Tax breaks for less than 10% of Australia’s population - the 2 million or so housing property investors - are likely to be $165 BILLION over the next decade as Australian housing continues to be among the most expensive in the world.
Yet our major party politicians are too SCARED to upset this minority and their powerful lobby groups even though tens of thousands of Australians are now homeless.
Why??
This is the question EVERY parent & grandparent should ask if they are concerned about the health and prosperity of future generations.
Why are the few being more than generously subsidised, using the homes that Australians live in as speculative investments to help reduce the taxes on their salaries and other income - while MANY poorer Australians pay the price of never being able to achieve the great Australian dream that attracted so many migrants to this country and that older generations right up until the late 1990s/early 2000s took for granted?
Discussion articles for those who are interested.
https://www.thenewdaily.com.au/finance/finance-news/2024/07/01/property-tax-negative-gearing-cgt
https://www.abc.net.au/news/2024-02-07/albanese-tax-changes-negative-gearing/103432962
Once public Housing was easily available for those who couldn't afford private rent and that helped to keep a lid on rent prices. But once State Governments sold older Public Housing stock cheaply - often to investors - and didn't use that money to replace it with newer homes that helped to decrease competition in our rental housing 'market' coupled also with the rapid increase in Australia's population (and the deliberate policy levers from 2013 onwards that kept wage rises for the general population to a minimum) benefiting large corporation's profits - has meant that in the past decade, our housing prices have escalated way beyond the reach of even those earning above average wages.
It seems the only way Australians can stop this trajectory is to REMIND our Politicians that AFFORDABLE housing - which was until the 1990s - see as a PRIORITY for ALL of us by BOTH sides of politics - PLANNING housing post WW2 for migrants needed for our country’s growth AND Australian workers - like that done by Sir Thomas Playford’s Government in South Australia - was what was EXPECTED by Australians of past Generations!
Things have now deteriorated to the extent that ONLY Australians now DEMANDING that a safe, secure roof over our heads is a HUMAN RIGHT in Australia will force the hand of Politicians and their mates who have BENEFITTED from this current system.
Please share and encourage others to sign and share too :)
Thanks Bev