The proposed More than Mining policy reform seeks to equalise Fringe Benefits Tax concessions and enable all regional and remote Australian residents to access the same allowances as mining employers.
Currently, liveability of regional mining cities and towns disproportionately depends on mining companies providing disparate wages and company subsided/provided housing to attract and retain necessary workforces. This is an outcome of current concessions inequitably benefiting larger enterprise over SMEs and resident non-mining employees.
More than Mining will expand the existing 50% FBT exemption to 100% for individuals seeking housing in remote mining communities.
The increase in FBT concessions will make it easier financially for residents to live in mining towns and cities longer, slowing population churn and stabilising the demand for housing in the regions. This helps to normalise house prices and smooth out the boom-bust impacts on property values.