The Urban Development Institute of Australia (UDIA WA) welcomes a new report launched by the Chamber of Commerce and Industry WA (CCI WA) that provides a strong evidence base for committing to stamp duty reform in Western Australia.
UDIA WA have long-advocated for property tax reform and highlighted the handbrake that stamp duty places on households being able to transition to appropriate accommodation that suits their current life stage without financial penalty.
“There must be a serious sense of urgency to address this barrier in order to help mitigate the impact of the dire rate of housing under-occupation on supply,” UDIA WA CEO Tanya Steinbeck said.
“In an environment where we have very little housing choice, record low rental vacancy rates, a shortfall in established residential stock and serious delays to new construction – disincentivising people to right size now and in the future has and will continue to have unintended consequences,” Ms Steinbeck said.
“UDIA congratulates CCI WA on this work and welcomes the opportunity to work with the State Government and other industry bodies to be bold and finally tackle this barrier to social and economic prosperity,” Ms Steinbeck said.
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Contact
Gemma Osiejak
Executive Manager Communications & Marketing
P: 0421 506 819
E: gosiejak@udiawa.com.au