Australia's Treasurer Scott Morrison speaks during a press conference after a meeting of the Council of Federal Financial Relations at Parliament House in Canberra, Friday, Dec. 2, 2016.
Australia's Treasurer Scott Morrison speaks during a press conference after a meeting of the Council of Federal Financial Relations at Parliament House in Canberra, Friday, Dec. 2, 2016. AAP Image - Lukas Coch

Morrison signs off on new affordable rental model

THE nation's treasurers have agreed to develop a new way to encourage investment in affordable rental and community housing, but the Commonwealth is still resisting calls to change tax concessions.

Federal Treasurer Scott Morrison signed off on the development of a new financing model at a meeting with his state and territory counterparts in Canberra.

It will be designed to group together financing requests to generate more investment at cheaper interest rates.

"One of the challenges that is faced by those developing affordable housing is access to longer-term, affordable finance," Mr Morrison said.

"The access to capital is a critical issue for that sector and this would involve the states and Commonwealth working together to act as a bond aggregator to put finance into those developments."

Read more at ABC News Online


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