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Foreign investment in ‘build-to-rent’ (BTR) property developments are currently subject to a 30% withholding tax. However, the standing committee on tax and revenue’s recent report into housing recommended an end to the tax, which has been a point of contention for some time between the federal government and the commercial property sector. The sector says the government should heed the advice of the committee and cut the tax in the 2022 Budget.
From The AFR:
“We want to see the Falinski recommendations adopted in full, including the review into BTR and land tax,” Urban Development Institute of Australia president Maxwell Shifman said…
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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