Charter Hall CEO David Harrison Urges Urgent Property Tax Overhaul to Boost Competitiveness
Sydney — David Harrison, Group CEO and Managing Director of Charter Hall, has issued a strong call for comprehensive property tax reform, warning that Australia’s current taxation and planning frameworks risk undermining long-term economic growth and global competitiveness. As one of the country’s most influential voices in commercial real estate, Harrison’s comments reflect growing concern across the property sector about rising costs, regulatory complexity, and sluggish approvals.
Harrison highlighted that Australia remains an attractive destination for global capital due to its political stability, strong institutions, and steady population growth. However, he cautioned that excessive property-related taxes and inefficient planning systems are beginning to erode these advantages. According to Harrison, investors are increasingly sensitive to policy uncertainty, and even small changes in tax settings can significantly influence where capital is deployed.
At the centre of his argument is the need to modernise property taxation. Harrison pointed to stamp duties, land taxes, and layered state and local levies as examples of costs that distort investment decisions and slow development. He argued that these taxes often discourage long-term ownership and reinvestment, while adding pressure to already strained housing and commercial supply. In his view, reforming these systems would not only stimulate development but also improve productivity across the broader economy.
Planning delays were another major concern raised by the Charter Hall CEO. Harrison said lengthy approval timelines increase project risk, raise costs, and ultimately limit the supply of new housing, offices, logistics facilities, and retail infrastructure. He stressed that faster, more predictable planning processes are essential if Australia is to meet the demands of population growth and urban expansion. Streamlined approvals, he noted, would help unlock investment and accelerate the delivery of critical infrastructure.
Beyond taxation and planning, Harrison also spoke about the role of urban centres and workplaces in driving productivity. While acknowledging the shift toward flexible and hybrid work, he emphasised that physical offices remain vital for collaboration, training, and innovation. Strong central business districts, he said, are closely linked to economic vitality, supporting small businesses, professional services, and employment growth.
Despite the challenges, Harrison maintained a measured optimism about the outlook for Australia’s property market. He noted that investor interest remains solid and that long-term fundamentals continue to support demand for high-quality commercial assets. However, he warned that without meaningful policy reform, Australia could fall behind other global markets that are actively improving their regulatory and tax environments to attract capital.
Harrison’s remarks align with a broader industry push for governments to engage more closely with business leaders when designing economic policy. He argued that balanced reforms — those that support public revenue needs while encouraging private investment — are critical to sustaining growth. According to Harrison, property tax reform should be viewed not as a concession to industry, but as a strategic lever to boost productivity, housing supply, and national competitiveness.
As Australia enters 2026, debates around taxation, planning efficiency, and productivity are expected to intensify. With leaders like David Harrison calling for urgent action, pressure is mounting on policymakers to reassess existing frameworks and deliver reforms that can support long-term economic resilience and investor confidence.
