Tax deductions you can claim on your investment property
Investment properties (or properties used for income-producing purposes) have unique tax deductions that you can use to ...
The Housing Industry Association has slammed the federal government’s carbon tax.
The company’s chief executive – association, Graham Wolfe, said the current carbon pricing is already impacting negatively on confidence levels and investment certainty.
If the government’s planned carbon tax is implemented, Mr Wolfe said its impact on housing affordability, Australian manufacturing, capital investment and jobs would be significant.
“HIA’s position on the government’s proposed tax on carbon emissions was revisited by its National Policy Congress and National Manufacturers Council last week at HIA’s national conference. Both peak bodies were unanimous in their rejection of any carbon tax, pointing out that a tax on carbon emissions will flow through to adversely affect all building products and all sectors of the construction industry,” Mr Wolfe said.
“National Policy Congress and the National Manufacturers Council members were in no doubt that a carbon tax will damage the Australian economy and particularly the building industry, whose consumers cannot afford to pay this new tax.
“Building product manufacturers and new home buyers across Australia will be the hardest hit by a carbon tax.
“There will be an immediate and inevitable flow through of cost increases across the broad range of building materials, products, fixtures and fittings. At $20 per tonne, a carbon tax will add an extra $6,000 or more to the cost of building an average new residence, placing additional affordability pressure on new housing activity, and adding $43 extra per month to family mortgage repayments.”