Industry super funds pressure government to reform tax, prioritise affordable housing

Abstract

Industry superannuation funds are urging federal and state governments to overhaul the tax system, provide incentives for institutional investors to get behind low-cost housing projects and form a new national affordable homes strategy.

Industry Super Australia chief economist Stephen Anthony said national cabinet, organised during the coronavirus pandemic to allow state and federal government leaders to coordinate responses, was the ideal structure to create a nationwide plan for low-cost housing.

“Most of the issues to do with affordability are outside the control of each state government,” Mr Anthony said. While planning and zoning issues were state and local government concerns, major tax reform required federal buy-in, he said.