The Morrison Government has been accused of stifling the development of a “build-to-rent” sector in Australia. This follows the passage of laws last week that would ban managed investment trusts from acquiring residential property unless the property is targeted at low-income consumers. This law, in turn, will reportedly prevent apartments from being built and rented out on a long-term basis. From The AFR:
BDO national tax director Lance Cunningham said the government’s moves to improve taxation of stapled structure arrangements and limit access to some tax concessions for foreign investors had turned what was an affordable housing measure into a penalty system…
