18 Budget for housing and homelessness The Australian Housing and Urban Research Institute has compiled a list of new measures for housing and homelessness featured jimmy choo blue pumps in the 2017 Federal Budget, outlined below.
National Housing and Homelessness Agreement (NHHA) The NHHA will replace the National Affordable Housing Agreement (NAHA) from 1 July 2018 and will combine funding currently allocated under the National Affordable Housing Specific Purpose Payment (NAHSPP) and the National Partnership Agreement on Homelessness (NPAH). The NHHA will target jurisdiction specific priorities including supply targets, planning and zoning reforms and renewal of public housing stock while also supporting the delivery of frontline homelessness services. Funding for both the housing and homelessness sectors will be ongoing and indexed. National Housing Finance and Investment Corporation (NHFIC) The National Housing Finance and Investment Corporation (NHFIC) is being established as an affordable housing bond aggregator to raise money at jimmy choo glitter pumps lower rates from the wholesale bond market for not for profit community housing providers. The Government will provide $63.1 million over four years from 2017 18 (including $4.8 million in capital) to establish and run the NHFIC, which is due to commence operations on 1 July 2018. National Housing Infrastructure Facility (NHIF) The National Housing Infrastructure Facility (NHIF) will, over 5 years, provide $1 billion to support local governments to finance critical infrastructure such as transport links, site remediation works and power and water infrastructure needed to speed up the supply of new housing. Payments of $600 million in concessional loans, $225 million in equity investments and $175 million in grants will be made to local governments through state and territory governments. Super saver plan A first home super saver scheme will allow voluntary superannuation contributions of $15000 per annum and cumulative maximum of $30000 in total (per person if in a couple) for first home buyers. These savings can be withdrawn and used for a deposit, and will be taxed at 30 percentage points below the normal marginal rate. Both members of a couple can jimmy choo choo take advantage of this measure to buy their first home together. From 1 July 2018 individuals aged 65 and older will be able to contribute up to $300000 of the proceeds from the sale of a principal residence that they held for at least 10 years into their superannuation and thus take advantage of the tax incentives. Both members of a couple will be able to take advantage of this measure for the same home, and they will be exempt from the existing age test, work test and the $1.6 million balance test for making non concessional contributions. Managed Investment Trusts to build affordable housing The Government will encourage investment into affordable housing by enabling Managed Investment Trusts (MITs) to invest in affordable housing. The housing must be available for rent to low to moderate income tenants for at least 10 years, with rent charged at a discount below the private rental market rate. Expanded tax incentives for affordable housing investments The Government will increase the capital gains tax discount from 50 per cent to 60 per cent to resident individuals who invest in qualifying affordable housing. To qualify for the higher discount, affordable housing must be provided to low to moderate income tenants; rent charged at a discount below the private rental market rate; be managed through a registered community housing provider; and the investment held for a minimum period of three years. The higher discount would flow through to resident individuals investing in qualifying affordable housing Managed Investment Trusts. Rental property deduction changes From 1 July 2017, the Government will not allow deductions for travel expenses related to inspecting, maintaining or collecting rent for a residential rental property. Investors can engage third parties such as real estate agents or property management services to do these tasks for them and jimmy choo sale online deduct those expenses. mechanical fixtures or those which can be easily removed from a property such as dishwashers and ceiling fans) depreciation deductions to outlays actually incurred by investors in residential real estate properties. Investors who purchase plant and equipment for their residential investment property after 9 May 2017 will be able to claim a deduction over the effective life of the asset. The Government will deny foreign and temporary tax residents access to the capital gains tax (CGT) main residence exemption however existing properties will be grandfathered until 30 June 2019. The Government will increase the CGT withholding rate for foreign tax residents from 10 per cent to 12.
5 per cent and reduce the CGT withholding threshold for foreign tax residents from $2 million to $750000. Release of Government land The Government will establish an open data land registry to provide more detailed information about Commonwealth land to external parties, allowing and encouraging proposals for higher value land use, including housing development proposals. The Government is also releasing 127 hectares of surplus Defence land in Maribyrnong, which is less than 10 kilometres from the Melbourne CBD and could support up to 6000 new residential dwellings.
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