Housing for all Australians

09/04/2024

The Parliamentary Budget Office did an estimate (completion date 6 June 2023) of the revenue forgone from property tax deductions and the Capital Gains Tax discounts estimated for 2023-2024 financial year.

When you compare this with the Federal Budget 2023-24 figures you can see how much these housing tax concessions are sucking from the public purse. When you add in the amount of monies the federal government has allocated to the Housing Australia Future Fund to correct the flawed housing tax policy the amount of gifts to housing investors and speculators looks even worse. Of course there has to be an increase on the health and welfare spend eventually to make up for all those people who cannot find affordable housing to buy or rent. But no one is talking about this to the extent required. For the comparative analysis I have only included some estimates from the 2023-24 federal budget.

16/03/2024

I am a retiree, Mr J Thompson, who is concerned about the extremely high cost of housing in Australia. I believe there has to be taxation reform to remove and/or substantially reduce the subsidies provided to property investors/speculators in the form of capital gains tax concessions and tax write-off of interest and other costs. Other areas affecting the current housing crisis include the presence of home short-term rentals and also high rates of immigration into Australia. I am endeavouring to obtain 1500 members so that a political party can be formed to contest the 2025 federal election with a platform to remove these tax concessions and to put the money into public housing.

IT COSTS NOTHING TO JOIN and a website has been created where you can provide your details and join up.

membership page for "Housing for all Australians"