This week Max Chandler-Mather wrote, on behalf of the Greens, to Treasurer Jim Chalmers urging him to take action to reform negative gearing and the capital gains tax discount in the upcoming federal budget.
For many, the dream of buying a home is completely out of reach due to the increase of the price of housing across the last 10 years.
This is a direct result of the implementation of the capital gains tax discount and negative gearing – which allows property investors to continue turbocharging the price of housing.
These tax handouts add up to $176 billion over the next ten years – into the pockets of property investors who use it to help outbid buyers at auctions – effectively locking a generation of renters and first-home buyers out of home ownership.
Something has got to change.
The Greens are the only party that want to phase out negative gearing and the capital gains tax discount, unlocking the possibility of homeownership for hundreds of thousands of Australians. We’re also calling for a rent freeze and a cap on rent increases so that renters can actually save for a house deposit while still being able to pay their rent – because you shouldn’t have to win a lottery to have a secure home.
Change is possible, and the first step is to vote for those who are fighting for it.