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A GST Hike Of 15% Will Mean $50,000 Tax On New Homes

This week, the House of Representatives Economics Committee Inquiry into Home Ownership heard from the Housing Industry Association that the proposed 15 per cent GST would see new homes cost an extra $50,000.

The Abbott Government along with Treasurer Joe Hockey have shown they are so out of touch that they don’t understand that housing affordability is a major concern right across the Australian community, not just for those looking to buy their first home.

Shadow Treasurer Chris Bowen said this week,”Joe Hockey’s famous solution to housing affordability is to get a better job, Tony Abbott and Joe Hockey have done nothing to help first home owners or housing affordability..”

“Tony Abbott and Joe Hockey are determined to push on with an increase in the GST, despite the continued opposition from a number of State Governments and despite promising not to change the GST on 33 separate occasions prior to the last election.” commented Mr Bowen.

The HIA’s also provided sobering information for NSW Premier Mike Baird, who has supported Tony Abbott in hiking up the GST by 50 per cent. According to the HIA delays in providing transport infrastructure in NSW were negatively impacting on housing affordability.

 

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