Builders bring productivity and tax concerns to Canberra
The HIA has taken housing productivity and discretionary trust tax concerns to Canberra policymakers. They warn proposed trust tax changes could hamper home building efforts.
How will proposed discretionary trust tax changes affect my building business?
Builders and contractors operating through discretionary trusts face potential tax changes that could affect business structure and profitability, hitting small building firms hardest.
Key takeaways
- HIA is lobbying Canberra to address barriers holding back housing productivity.
- Proposed tax changes to discretionary trusts could make it harder to build more homes.
- Many small building businesses operate through discretionary trusts, making this a direct concern.
- No specific policy outcomes or timelines were announced from the HIA's engagement.
Related
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Why it matters: Builders and other trade businesses with outstanding tax debts may face firmer ATO collection action, which could strain cash flow. Details are not in the source text, so check the ATO or Master Builders directly.
Construction needs an effective enforcer not a paperwork obsession
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Why it matters: Home builders and small residential contractors could face extra compliance paperwork and procurement requirements, adding admin time and cost to jobs without necessarily lifting building quality.
Potential Commonwealth Standards for the Construction Industry
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Why it matters: Commonwealth standards could add new compliance requirements for builders and subcontractors across residential construction. The article gives no detail yet, so the practical impact on trades is unclear.