Industry Super chief economist, Dr Stephen Anthony, has proposed that affordable housing tax credits could be the missing link in resolving Australia’s housing affordability crisis.
Anthony said the tax credits would allow institutional investors to write down or write off every dollar invested without impacting vital rate-of-return benchmarks upon which project viability often rests.
The national shortage of sub-market rentals and emergency housing is now 350,000, and in NSW and Victoria, 40 to 60 per cent of urban households are locked out of rental markets, he said.
Housing distress leads to homelessness, wage stagnation and welfare dependency - and the productivity loss levies an economic burden on all levels of government, Dr Anthony said.
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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