Land Tax Exemption
An innovative pilot program which encourages landlords to rent through a Community Housing Provider by providing a land-tax exemption should be considered in Western Australia according to Shelter WA.
The two-year pilot program running in the Australian Capital Territory (ACT) lets landlords skip land tax if they rent their properties to tenants who aren’t eligible for public housing through a registered community housing provider. Landlords who rent for 25 per cent less rent than market value don't have to pay land tax.
The legislation took effect from April 1, 2019 and a maximum of 100 properties will be eligible for the land tax exemption during an initial pilot period ending 30 June 2021.
Shelter WA Chief Executive Officer, Michelle Mackenzie said innovative responses to facilitate affordable rental housing needs to be considered in WA.
"This response looks like a win-win," Ms Mackenzie said.
"It secures long term tenants and great property management for landlords and increases the supply of affordable rental properties."
Shelter WA will work closely with Shelter ACT to understand the impact of this program.
This page has no comments.