UDIA Victoria Media Release
The Urban Development Institute of Australia, Victorian Division (UDIA Victoria) commends the Andrews Government on today’s announcement which includes tax exemptions and freezing a host of fees and fines that are putting added pressure on households during the coronavirus crisis.
UDIA Victoria is now calling for the Government to gear a similar response in support of the development, building and construction sector.
“Our industry is staring down the barrel of some very testing policy changes and increased development costs. Ramping up the cost of doing business will shatter industry confidence and prompt large-scale job losses across a sector that is one of Victoria’s top five employers,” said UDIA Victoria chief executive Danni Hunter.
“Government must pause policy changes, taxes and charges on the development, building and construction sector. The cost of going ahead with new and increased development charges at this time, will be far higher than any revenue these changes would bring in for the State Government,” she said.
The industry contributes almost half of the state Government’s tax base, employs almost 300,000 Victorians and is a major contributor to the Victorian economy.
In a letter to Planning Minister Richard Wynne, UDIA Victoria asks for a moratorium on proposed new or amended fees, levies and taxes, or planning scheme amendments that will increase the cost of residential development. The peak industry body has stated the moratorium should be in place until 30 June 2021.
“Market uncertainty is leading to projects being shelved, paused and disbanded. The Government’s support to freeze development cost increases will provide the industry with some certainty, at least for a few years, on costs,” said Ms Hunter.
“It is critical for industry to work closely with State and Local Governments to ensure the residential development sector is well placed to contribute to the Victorian economy when the situation normalises and work ramps up again,” she said.
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Engagement and Communications Manager, UDIA Victoria
T: 03 9832 9600
M: 0478 415 105