UDIA National has lodged its submission to a new Inquiry by the House of Representatives Standing Committee on Tax and Revenue into the critical issue of housing supply and affordability.
UDIA’s submission details sweeping policy reforms needed to overcome the high tax, planning and regulatory barriers that have doomed housing supply. These include:
- The Commonwealth undertaking wholesale tax reform in partnership with the states to shift away from stamp duty
- Fixing environmental approvals, with a particular focus on streamlining arrangements under the Environment Protection and Biodiversity Conservation (EPBC) Act
- Unlocking better land use outcomes from Commonwealth investment in infrastructure, and innovation solutions to fund enabling infrastructure
- Making permanent the annual allocation of 10,000 places under the First Home Loan Deposit Scheme which are exclusively available for new or newly constructed homes
- Accelerating the research mandate of the National Housing Finance and Investment Corporation (NHFIC), and
- Applying a new incentives-based model that holds states accountable for the delivery of housing supply requirements and using league tables to transparently report on outcomes.