Student accommodation operators need a degree in tax
2020 was a difficult year for operators of purpose-built student accommodation and 2021 is little better, with some seeking relief, such as land tax concessions.
A recent report by the Mitchell Institute highlights the importance of international students to the Australian economy, in particular the real estate sector.
There were 585,500 international students in Australia in 2019, up 167 per cent on 2006. Of these, 65 per cent rented their accommodation, spending $5.5 billion on property. A further $5.5 billion was also spent on retail and hospitality. Overall, international education is estimated to support 130,000 full-time equivalent jobs.
