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 ...
Concerns that a carbon tax could push up the cost of new homes have been voiced again by the property industry.
Master Builders Australia yesterday announced it would not support a carbon tax unless the issue of increased costs to the building industry are addressed.
According to Master Builders', the building and construction industry could see costs go up by at least five per cent if the carbon tax goes ahead.
"These concerns have been expressed in writing to Minister Combet in the last month and at a meeting with Minister Combet's senior advisers in a meeting at Parliament House today,” Master Builders chief executive Wilhelm Harnisch said.
"The role of the building industry in helping reduce carbon emissions is recognised but what is not well understood is that the building industry is already playing a proactive role through increased mandatory efficiency stringency measures.”
"These measures will see carbon emissions reduce over time and must be taken into account in the architecture of a market based response by government,” he said.
Last month the Housing Industry Association’s Graham Wolfe said the current carbon pricing is already impacting negatively on confidence levels and investment certainty.
Should the government’s planned carbon tax be implemented, Mr Wolfe said its impact on housing affordability, Australian manufacturing, capital investment and jobs would be significant.
“Building product manufacturers and new home buyers across Australia will be the hardest hit by a carbon tax,” Mr Wolfe said.
“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.”