{"id":34798,"date":"2025-09-10T01:03:17","date_gmt":"2025-09-09T15:03:17","guid":{"rendered":"http:\/\/www.16news.com.au\/?p=34798"},"modified":"2025-09-10T01:03:17","modified_gmt":"2025-09-09T15:03:17","slug":"boosting-new-homes-for-renters","status":"publish","type":"post","link":"http:\/\/www.16news.com.au\/index.php\/2025\/09\/10\/boosting-new-homes-for-renters\/","title":{"rendered":"Boosting new homes for renters"},"content":{"rendered":"\n<p>The Minns Labor Government has today introduced a bill to Parliament extending tax cuts to boost new build-to-rent homes.<\/p>\n\n\n\n<p>The legislation means that owners of an eligible new build-to-rent development will be able to access a land tax concession indefinitely, rather than the previous end date of 2039 which was set by the former government.<\/p>\n\n\n\n<p>This ongoing program provides:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A 50 per cent reduction in the assessable land value of eligible build-to-rent properties. There is no cap on the number of years owners can apply for the concession,<\/li>\n\n\n\n<li>Eligibility requirements including that construction have commenced on or after 1 July 2020 and the building has not been used for any other purpose, and<\/li>\n\n\n\n<li>A prohibition stopping build-to-rent properties from being subdivided, or otherwise having ownership divided, within the first 15 years of accessing the concession.<\/li>\n<\/ul>\n\n\n\n<p>Removing the program\u2019s end date gives confidence to developers who are making long term investment decisions, now. The changes mean developers can offer longer-term lease options, better security for tenants and more housing choices for people at different life stages.<\/p>\n\n\n\n<p>The Minns Labor Government is working to build more homes for more people across NSW, and that includes build-to-rent options approved or underway including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>60 new affordable build-to-rent homes under construction in Bombaderry and due for completion in 2026.<\/li>\n\n\n\n<li>Approved plans for 50 new build-to-rent apartments via Landcom in Lismore.<\/li>\n\n\n\n<li>Plans are being finalised for 220 new build-to-rent apartments for essential workers in Annandale.<\/li>\n<\/ul>\n\n\n\n<p>This bill also provides for exemptions or refunds for rates of stamp duty and land tax applied to foreign developers who qualify for the program.<\/p>\n\n\n\n<p>This is part of the Minns Government\u2019s plan to build a better NSW with more homes, parks and services, so young people, families and key local workers have somewhere to live and in the communities they choose.<\/p>\n\n\n\n<p><strong>Treasurer Daniel Mookhey said:<\/strong><\/p>\n\n\n\n<p>\u201cExtending the tax cuts for build-to-rent developers gives industry the certainty to invest now.<\/p>\n\n\n\n<p>\u201cThat confidence means we can unlock a steady pipeline of build-to-rent developments to build high-quality rental homes across NSW.\u201d<\/p>\n\n\n\n<p><strong>Minister for Planning and Public Spaces Paul Scully said:<\/strong><\/p>\n\n\n\n<p>\u201cIn addition to the nine build-to-rent projects in the planning system, Landcom is undertaking build-to-rent projects in Bombaderry, Lismore and Annandale \u2013 and this legislation will help unlock many more across the state.<\/p>\n\n\n\n<p>\u201cThis change removes unnecessary red tape and gives developers the confidence to commit to projects that will deliver homes for decades to come.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Minns Labor Government has today introduced a bill to Parliament extending tax cuts to boost new build-to-rent homes. The legislation means that owners of an eligible new build-to-rent development will be able to access a land tax concession indefinitely, rather than the previous end date of 2039 which was set by the former government. &hellip; <a href=\"http:\/\/www.16news.com.au\/index.php\/2025\/09\/10\/boosting-new-homes-for-renters\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Boosting new homes for renters&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-34798","post","type-post","status-publish","format-standard","hentry","category-nswnews"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/34798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=34798"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/34798\/revisions"}],"predecessor-version":[{"id":34799,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/34798\/revisions\/34799"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=34798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=34798"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=34798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}