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Question and Answer Tracking Details

574 - LOW COST HOUSING LAND TAX DISCOUNTS

Greenwich, Alex to the Minister for Planning and Public Spaces representing the Treasurer

(1) What assessment has been done on the appropriateness of existing maximum tariffs for land tax exemptions for boarding houses to ensure they encourage new investment in the industry?

(2) To what extent will the Government review the maximum tariffs for land tax exemptions for boarding houses?

(3) What is the justification for excluding brownfield ‘refurbish to rent’ housing projects from land tax discounts given brownfield refurbish projects can reduce build timeframes and deliver more homes quicker, have lower carbon footprints than greenfield projects and reduce community construction disruptions?

(4) What consideration will the Government give to extending the 50 percent land tax discount to brownfield refurbish to rent housing projects to deliver more affordable housing?
Answer -
LOW COST HOUSING LAND TAX DISCOUNTS

(1 – 2) I am advised that Revenue Ruling L T-113 was issued on 19 December 2022 providing information regarding the 2023 land tax year. The previous Government determined the maximum tariffs for different types of accommodation included in the eligibility criteria for a registered boarding house to receive a land tax exemption are adjusted annually. Boarding houses are recognised as providing an important component of the supply of affordable housing in NSW and tariffs aim to strike an appropriate balance between discouraging unfair fee increases while ensuring the viability of a continued supply of available places.

(3) I am advised that the land tax concession for build-to-rent projects was introduced in March 2022 to stimulate construction activity. The conditions for eligibility for the concession were developed by the previous Government following extensive consultation with industry.

(4) Housing supply and affordability are important concerns for the current Government and options to address these issues are being considered. I would be open to discussing this issue with you.

Question asked on 21 June 2023 (session 58-1) and printed in Questions & Answers Paper No. 11
Answer received on 26 July 2023 and printed in Questions & Answers Paper No. 16

The Parliament of New South Wales acknowledges and respects the traditional lands of all Aboriginal people, and pays respects to all Elders past and present. We acknowledge the Gadigal people as the traditional custodians of the land on which the Parliament of New South Wales stands.