Tax deal sees Tasmania’s federal housing debt wiped
Tasmania will be capable to provide up to 80 extra public housing units a year under a long-promised deal with the Morrison government to wipe its $157m federal housing debt.
The trade, promised in July in return for independent Senator Jacqui Lambie’s support for the Coalition’s tax cuts, includes a requirement the funds freed up are spent on entirely on public and low-cost housing.
The debt forgiveness, which will preserve the island state $230.2 million in total interest and principal repayments until 2041-42, acknowledged Tasmania’s unique housing problem, caused by rising property values and a swift loss of rental properties to short-stay tourism rentals.
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