NSW adds to specufestor woes

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Via Domain:

The Berejiklian government will cut land tax for the next 20 years for new build-to-rent housing projects in an Australian-first designed to give renters longer-term leases.

NSW will give a 50 per cent discount on land tax to developers who invest in build-to-rent schemes, which are designed to provide better quality rental properties and long tenancy agreements.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.