NSW treasurer wants to stop ‘long-term rentals being pulled from the market and short-term rentals taking their place’ during housing crisis
The New South Wales government is considering following Victoria’s lead by imposingThe NSW premier, Chris Minns, and senior ministers said they were open to imposing a levy to boost revenue and encourage owners to put their properties back on the long-term market amid the ongoing housing crisis.
The treasurer, Daniel Mookhey, has ordered Treasury to study Victoria’s 7.5% tax and examine the impact of similar measures overseas.“What is happening in Victoria is similar to what’s happening in NSW, which is similar to what’s happening in places like California, Spain, London as well. We are seeing long-term rentals being pulled from the market and short-term rentals taking their place.
Andrews described it as a “modest” measure and refused to compare it with other fees charged internationally. The NSW opposition leader, Mark Speakman, said on Thursday he was pleased Andrews was giving housing reform a “red hot go” but the Coalition would not support such a levy.“The government went to the election promising no new taxes, so they certainly shouldn’t be looking at an“It’s a breach of promise. It’s a breach of faith. You go to the election saying no new taxes – you should keep your promise.
The opposition leader said there was, however, a public appetite to see housing affordability better addressed.