With property investor tax breaks costing billions every year, making housing more expensive and hindering productivity, Everybody’s Home is urging the government’s economic reform roundtable to make housing tax reform a top priority.
The national housing campaign’s submission to the roundtable, closing today, highlights the urgent need to reform negative gearing and the capital gains tax discount to boost productivity and repair the federal budget.
Investor tax concessions are expected to cost the budget more than $180 billion over the next decade while disproportionately benefiting high-income earners and driving up housing prices.
Everybody’s Home urges the roundtable to consider:
- Abolishing negative gearing and phasing out the capital gains tax discount
- Funding a sustained pipeline of public and community housing.
It comes amid growing calls from politicians, economists, and think tanks for the government to reform the capital gains tax discount on housing.
Everybody’s Home spokesperson Maiy Azizie said: “It doesn’t make sense that we are losing billions of dollars every year through tax concessions that most benefit high-income earners, while everybody else is being pushed out of the housing market. Tax breaks for investors are widening the wealth inequality gap and pushing up the cost of housing for everybody else.










