Stephen Jones (Whitlam, Australian Labor Party, Assistant Treasurer) Share this | Link to this | Hansard source

I move:

That this bill be now read a second time.

The Capital Works (Build to Rent Misuse Tax) Bill 2024 imposes a tax rate of 1.5 per cent of the build-to-rent misuse amount for an income year. It is a key integrity feature of the build-to-rent scheme and is intended to neutralise tax benefits claimed where a build-to-rent development does not meet the minimum compliance period of 15 years.

Full details of the measure are contained in the explanatory memorandum.

Debate adjourned.