Paces

New incentives to build investment properties

NEW incentives for investors to build rental properties include a 50 per cent land tax discount, and a full exemption from the absentee owner surcharge for up to 30 years.

The state government has rolled out the new incentives for eligible buildto-rent developments completed and operational between January 1, 2021 and December 31, 2031.

Originally announced to end in 2040, this support will now provide the certainty of a full 30-year concession to projects starting before 2032.

The government’s 50 per cent land tax discount from January 1, 2022, for eligible developments in the 20-21 budget, aims to encourage more investment in the expanding sector.

Build-to-rent provides a new approach to residential housing, where properties in a development are designed to be held for rental over the long term.

Following consultation with industry and relevant stakeholders, the government is providing more certainty for eligible developments due to be completed before the January 1, 2022, commencement date, with the aim that shovel-ready projects can confidently begin as soon as possible.

The sector presents an opportunity to increase rental supply, improve the diversity of housing choice and mix, and provide more long-term rental options.

Wellington Real Estate is teaming up with A Better Life For Foster Kids

this Christmas

By placing a gift under a tree in one of our offices in Sale, Stratford or Maffra you will be helping our communities most vulnerable children PleasehelpustomaketheirChristmas2021Special

Some gift suggestions: gift cards, beach towels & toys Please no books as they are too heavy topost. Please don ’twrapgifts.

For more details contact Bronwyn at

Wellington Real Estate on 5144 4574 or Heather on 0412 154 424

https://www.givenow.com.au/abetterlifeforfosterkids