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issues. ","text",[444],{"type":445,"attrs":446},"textStyle",{"color":19},{"type":438,"content":448},[449],{"text":450,"type":442,"marks":451}," ",[452],{"type":445,"attrs":453},{"color":19},{"type":438,"content":455},[456],{"text":457,"type":442,"marks":458},"Reflecting important feedback from REIV members, the submission makes five specific tax and regulatory policy recommendations designed to attract and retain property sector investment, ensure a more sustainable rental market and uplift professional standards within the sector’s workforce.    ",[459],{"type":445,"attrs":460},{"color":19},{"type":438,"content":462},[463],{"text":450,"type":442,"marks":464},[465],{"type":445,"attrs":466},{"color":19},{"type":438,"content":468},[469],{"text":470,"type":442,"marks":471},"In reiterating long-held advocacy positions, the REIV highlights easing stamp duty and land tax obligations on rental providers as a top priority.  ",[472],{"type":445,"attrs":473},{"color":19},{"type":438,"content":475},[476],{"text":450,"type":442,"marks":477},[478],{"type":445,"attrs":479},{"color":19},{"type":438,"content":481},[482],{"text":483,"type":442,"marks":484},"A particular focus of the submission’s proposed reforms, amid rising investor withdrawals and a growing shift to short-stay rentals, is enhancing the state’s long-term rental market. This includes recommending progressive land tax concessions, and the redistribution of property management responsibilities between renters and rental providers, as a means of encouraging extended long-term (over five-year) leases, which provide greater tenure security and are prevalent in international rental markets. ",[485],{"type":445,"attrs":486},{"color":19},{"type":438,"content":488},[489],{"text":450,"type":442,"marks":490},[491],{"type":445,"attrs":492},{"color":19},{"type":438,"content":494},[495,500,507],{"text":496,"type":442,"marks":497},"Kelly Ryan, REIV CEO, said that the state budget represents an ideal opportunity for the Victorian Government to correct property sector tax settings to better enable the government to realise its ",[498],{"type":445,"attrs":499},{"color":19},{"text":501,"type":442,"marks":502},"Victoria’s Housing Statement",[503,505],{"type":504},"italic",{"type":445,"attrs":506},{"color":19},{"text":508,"type":442,"marks":509}," objective of building 800,000 new homes by 2034. ",[510],{"type":445,"attrs":511},{"color":19},{"type":438,"content":513},[514],{"text":450,"type":442,"marks":515},[516],{"type":445,"attrs":517},{"color":19},{"type":438,"content":519},[520],{"text":521,"type":442,"marks":522},"“If the Victorian Government is to succeed in fulfilling its critical mandate of improving the state’s housing supply, better enabling property sector investment is paramount. Key to that, and at the heart of our submission, is the need to ensure a more balanced tax and regulatory regime that includes adequate incentives for rental providers,” Ms Ryan said. ",[523],{"type":445,"attrs":524},{"color":19},{"type":438,"content":526},[527],{"text":450,"type":442,"marks":528},[529],{"type":445,"attrs":530},{"color":19},{"type":438,"content":532},[533],{"text":534,"type":442,"marks":535},"“A growing issue our members are seeing play out across the sector is rising costs and complex regulatory obligations causing rental providers to withdraw their properties from the long-term rental market. This development, which is serving to reduce supply and drive-up rental costs, is reflected in a 3.55 per cent (or 24,000) decline in the number of rental bonds held by the Residential Tenancies Bond Authority between the March and September 2024 quarters.    ",[536],{"type":445,"attrs":537},{"color":19},{"type":438,"content":539},[540],{"text":450,"type":442,"marks":541},[542],{"type":445,"attrs":543},{"color":19},{"type":438,"content":545},[546],{"text":547,"type":442,"marks":548},"“In drawing on comparable international rental market settings, our submission recommends incentivising extended long-term leases to enable renters and rental providers alike to benefit from the greater security they offer.” ",[549],{"type":445,"attrs":550},{"color":19},{"type":438,"content":552},[553],{"text":554,"type":442,"marks":555},"   ",[556],{"type":445,"attrs":557},{"color":19},{"type":438,"content":559},[560],{"text":561,"type":442,"marks":562},"The REIV will continue to engage constructively with the Victorian Government in advocating, on behalf of the organisation’s members, for property sector measures that serve to encourage residential real estate investment – much of which is provided by everyday Victorians.  ",[563],{"type":445,"attrs":564},{"color":19},{"type":438,"content":566},[567],{"text":450,"type":442,"marks":568},[569],{"type":445,"attrs":570},{"color":19},{"type":438,"content":572},[573],{"text":574,"type":442,"marks":575},"Read the full 2025-26 Victorian State Budget submission. ",[576,581],{"type":577,"attrs":578},"link",{"href":579,"uuid":365,"anchor":365,"target":580,"linktype":359},"https:\u002F\u002Fa.storyblok.com\u002Ff\u002F224482\u002Fx\u002Fd9e2738dbc\u002Freiv_state-budget-submission-2025-2026.pdf","_self",{"type":445,"attrs":582},{"color":19},"TextContent","small",{"id":365,"alt":365,"name":19,"focus":365,"title":365,"source":365,"filename":19,"copyright":365,"fieldtype":359,"meta_data":586},{},"NewsDetail",[],"reiv-renews-calls-for-property-tax-reform-to-boost-housing-supply-ahead-of-2025-26-victorian-state-budget","our-industry\u002Fnews\u002Freiv-renews-calls-for-property-tax-reform-to-boost-housing-supply-ahead-of-2025-26-victorian-state-budget",-7280,376271414,"7945f899-9d3d-4e58-9ef9-24ad4816ad1c",[],[],[]]