Wealthy foreign buyers will be gifted $50,000 of taxpayer money to purchase new homes in Australia.
Senator Pauline Hanson noted on Facebook last week that there are reports “Chinese buyers are being lured back to the Australian property market by generous government rebates of up to $50,000 on a new home, with calls to extend the incentive schemes past their expiry dates next year.”
The One Nation leader cited a news article that claimed: “Western Australia currently has the most generous incentives available to non-citizens, with a 75 per cent rebate on the foreign buyer duty for off-the-plan purchases, capped at $50,000.”
Senator Hanson went on to say: “In a time when so many Aussies are doing it tough and struggling to rent let alone buy a new home, it beggars belief that our state governments could be so quick to hand over your taxes to wealthy overseas buyers.”
Caldron Pool writer Rod Lampard called the incentive insane, saying: “It might boost rental availability, which is currently low, especially in the COVID economy, but it pushes up housing prices. That means people are stuck renting for longer.
Lampard went on to say governments are “selling out homeownership for Australians in favour of a quick fix for the rental market that will only benefit foreigners, greedy real estates, tycoon socialists, and the bureaucratic caste.
“I feel for those who come from where I came from. For many of them, government-housing will be a lifetime, not a temporary pause in order to step up.”