HIA calls for tax reform

Bendigo Weekly | Bendigo Weekly | 21-Aug-2015

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EDWARDIAN: 26 Honeysuckle Street
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The Housing Industry Association (HIA) has used its annual Building Better Cities Summit to again push for reform of Australia’s tax system.

HIA spokesman Greg Weller said tax reform was the biggest economic issue on the national agenda.

“Due to an underlying structural budget deficit and a growing demand for government services, in particular in the health and education areas, a realignment of the taxation and transfer system appears inevitable,” he said. 

“With an eye to the future, now is the time to consider the impact of the current unfair taxation burden placed on new housing. This reduces housing affordability and limits growth in the wider economy.” 

The sixth iteration of the HIA’s Building Better Cities Summit, titled Taxing the Australian Dream: Can we get the tax off housing? was staged in Sydney last week.

THE Australian Securities and Investments Commission has released a report that found some lenders providing interest-only mortgages need to lift their standards to meet important consumer protection laws.

ASIC’s probe into interest-only home loans was announced in December, and looked at 11 lenders, including the big four banks, to assess how they comply with responsible lending laws.

As the national regulator for consumer credit and responsible lending, ASIC identified demand for interest-only loans had grown by around 80 per cent since 2012. 

The review looked at how consumers were assessed for loans by lenders with a focus on the affordability of the loans over the longer term.

It found that interest-only loans were more popular with investors and those on higher incomes, and that delinquency rates are currently lower for interest-only home loans.

ELDERS Bendigo will auction a large four-bedroom home in one of Strathdale’s most sought after positions this weekend. The property at 6 Sugar Glider Way is set on a massive 2839 square metre allotment, and includes a stunning architect designed home offering executive living at its best, with the state forest providing a peaceful backdrop.

With ample room for a pool or tennis court, a large brick shed offering a variety of uses, all set on a rolling low maintenance landscape, the property is set for auction onsite from 10am Saturday.

Elders also has a modern two-bedroom townhouse at 2/16 Station Street, Kangaroo Flat to auction from 11.30am Saturday. Conveniently located close to schools, local shops, transport and recreation facilities, the property offers vacant possession and should prove attractive to investors, first home buyers and retirees alike.

Tweed Sutherland First National’s Matt Leonard will auction an attractive four bedroom, two bathroom solid brick Edwardian home at 26 Honeysuckle Street, from 11am, Saturday, August 22. 

The home is set on approximately 550 square metres on a corner allotment, and has been wonderfully restored to include a modern extension at the rear of the home.

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