Homes for homes in Queensland
On 27 October 2022, the Minister for Communities and Housing, Minister for Digital Economy and Minister for Arts introduced the Housing Legislation Amendment Bill 2022 (the Bill) into the Queensland Parliament.
The Bill amends:
- the Housing Act 2003 (Housing Act) and Housing Regulation 2015 (Housing Regulation) for the purpose of facilitating the Homes for Homes initiative in Queensland; and
- the Retirement Villages Act 1999 (RV Act) to improve transparency and accountability for retirement village funds, particularly in relation to financial reporting.
The REIQ provided a Submission to the Community Support and Services Committee on 17 November 2022 in relation to the Housing Act and Housing Regulation amendments only. In our Submission we commended the Queensland Government for taking prompt steps to action alternative solutions in an effort to ease supply issues plaguing the current housing market in Queensland.
The Homes for Homes initiative created by the social enterprise, The Big Issue, is operated throughout Australia with a purpose of alleviating homelessness by boosting the supply and affordability of housing.
This initiative raises voluntary donations from property sale transactions which enables it to provide funding to supported housing providers and invest in social and affordable housing projects throughout Australia. Homes for Homes states that they have granted over $1.28 million in funding to thirteen projects across Victoria, Northern Territory, Queensland and the Australian Capital Territory1.
In other States, when a landowner participates in the initiative, they enter into the voluntary donation deed and a permissive caveat is registered on their property, so that they are reminded at the time of sale to make the voluntary and tax-deductible donation of 0.1% of the purchase price from sale proceeds. The caveat can be kept on title for future landowners to participate or removed by the new owner.
The Bill proposes to amend the Housing Act and Housing Regulation to create a new type of administrative advice that can be registered on title of a property owned by a party participating in the initiative, that has entered a voluntary donation deed.
As acknowledged in the Explanatory Notes to the Bill, the laws in Queensland do not allow a caveat to be registered under such circumstances and the administrative advice is an alternative that will serve the same purpose.
The REIQ reviewed the characteristics of the proposed administrative advice set out in the Bill and is supportive of its enactment. The administrative advice will place nominal burden on a property owner participating in the initiative, or subsequent owner of the title.
The REIQ also suggested further consultation should be taken from the legal profession as to any unforeseen consequences of introducing a new type of administrative advice.
We expect that the proposed amendments will support the Homes for Homes initiative operating in Queensland and will assist in achieving the Queensland Government’s objective in accordance with its Housing Strategy.
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