Note: This recording was produced before Queensland’s Land Tax was scrapped.

Folks — full disclosure — today’s episode was NOT originally in the plan.

It is, however, an issue that is so insanely important that we switched things up…

Today you won’t be listening to Bryce & Ben of The Property Couch.

Today you’ll be listening to Bryce interviewing Ben Kingsley as the Chair of the Property Investment Professionals of Australia (PICA) on Australia’s greatest renter’s tax ever introduced.

We’re talking about Queensland’s New Land Tax.  

Here’s the deal…we’ll be examining what this means for renters and property owners across Australia, the repercussions yet to come and covering what is at stake for Queensland’s future.   

As Ben says, “there are no winners here.”   

At the heart of today’s show is the issue of government intervention and the rising rents left in its wake…   

We’re breaking down who the Australian Prudential Regulation Authority (APRA) are and taking a frank look at the unintended consequences that many of its reforms have had over the past decade. 

 

Strap in folks, this is an important episode that affects us all.   

 

P.S. And if you find this as disturbing as we do, you can make a positive change.  

The Property Investment Professionals of Australia (PIPA) is currently running its 2022 Sentiment Survey which allows everyday folks to have their thoughts heard on issues such as Queensland’s Land Tax.  

By having this data, organisations such as PIPA have the numbers to fight against tax reforms for the everyday mum and dad investors. Click here to fill out the survey now.  

 

Free Stuff Mentioned… 

• Complete PIPA’s 2022 Sentiment Survey: Let us know your experiences and have your voice heard on issues such as QLD’s Land Tax. This is perhaps the most important Sentiment Survey ever done – Click here to complete the survey now.    
• Read APRA’s reforms here:
  • 2017 – A limit on interest-only loans.
  • 2019 – ADIs setting their own minimum interest rate for serviceability assessments.
  • 2021 – Re-assessing new borrowers’ ability to meet their loan repayments  
• Check out this graph which reflects one of the unintended consequences caused by APRA reforms. (Mentioned at 23:10)  
• Read this 2022 economic study by the Real Estate Institute of Western Australia (REIWA) on legislation and its market impacts here.  
• Read more details about Queensland’s Land Tax on its official Government website. 
• Read this article by Real Estate Business about the Real Estate Institute of the Australian Capital Territory (REIACT) slamming minimum standards for rental properties here.  
• Listen to REIACT CEO Michelle Tynan on the ABC Canberra Radio discussing the Better Renting survey of 74 properties across Australia here.  
• Listen to our other episodes on Government Intervention across Australia…
  • Episode 73 | Building a property portfolio in a tough market – Chat with Damian Collins 
  • Episode 189 | Q & A – Vic Residential Tenancy Changes and “Legoland” in a Good Location 
  • Episode 260 | Q&A: Picking The Right Investment Strategy and Beware: Proposed Changes to QLD Residential Tenancy Act 
  • Episode 382 | “Property Investors are Tired of Being the ATMs for the State!” – Chat with Antonia Mercorella 

 

Want to work with Bryce & Ben’s Award-Winning Team? 

• a roadmap to $2k per week passive income? >> Start a conversation with our Qualified Property Investment Advisors…  
• buying an investment-grade property in an investment-grade suburb? >> Start a conversation with our independent and experienced Buyers Agents… 
• your borrowing strategy? >> Start a conversation with our Investment Savvy Mortgage Brokers… 
• your defence implementation? >> Start a conversation with our Financial Planners… 
• maximising your tax refund? >> Start a conversation with our Investment Savvy Tax Accountants… 

 

Here’s some of the gold we cover… 

• 0:00 – What’s in store today?  
• 3:33 – Time is running out! Have your say in PIPA’s 2022 Sentiment Survey now.  
• 5:02 – It’s more important to START folks  
• 7:33 – Who is PIPA?  
• 8:20 – The media’s depiction of Property Investors: Is there any merit?  
• 11:55 – Who are the 3 types of renters??  
• 17:04 – THIS is the largest group of renters in Australia… 
• 17:48 – Our 2 Key Observations (Beware the Struggling Tenant Story!)  
• 18:10 – Why Gov. Intervention = Rising Rents!!  
• 21:19 – APRA’s 2017, 2019 & 2021 reforms  
• 23:09 – And their unintended Consequences!  
• 25:12 – Folks, rents have just caught up with inflation… 
• 26:40 – This is a win for the big banks  
• 28:20 – The Rental Crisis: These have contributed to what we’re seeing today….   
• 30:47 – Tenancy Reforms: Where has it been introduced already?  
• 32:51 – Regulations affect the ___ properties the most!  
• 35:00 – Why Tenancy and Landlord Disputes aren’t what you think… 
• 37:30 – REIWA’s 2022 Report: What are these regulations really costing? 
• 40:09 – Ben’s big message to tenants and renters  
• 41:05 – THIS is what happens if investors hold or fold…  
• 41:39 – Meanwhile in the ACT: 11% of ACT’s rental stock gone in 6 months?!?  
• 44:10 – What most folks forget about property investors  
• 48:15 – In Summary…  
• 49:08 – Land Tax 101 
• 54:14 – What is Queensland’s Great Renter’s Tax?? 
• 57:46 – What does this mean for property owners and renters today?  
• 1:03:16 – We analysed 102 portfolios… 
• 1:05:45 – What is at risk for Queensland in the big picture?  
• 1:09:46 – Why this is EVERYONE’S problem (There are NO winners folks!!)
• 1:17:50 – What can you do to make a positive change?  

And… 

• 1:20:18 – Are you bringing global or local benefit?