’s recovery from COVID-19.
“The Property Council applauds the LNP’s announcement, which will stimulate and attract much-needed large-scale private investment into Build-to-Rent housing in Queensland,” said Chris Mountford, Queensland Executive Director of the Property Council of Australia
“In the lead up to the Queensland Election, the Property Council has reinforced the important role the private sector plays in generating the economic activity necessary for Queensland to rebound from the impacts of the health pandemic,” Mr Mountford said.
“With global competition for investment more fierce than ever, Queensland must make bold policy decisions to ensure we are able to compete with other jurisdictions.
“Investment in housing is one of the most powerful and important job keepers and job multipliers in the economy.
“We are delighted the LNP has committed to exceed the NSW Government’s Build-to-Rent land tax incentives, which will make Queensland the most competitive jurisdiction in Australia for these projects.
“NSW’s tax changes caused major investors to reconsider their investment plans, and with even greater incentives on the table, this announcement will put Queensland firmly on the investment map,” Mr Mountford said.
Property Council of Australia
Chris Mountford | M 0408 469 734 | E [email protected]