Coalition promises stamp duty concessions
The NSW Liberal/Nationals Coalition will provide stamp duty concessions to rental accommodation investors to help address the affordable housing crisis, Shadow Minister for North Coast Don Page said.
Mr Page said the NSW Labor Government’s poor property policies like vendor tax and land tax discouraged investment in rental properties, exacerbating the rental accommodation crisis.
He said a NSW Coalition Government would establish a stamp duty concession of $4000 to investors providing rental accommodation.
“The investor concession will apply to new properties valued up to $500,000 where the purpose of the property is to provide rental accommodation, ” Mr Page said.
“The full concession will only be available if the property is retained as a rental property for more than five years.”
Mr Page said Centre for Affordable Housing figures showed only five to 25 per cent of rental properties in the Ballina, Byron and Tweed Local Government Areas had been deemed affordable.
“We need more people to invest in rental property to provide a return for them and help provide rental accommodation for tenants,” he said.
“The Coalition’s policy will create an incentive for investors and ensure the provision of affordable rental accommodation.”
