Treasurer's housing targets are pie in the sky
15 July 2025
There is an urgent need for tax reform if Labor wants to solve the housing crisis according to Greens housing spokesperson, Senator Barbara Pocock.
Treasury has kyboshed Labor's targets and Pocock says all they are doing is helping wealthy investors to corner the market with the 50% discount on capital gains tax and lucrative negative gearing arrangements.
As stated by Senator Barbara Pocock:
"Jim Chalmers said yesterday that Labor can deliver their promised 1.2 million new homes - well, someone needs to tell him he's dreaming.
"Without reform to the tax concessions for property investors this supply side solution will never solve the housing crisis. House prices will continue to rise, rents will continue to spiral and wealthy investors will acquire most of those new homes while first home buyers continue to miss out.
"We need more homes to be built, but we also need to make sure first home buyers and owner occupiers are actually able to purchase them.
"Currently, 70% of home lending is going to people who earn over $200,000 a year. To make home ownership accessible to those not on a top tier salary, we need to tackle the tax problem by limiting negative gearing and scrapping the capital gains tax discount.
"The tax changes proposed by the Greens, would allow 850,000 people to live in a home they own and bring many of the 31% of households who rent into home ownership."
Rent Assistance
"People struggling with high rents who are relying on Commonwealth Rent Assistance should be given immediate relief through an increased rate.
"This government must raise income support levels above the poverty line and work with the states and territories to control unlimited rent increases and make lasting improvements to renters rights. Nobody deserves to teeter on the knifepoint of housing instability."
