All people have a right to secure and safe accommodations, and SAI Global are proud to support Homes for Homes, the new social enterprise set up by The Big Issue to help address homelessness in Australia.
How It Works
Australia's chronic shortage of social and affordable homes is one of our most pressing social issues and affects hundreds of thousands of people. The biggest impediment to addressing the shortage is a lack of suitable funding for affordable housing. Homes for Homes, a social enterprise set up by The Big Issue, is a new, sustainable source of funding that will increase the social and affordable housing supply.
Funds are raised by property sellers opting to make a 0.1% donation of their total property price at the time of settlement. A Homes for Homes property is noted on the property title via a permissive caveat lodged by Homes for Homes.
- Vendors of registered properties make a tax-deductible donation of 0.1% of a property sale price at the time of sale (e.g. $500 donation on a $500,000 property sale).
- Funds raised in each state or territory are invested pro-rata in that state or territory by Homes for Homes. They do this by inviting registered organisations to submit funding applications for housing projects when sufficient funds have been raised.
- Homes for Homes increases the supply of social and affordable dwellings, creates generational change and strengthening communities.
"SAI Global are committed to helping reduce the shortage of social and affordable homes in Australia. By partnering with The Big Issue and Homes for Homes we are able to facilitate donations, educate the industry and inform the wider audience about this issue to help reduce the shortage."
SAI Global Property & Standards CEO
How You Can Help
Homes for Homes already has the support of the property and finance sectors, including Australia's major banks. Conveyancers can be part of the Homes for Homes community during settlement by leaving the Homes for Homes legal mechanism on the property title and continue with the settlement process. The legal mechanism doesn't impact who has rights over the property and ranks below all other claims to the title - its only purpose is to facilitate a voluntary, tax-deductible donation to Homes for Homes when the property is sold.
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