How foreign investors will help fund Labor's housing scheme

A foreign investor buying a $2 million residential property can expect to pay $26,400 in foreign investment fees as of Friday July 29.

Treasurer Jim Chalmers speaks in Brisbane on Friday following a meeting with state and territory treasurers. Photo by Dan Peled/Getty Images “That will help us pay for our foreign investment regime and also fund our housing affordability policies, particularly our Help to Buy policy.” The scheme sees the government own a stake of the home and will be available to Australians with an income of up to $90,000 for individuals or $120,000 for couples.

“This will make a very small difference to the cost of buying a property in Australia, but it will make a very big difference to Australians and to their budget.”

Khemlani version two

China doesn’t have to invade Australia by force they just buy Australia outright

No thanks

Pure tokenism. Start measuring your car windows for curtains, people, because a lot more of you are going to end up living in them.

JEChalmers I also said even the ATO cannot ask that outside formal avenues with IRAS_SG. I said to the FIRB that it was overreach and abuse of power. DBS sided with the FIRB and I was reprimanded. I never attended another call with the FIRB MAS_sg

JEChalmers will you be reviewing the FIRB. When I worked dbsbank the FIRB asked for detailed tax information in excess of the questionnaire. I said no. I referred them to the annual report & there are formal mechanisms with SG Govt if they wanted that

I can't afford to rent I have no chance of buying. I'd rather the government build more social housing.

Wot is in it for them?

Another Kevin Rudd tumble. Hope not.

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Foreign investors slugged in first step towards Labor budget repairFees paid by foreign investors to buy property, farms and businesses will double as part of the federal government’s budget repair plan.
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'Unprecedented growth in house prices': OECD calls to cap tax breaks benefitting the richCapping tax breaks for housing could help reduce house prices and ensure that property is not concentrated in the hands of older and wealthier Australians, the OECD says. In Australia voted to continue incentives to landlords Yep exactly what Labor took to 2019 election and to some by elections with favourable support. They lost 2019 election due to miners in Qld and lies from Morrison not because of this prescient policy. But as usual they dumped all the good work in favour of low key. How about we just increase interest rates so the poor and the working middle class just stop buying houses instead? Or sell them cheap because they can’t service the mortgage?
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