A Brisbane-based family business has a novel suggestion to increase housing stock through the implementation of a new tax deduction.
Property Clearance cofounder and director Bob Morton said many homes were taking months to enter the market following a death, or an owner’s transition into aged care or retirement living.
Mr Morton said a tax deduction for families engaging professional clearance services when selling a home would more quickly bring stock onto the market.
He said professional clearance services ensured homes were prepared for sale in weeks rather than months, with every item catalogued, valued and managed responsibly.
“We know there are thousands of homes sitting idle because families are paralysed by the enormity of the task of sorting through decades of possessions, dealing with repairs and maintenance and preparing the property for sale.
“The process can take months, delaying the return of valuable homes to the market.
“A tax deduction could unlock those homes faster and in better condition, making them available to the next generation of Australian families.”
Mr Morton said he had reached out to the Prime Minister’s office to seek a meeting and put forward the idea, but has not yet had a response.
“Solving the housing crisis isn’t going to take one policy approach, it will take many and a tax deduction to incentivise families to clear, prepare and put their family home on the market for another family to buy is a great idea.
“Naturally the tax deduction would only come into play if the property is sold. If the family decides to keep the property or rent it, the deduction doesn’t apply. So, the incentive is to get it ready for sale as quickly as possible.”
