A strong building industry is a crucial element of a strong economy. We create jobs, train apprentices, drive wider economic growth and build better communities.

Australia needs a strong building industry as we continue the transition from the resources boom. But this will only be possible if we to get the basic economic settings right.

Addressing Australia’s structural budget deficit and adjusting economic policy settings to create a business-friendly economic environment will help restore confidence to investors and consumers.

We need a tax system that is simple, efficient, fair and competitive, to build the industry and strengthen our national economy. The problem isn't simply paying too many taxes which need to come down: it's the compliance burdens associated with these tax payments creating a ‘double whammy’ for businesses in the building industry.

This heavy tax burden adds to the costs of training apprentices, building homes, schools, hospitals and other vital community infrastructure, as well as reducing the availability of affordable housing.

Numerous inquiries have shown that Australia’s tax system is fundamentally flawed, the tax rate is globally uncompetitive, inefficient, overly complex and burdened with compliance obligations. This distorts investment decisions, discourages entrepreneurship and innovation, and reduces business investment and jobs growth.

More investment is needed in houses, offices, sporting facilities and vital community infrastructure such as schools, hospitals, roads, rail and ports. The next Federal Government must examine how we can generate more investment in vital community infrastructure. Greater investment will create job opportunities, stimulate the economy and help build more liveable communities.

Our nation must become more productive and this means unleashing our performance which is held back by barriers in key policy areas, like tax, industrial relations and other similar regulation. Addressing our economic challenges is the key to a strong building industry, a strong economy and a more prosperous Australia.

Master Builders will continue the fight for a more business-friendly environment and a stronger economy at the 2016 Federal Election.

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Master Builders policy priorities for economic settings for stability and growth:

A Clear Pathway to Budget Surplus

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Reducing the company tax rate to 25 per cent

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Income Tax Cuts

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Reducing the Capital Gains Tax Burden

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Stamp Duty

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GST On Housing

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Eliminating unnecessary Business Regulations

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Improving Access to Affordable Housing

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Boosting Construction Activity to Improve Economic & Community Wellbeing

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A Skilled Future Workforce

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Tackling the Housing Undersupply

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