‘Half the mortgage life paying off taxes’: Red tape, taxes, eating up the cost of new homes

Half the cost of building a home in Sydney is taxes and red tape, new analysis shows.

Research by the Australian Centre for International Economics shows 49 per cent of the money for a house and land package in a Sydney suburban development goes toward regulatory costs, infrastructure charges and tax.

The analysis – commissioned by the Housing Industry Association – concludes it has been more expensive to build a family home.

Know More: https://www.news.com.au/finance/money/tax/half-the-mortgage-life-paying-off-taxes-red-tape-taxes-eating-up-the-cost-of-new-homes/news-story/49d90befbf67ffae961a3ab3ed831040