- by cnn
- 06 Dec 2023
The New South Wales government is considering following Victoria's lead by imposing a tax on short-stay accommodation, including Airbnb, to help fund affordable housing.
The NSW premier, Chris Minns, and senior ministers said they were open to imposing a levy to boost revenue and encourage owners to put their properties back on the long-term market amid the ongoing housing crisis.
The treasurer, Daniel Mookhey, has ordered Treasury to study Victoria's 7.5% tax and examine the impact of similar measures overseas.
"We are looking at what Victoria has proposed," he said on Thursday.
"What is happening in Victoria is similar to what's happening in NSW, which is similar to what's happening in places like California, Spain, London as well. We are seeing long-term rentals being pulled from the market and short-term rentals taking their place."
Mookhey said short-term rentals were part of why "rental stock in NSW is disappearing".
The treasurer handed down NSW Labor's first budget in more than a decade on Tuesday and was widely criticised for failing to tackle the housing crisis. He later said there was "more to come".
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