Foreign investors to be slapped with huge penalties for leaving homes vacant
Foreign investors to be slapped with huge penalties for leaving homes vacant
Penalties for foreign investors who leave homes vacant will face a sixfold increase, in a measure the federal government says will free up more housing stock.
Typical of this Labor govt, this policy is about appearing to do something, than actually doing it effectively.
Why not have levies for all houses sitting vacant, not just foreign owned? Why not make annual fees higher and higher if you own more than say 3 properties? How about fees for land banking in cities ?
Also better make sure that a house used for air BNB 2 weeks a year doesn't count as being used.
GIVE. US. A. DOBBERS. LINE.
Just about everyone in the fucking street will know if a place is vacant
Why just foreign investors?
Because half the parliament & senate has investment properties and they don't want any responsibilities to actually rent them out to the plebs?
Imagine a temporary amnesty on squatting for all properties vacant for over a certain time limit. That would get them moving.
There is the risk of property damage and antisocial behaviour if people arenβt supported but itβs shameful that itβs got to this point.
about F'n time!
This is the best summary I could come up with:
Foreign investors who leave property they own vacant will be slugged with charges of upwards of $169,000 under a federal government plan to free up more housing stock.
But Nationals leader David Littleproud said he didn't expect it to move the needle, because foreign investors were rich enough to afford the hiked fees.
Mr Littleproud said rules that require foreign buyers to hold at least temporary residency should be extended to either suspend foreign-owned purchases during the housing crisis, or ban them entirely.
Mr Chalmers said it was not clear how many were being left vacant, which was why the government would enhance compliance regimes within the tax office to ensure foreign investors were adhering to the rules.
"We are confident by increasing the fees in this way we will add to housing stock in this country, we'll put more properties on the rental market, and that means more opportunities for more Australians to find an affordable home."
Separately, as the treasurer prepares to release the mid-year budget update this week, Mr Chalmers has flagged gross debt has fallen in forecasts for the forward estimates.
The original article contains 509 words, the summary contains 185 words. Saved 64%. I'm a bot and I'm open source!