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Reality TV, rising interest rates, naughty agents, and much more, here are the REB stories that piqued your interest most across 2022.
August brought about a highly contentious legislation proposition from the Queensland government. Under its updated land tax program, the Palaszczuk government intended to charge land tax based on the value of Australia-wide land holdings, rather than just the value of land in the Sunshine State.
What followed was months of furore and backlash towards the government’s decision, specifically from the Real Estate Institute of Queensland chief executive officer Antonia Mercorella who labelled it a “rare beast”.
Find out more about the controversial land tax, here.
In one of the biggest appointment stories of the year, the major network opted to promote from within to fill the position as the organisation prepares to enter its “next phase of growth as it approaches its 2028 century of pioneering real estate in Australia and New Zealand”.
Liberal and Labor fought for election victory in May, with Anthony Albanese assuming office from outgoing prime minister Scott Morrison.
Australia’s current prime minister pledged a number of schemes to assist and address housing affordability following two years of astronomical price rises during the pandemic. In the seven months since earning election, the Labor Party have announced a range of projects to assist first home buyers and regional home buyers and support housing supply
Ahead of tax time, the ATO sent a reminder of where its line of inquiry would be centred regarding real estate finances, with ATO assistant commissioner Tim Loh explaining three “golden rules” that would help landlords avoid any ATO run-ins.
REB’s most-read story for the year revolved around the Foreign Investment Review Board’s (FIRB) crackdown on unauthorised foreign investment, with the crackdown related to six breaches of the Foreign Acquisitions and Takeover Act 1975.
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