Bob Day (SA, Family First Party) Share this | Hansard source

My question is to the Minister for Finance, Senator Cormann. I refer to current debates about high house prices and, in particular, the push by some for more government intervention on home lending rules, negative gearing, capital gains tax, foreign investment in real estate et cetera. My home state of South Australia created the first state land management agency, the South Australian Land Commission, the primary aim of which was: 'The provision of land to those members of the community who do not have large financial resources.' Further, the act made clear that the Land Commission: 'shall not conduct its business with a view to making a profit.' Is the minister aware that state and territory land management agencies made almost $600 million in profit from land sales in the last reporting year and South Australia's land management agency profiteered more per capita than any other state in the Commonwealth?