Capital Works (Build to Rent Misuse Tax) Act 2024

No. 112, 2024

An Act to impose tax on certain build to rent developments, and for related purposes

Commonwealth Coat of Arms of Australia

Capital Works (Build to Rent Misuse Tax) Act 2024

No. 112, 2024

An Act to impose tax on certain build to rent developments, and for related purposes

[Assented to 10 December 2024]

The Parliament of Australia enacts:

1 Short title

This Act is the Capital Works (Build to Rent Misuse Tax) Act 2024.

2 Commencement

(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1	Column 2	Column 3
Provisions	Commencement	Date/Details
1. The whole of this Act	The first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent.	1 January 2025

Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3 Definitions

In this Act:

build to rent misuse amount has the same meaning as in the Income Tax Assessment Act 1997.

income year has the same meaning as in the Income Tax Assessment Act 1997.

4 Imposition of tax

Tax payable under section 44‑15 of the Income Tax Assessment Act 1997 is imposed.

5 Amount of tax

The amount of tax is 1.5% of the build to rent misuse amount for the income year.