Page 3984 - Week 13 - Thursday, 17 October 1991

Next page . . . . Previous page . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .

---

varies significantly between properties and is dependent on many market factors. Similarly, the ability of tenants to absorb an increase in rent also varies but as indicated above there is capacity in renters generally to absorb the small cost likely to be passed on and in the case of low income renters the Commissioner for Housings rent relief scheme is available to assist.

e) The impact of the land tax on investments made by

involuntary landlords, such as members of the Department of

Foreign Affairs posted overseas.

The Act provides for absences from the principal place of residence by reason of:

.the death or illness of any person;

.some other compassionate ground;

.the owners employment or occupation; without the property losing its exempt status. Where the reason for the owners absence is related to employment or occupation an exemption is only available if the owner occupies the premises continuously for two years in any five year period.

Research has shown that the tax on "involuntary landlords" arising from employment or occupation related reasons would have little effect because such people receive generous allowances to assist with accommodation costs overseas, as well as receiving their normal income and income from renting their property while they are away. AM statistics show that in the 1988 Housing Survey, of the 15,500 private rental dwellings in the ACT 7,800 were owned by private households. Of the 7,800 private households;

- 85% reported a weekly household income of $700 or more,

and the remaining 15$ between $400 and $699;

- 34% were renting a dwelling themselves while they

rented out the dwelling they owned;

3984

---

Next page . . . . Previous page . . . . Contents . . . . Debates(HTML) . . . . PDF . . . .