It's time to reform negative gearing and capital gains tax to unlock affordable housing!
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Negative gearing and the tax break for capital gains cost the federal budget more than $7 billion every year.
People who negatively gear claim an average loss of $8,722 per year. This means other tax payers have to pay more, and services are reduced.
These tax breaks also drive house price inflation, pushing house prices and rents out of reach of ordinary people.
Today, an average home costs over six times the median household annual income, more than double the ratio thirty years ago when the same house cost only three years of household income.
The Australian dream of home ownership is now out of reach for many. Home ownership among young people is at record lows.
It's time for change. We need to end the tax breaks for investors that are putting their interests ahead of people needing a home.
This would improve affordability and save millions; savings that should be invested in increased investment in public and community housing, and a tax rebate for new affordable housing.
Will you join us? Sign this petition to tell party leaders we want to put ordinary people ahead of the interests of investors.
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