The ACT Government has indefinitely extended land tax exemptions for landlords who rent their properties at less than 75% market rates, to help address rental affordability across Canberra.
As stated by the Chief Minister Andrew Barr:
“Rental property owners in the ACT can reduce their land tax completely if they provide their rental property to Canberrans on low to moderate incomes through a registered community housing provider.
“Landlords are now being encouraged to sign up to the scheme to increase the amount of affordable rentals in the Territory while they reduce their rental property liabilities.
“Legislation passed in the Legislative Assembly this week removes the expiry date for the scheme, which has been increased from 125 to 250 properties.
“Incentives such as these empower the community to make a real difference to people’s lives. There are currently 54 landlords involved in the scheme which means 54 more families with a safe, secure home they can afford.
“Every Canberran, no matter their circumstances, should have access to safe and affordable housing that suits their needs.”
As stated by Minister for Homelessness and Housing Services Rebecca Vassarotti:
“We all know that Canberra is expensive to rent and that there is a lack of affordable housing options particularly for those on low incomes. While both the Federal and ACT Governments have a key role to play in responding to affordability, the land tax exemptions scheme is an opportunity for our community to get involved in a direct, visible, and people-focused approach to the housing crisis.
“These changes will empower more Canberrans to contribute a significant piece of the puzzle as we work toward ensuring everyone has a place to call home.
“We hope that changes such as this will help to transform the view of housing, as a right and a community good rather than as a vehicle for wealth generation.
“This alone can’t solve the affordability crisis, but an important initiative to actively engage homeowners who care to help Canberrans in need access a home. It’s not just a tax incentive, it’s a contribution landlords can be proud of.
“There’s been recent growth in the number of landlords who have actively played a part to respond to the rental affordable issues we face in the ACT. This is one of the reasons we were keen for this to be extended indefinitely.
“It is fitting that this is one of the first things we’re delivering from the Parliamentary and Governing Agreement for the Tenth Assembly, given our commitment to provide more housing options to achieve a home for all.
“While the ACT Government remains committed to ensuring equitable access to housing for all Canberrans, we need the Federal Government to step up by investing in much needed social housing. It is a missed opportunity in this week’s to stimulate the economy and address the housing crisis nationally.
“One bright spot is the Commonwealth’s continuation of the Equal Remuneration Order for Specialist Homelessness Services. While the ACT Government was never going to leave services short, this commitment means certainty for vital services.”