Government’s announce to lower MIT withholding tax rate for build-to-rent.
Having been active in the BTR space for the past few years everyone at Pi is very encouraged that this asset class is approaching a level playing field with other insitutional real estate investments products.
This paradigm shift means the investable universe of our beds strategies might just be expanding in the way we always hoped.
We look forward to this becoming a reality.
Very welcome news indeed.
Link to Property Council of Australia’s full article - click here
“Today’s announcement is a strong step toward addressing and reversing Australia’s growing housing shortage.” - Michael Zorbas, Chief Executive, Property Council of Australia
The Property Council of Australia has today welcomed the Australian Government’s announcement to lower the Managed Investment Trust withholding tax rate from 30 to 15 per cent for build-to-rent housing projects.
The Property Council has championed these public policy reforms for many years as an essential part of addressing our growing national housing supply deficit.
A recent study by EY, commissioned by the Property Council, showed levelling the withholding tax rate, in line with investment in other property asset classes, could create an extra 150,000 Australian homes over the next decade.
