Australia’s leading builder, ABN Group Managing Director Dale Alcock, has called for the foreign buyer surcharge tax to be scrapped before it is implemented next year.
The introduction of the tax would only be detrimental to the WA economy, Mr Alcock says.
“Western Australia needs a recovery and we should not in any way put up barriers which may dissuade investment in property in our state.”
The foreign owner duty surcharge would act as a disincentive for foreign investment in the property market and cause upward pressure on rental prices, he said.
“The WA Government should focus on policies that stimulate growth in the property market and create more opportunities for jobs and training,” Mr Alcock said.
As Australia’s largest trainer of apprentices in the building industry, Mr Alcock said the ABN Group was focused on maintaining work to keep WA’s next generation employed.
“We have the largest building apprenticeship program in Australia and with that comes the responsibility to keep our young people trained and employed in the industry.
“Put simply, WA needs highly skilled building and construction tradespeople and we need to keep training the next generation.”