❓ Mr Millman asks about the impact of the government's $33 million transfer duty concession on home ownership and housing supply. The Minister responds by outlining various initiatives including planning reforms, infrastructure funding, build-to-rent concessions, and stamp duty rebates for infill developments, highlighting positive stakeholder feedback and contrasting it with the opposition's lack of policies.
AnsweredQoN 335Legislative Assembly
QuestionView source ↗
TRANSFER DUTY CONCESSION
335. Mr S.A. MILLMAN to the Minister for Housing:
I refer to the McGowan Labor
government's commitment to increasing affordable housing options for Western
Australians.
(1) Can the
minister outline to the house how this government's $33 million
investment in transfer duty concessions will give more Western Australians the
opportunity to achieve their home ownership goals?
(2) Can the
minister advise the house how this initiative builds on other measures to boost
the housing supply in WA?
335. Mr S.A. MILLMAN to the Minister for Housing:
I refer to the McGowan Labor
government's commitment to increasing affordable housing options for Western
Australians.
(1) Can the
minister outline to the house how this government's $33 million
investment in transfer duty concessions will give more Western Australians the
opportunity to achieve their home ownership goals?
(2) Can the
minister advise the house how this initiative builds on other measures to boost
the housing supply in WA?
AnswerView source ↗
I want to thank the member for his
question.
(1)–(2) As
I have reported regularly to this Parliament, our government is using every
lever it can to accelerate the delivery of housing in Western Australia. We
have undertaken a number of different reforms to drive that supply. Under the Minister for Planning we have announced a second
tranche of planning reforms to encourage, foster and facilitate the
chipping away of barriers to density and infill. We have announced an
infrastructure fund of $80 million—$40 million to support infill
headworks, and $40 million for infrastructure headworks for workers'
accommodation.
Yesterday we introduced in Parliament
legislation that will bring in a 50 per cent land tax concession for
build-to-rent. Build-to-rent is part of the answer for facilitating more rental
housing supply in Western Australia and it is based on successful models around
the world. On Saturday I detailed one of the latest initiatives we revealed in
the budget, which is the establishment of an up-front concession lifting the stamp duty rebate, so to speak, for infill and
density. In short, that means that there will be a 100 per cent concession for properties valued at up to $650 000,
lifted from $500 000. That will taper off to a 50 per cent concession
for properties valued at more than $750 000. That means that we are creating an
incentive for more density and more infill,
and we know that is critical to creating housing choices in Western Australia.
It has been pleasing to see that
major stakeholders have again embraced our reforms. I quote –
A great announcement to extend
stamp duty concessions on off the plan apartments in the State Budget to
support new apartment projects � Well done
That is from a great friend of
ours, Sandra Brewer from the Property Council of Australia and maybe a Liberal
aspirant; but it is brilliant to see that at least some parts of the
conservative movement recognise great policy and great reform.
We also had commentary in an
article by the CEO of the Urban Development Institute of Australia WA, which
stated —
Combined with already announced
land tax concessions for Build-To-Rent which are now supported by recent Federal Government taxation changes, future supply
of rental accommodation is also looking brighter following the budget
announcements.
These are major stakeholders in
the sector endorsing and embracing our reform. Again, I say contrast that with the opposition: six years, no policies; zero,
zilch. You cannot find them; it is a bit like Where's Wally ? It is missing in action. There is not one policy from the opposition for
boosting housing supply. We would think that after six years it might have
knocked something out. There is a very clear difference between that side and
ours as we pursue every reform we can to boost housing supply in Western Australia.
question.
(1)–(2) As
I have reported regularly to this Parliament, our government is using every
lever it can to accelerate the delivery of housing in Western Australia. We
have undertaken a number of different reforms to drive that supply. Under the Minister for Planning we have announced a second
tranche of planning reforms to encourage, foster and facilitate the
chipping away of barriers to density and infill. We have announced an
infrastructure fund of $80 million—$40 million to support infill
headworks, and $40 million for infrastructure headworks for workers'
accommodation.
Yesterday we introduced in Parliament
legislation that will bring in a 50 per cent land tax concession for
build-to-rent. Build-to-rent is part of the answer for facilitating more rental
housing supply in Western Australia and it is based on successful models around
the world. On Saturday I detailed one of the latest initiatives we revealed in
the budget, which is the establishment of an up-front concession lifting the stamp duty rebate, so to speak, for infill and
density. In short, that means that there will be a 100 per cent concession for properties valued at up to $650 000,
lifted from $500 000. That will taper off to a 50 per cent concession
for properties valued at more than $750 000. That means that we are creating an
incentive for more density and more infill,
and we know that is critical to creating housing choices in Western Australia.
It has been pleasing to see that
major stakeholders have again embraced our reforms. I quote –
A great announcement to extend
stamp duty concessions on off the plan apartments in the State Budget to
support new apartment projects � Well done
That is from a great friend of
ours, Sandra Brewer from the Property Council of Australia and maybe a Liberal
aspirant; but it is brilliant to see that at least some parts of the
conservative movement recognise great policy and great reform.
We also had commentary in an
article by the CEO of the Urban Development Institute of Australia WA, which
stated —
Combined with already announced
land tax concessions for Build-To-Rent which are now supported by recent Federal Government taxation changes, future supply
of rental accommodation is also looking brighter following the budget
announcements.
These are major stakeholders in
the sector endorsing and embracing our reform. Again, I say contrast that with the opposition: six years, no policies; zero,
zilch. You cannot find them; it is a bit like Where's Wally ? It is missing in action. There is not one policy from the opposition for
boosting housing supply. We would think that after six years it might have
knocked something out. There is a very clear difference between that side and
ours as we pursue every reform we can to boost housing supply in Western Australia.
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