The Property Council of Australia (PCA) has called for fundamental tax reforms to bring about a fairer, more efficient and sustainable property market.
Reforms are planned to be implemented in the Australian Capital Territory (ACT) in the coming months and the PCA has therefore called for a new five-year plan to bring about significant productivity improvements for the industry over the coming years.
Earlier this year, the ACT government announced a 20-year proposal for the reform of the sector, but the PCA now wishes to see a more in-depth short-term plan to bring about considerable gains sooner rather than later.
In July, the Housing Industry Association highlighted widespread weakness in the Australian property market and called for government action to address this issue.
The organisation stated its belief that significant reforms are required to ensure thousands of out-of-work individuals in the construction sector are given the chance to re-enter the industry over the coming years.
Posted by Steve Douglas