news.com.au/couriermail/stor … 02,00.html
Schame to make cheap rentals available within two years
A federal subsidy scheme comprising developers, community housing advocates and local government.
Developers will get $60,000 Rental Tax credit plus $20,000 direct incentive to build new dwellings for rent at 80% market value.
Yet more proof that Aus government is in the thrall of Corporate Feudalism with tax breaks and ‘gift’ incentives of $80,000 (per unit) for developers.
The question needs to be asked (but not by any journalist or invested interest mind you).
Why was this incentive, or similar, not offered to potential first home buyers?
Answer. If it was offered to renters (potential FHO), they, as renters would no longer make up part of the vested interest’s rental portfolios.