The tax incentives in the Treasury Laws Amendment (Responsible Buy Now Pay Later and Other Measures) Bill 2024 and Capital Works (Build to Rent Misuse Tax) Bill 2024 apply to Build to Rent (BTR) projects of 50 or more apartments or dwellings, made available for rent to the public. 
The federal legislation increases the capital works tax deduction depreciation rate for eligible new BTR developments from 2.5% to 4% per year
The homes must be retained under single ownership for at least 15 years and a minimum 10% of dwellings in a development need to be made available as affordable tenancies. All tenancies must be offered for a minimum of five years
Property Council Chief Executive Mike Zorbas (pictured) said EY modelling shows the amended legislation can deliver 80,000 new rental homes over the next10 years, which will give people more opportunities to achieve their savings goals, including owning a home, because of the superior rental security.
“Of these, 8,000 are affordable homes and 1,200 would become available to rent in the near future,” Mike said.
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