HIA summit to tackle housing affordability, tax reform

The Housing Industry Association kicks off their sixth annual Building Better Cities Summit Tuesday, this year themed around tax system reform.

The summit, titled Taxing the Australian Dream: Can we get the tax off housing? will look at how to reverse the tax impost on new housing and how governments can support infrastructure and community services.

HIA spokesman Greg Weller said due to an underlying structural budget deficit and a growing demand for government services, in particular in the health and education areas, a realignment of the taxation and transfer system appears inevitable.

“With an eye to the future, now is the time to consider the impact of the current unfair taxation burden placed on new housing. This reduces housing affordability and limits growth in the wider economy.”