The Government needs to act on the recommendations of the Harper Review including that on intellectual property to address the concerns of small business about the market power of larger corporations.
In setting the fee level for Australia, REIA encourages the Government to consider the equivalent global rates and not discourage foreign investment that has been proven to increase the supply of new housing at a time of a severe shortage.
With the national shortfall of dwelling stock estimated at 100,000 and the potential for housing to provide an aid during the transition towards the postmining boom economy, any changes to the current arrangements would likely cause uncertainty.
In its pre-budget submission, REIA has urged the Government to abolish conveyance stamp duties and replace them withan efficient source of revenue for states and territories.
