Feb 19 2019
Taxes in NSW Strangling Future Housing: HIA
Property Markets / Outlook
In the lead up to the NSW election, the NSW residential building industry is being strangled in red tape and taxes, said David Bare, HIA Executive Director NSW.
“43 per cent of the cost of a new house and land package is made up of taxes, charges and levies from all three tiers of Government,” said Mr Bare.
“Despite this, policies implemented by the State government continue to add to the tax burden for the housing industry.” “By way of example, in the past 18 months, the following regulations and taxes have been implemented or proposed, each one having a negative impact on housing affordability and supply.