RBA decision another sign the Federal Parliament should reject the tax hikes on housing – Statement from Master Builders Australia CEO Denita Wawn
The RBA has held interest rates at 4.35%. Master Builders Australia is using the decision to renew calls for Federal Parliament to reject proposed tax hikes on housing.
4.35% - the interest rate held by the RBA, cited as evidence against introducing further tax hikes on housing.
The RBA decision is another sign that Federal Parliament should reject the tax hikes on housing - Denita Wawn, Master Builders Australia CEO
Should Federal Parliament reject housing tax hikes after the RBA held rates at 4.35%?
Builders and contractors face ongoing cost pressures. Tax hikes on housing could reduce new project starts, directly cutting work for builders, plumbers, and electricians.
Key takeaways
- The RBA held the cash rate at 4.35%, keeping borrowing costs elevated for builders and developers.
- Master Builders Australia argues the rate hold signals the economy can't absorb new housing tax hikes.
- Proposed tax increases on housing could reduce new project pipelines, affecting trade workloads.
- Industry is lobbying Federal Parliament to drop the tax measures before they are passed.
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