Greens’ land tax exemption to help tackle housing affordability crisis

 

A move from the Greens to tackle the ACT’s housing crisis has finally been realised in a new land tax exemption for socially responsible landlords.

Onwards from a Greens motion in the Assembly last year, the Government will now allow landlords to claim an exemption on their land tax if they rent their house out to eligible low and moderate income tenants through a registered community housing provider.

“Renting out properties below market rates is a great opportunity for people who are prepared to go part of the way to help their fellow Canberrans,” Greens Housing spokesperson Caroline Le Couteur said today.

“Offering a land tax discount to these landlords is an incentive and a reward for doing something concrete, and quite significant, to address the ACT’s housing affordability crisis.

“The Greens are really pleased to see this item from the 2008 Parliamentary Agreement finally realised.

“In terms of leveraging affordable rental outcomes, this represents excellent value for Government investment.

“The Government should also ensure that landlords are made aware of this opportunity,” Ms Le Couteur added.

The legislation provides for the scheme to run for two years at this stage. However, the Greens believe that take-up could be improved if this were an ongoing scheme.

This scheme will also assist with the implementation of a 2016 Labor-Greens Parliamentary Agreement item, which is the establishment of a not-for-profit real estate agency, based on Homeground in Victoria. Local community housing provider, CHC, has won the contract to provide this service.