Tax rebates to address housing affordability crisis
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Renters might be feeling the pinch in their hip pockets lately, with the housing affordability index at a 24-year low. But the government has promised relief. The National Rental affordability scheme has been passed in parliament. The scheme gives up to $8,000 of tax incentives to developers for 50,000 new homes. The homes will be available at 20% below market rate and renters who meet low-income requirements will be able to apply. But will this really address the affordability crisis?
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