NSW releases build-to-rent tax concessions

The NSW Government has set out new provisions for build-to-rent housing, and tax concessions for build-to-rent property.

NSW Treasurer Dominic Perrottet says, “We’ve levelled the playing field so build-to-rent developments will see similar overall amounts of State tax as comparable build-to-sell developments. To encourage more build-to-rent housing there will be a discount equivalent to at least a 50 per cent reduction on land tax and an exemption from foreign investor surcharges for eligible build-to-rent developments until 2040.”

To be eligible, the property must meet criteria set out in legislation and in the Treasurer’s Guidelines.