ACOSS, Everybody’s Home, Better Renting and National Shelter are calling on the Federal Parliament to swiftly pass the vital housing tax reforms announced in the Budget.
These long overdue changes to negative gearing and the capital gains discount will make a real difference to improve fairness and level the playing field in our housing and tax systems.
Right now investors are buying twice as many properties as first-time buyers. These reforms will remove the unfair tax breaks that give investors a huge advantage over people who just want a home to live in. They will help reverse the stark decline in home ownership over the past 10 years.
The changes will also improve housing stability for renters by encouraging long term investment over short term gains.
The current housing investor tax concessions mainly benefit the wealthiest 10 per cent who own two thirds of the value of investment property. At a time when the community is under increasing pressure, we need to make sure reforms raise revenue fairly to end the social housing shortfall and invest in the essential supports we all rely on.
ACOSS Executive Director of Policy and Research Jacqueline Phillips said:


