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.
BlackRock boss Larry Fink praised Australia’s superannuation system in his annual chairman’s letter.
The prudential regulator has announced it will publish new expenditure data of superannuation funds, providing details on expenses like advice, director remuneration, and payments to unions.
Affirming the UK’s growing attractiveness as an investment destination, a number of Australia’s largest investors recently joined the UK Foreign Secretary for an exclusive briefing in Canberra to discuss further opportunities for trade and growth.
The specialist superannuation law advisory practice is set to wind up, with managing partner Jonathan Steffanoni planning to bring a new offering to market.
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