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Buyers need carbon tax compensation: HIA

By webmaster
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The federal government has not indicated whether its carbon tax policy, due to be announced this Sunday, will include any compensation for what a leading industry body expects will be an additional $6,000 for the cost of a new home.

Yesterday, Housing Industry Association chief executive Graham Wolfe told Smart Property Investment that the federal government has completely ignored the damaging impact the proposed tax will have on housing affordability, Australian manufacturing, capital investment and jobs.

“The government is less than prepared to acknowledge the certain impact this tax will have on the housing industry and new home buyers, and have failed to provide any compensation,” he said.

“There will be an immediate and inevitable flow of cost increases, across the broad range of building materials, products, fixtures and fittings, with new home buyers left to fit the bill.”

While the federal government will unveil details and the estimated cost of the carbon tax this Sunday, the HIA believe home buyers will be forced to pay an additional $6,000 for the cost of a new home, while average mortgage repayments will increase $43 a month.

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