Tax rises in property wealth the same as income from working.
Capital Gains tax discounts on property mean many Older Australians earn more from owning housing than Young Australians do from working. These tax discounts cost $50bn a year. Windfall gains from owning property should be taxed the same, if not more, than the incomes from working.
Introduce a small levy on large inheritances
Why do tax the income the income we had to work for but not income we didn’t? Australia is alone in not having a levy on large inheritances. A small levy, say 2%, will make things fairer for workers who aren't so lucky.
Stop giving the pension to multi-millionaires
The primary home exemption from the pension asset test means our tax dollars are going to the very wealthy. Who are then less likely to downsize. Time to include the primary home is the test.
Build much more public housing.
Public construction and ownership of housing is the lowest cost strategy for housing relief. That’s because the government is investing in an asset, the value of which will rise over time.
Reform the unfair supertax breaks that subside inheritance.
These tax breaks costs cost a ridiculous $45 billion. Given most superannuation is unspent, these breaks only serve to boost inheritances.
Allow housing to be built where young people actually want to live.
To little housing is built close to jobs, transport, parks, and culture. These are public goods that young Australians should have access too. It also just cheaper and more sustainable to build in existing suburbs.
Make better use of the millions of empty rooms and homes.
Let’s use some of Australia’s two million empty homes and 13 million empty rooms to house actual people. We need to regulate AirBnB & encourage empty nesters to downsize.
Lift rent assistance & better target it those in need.
Roughly half of younger Australians on income support are paying more than 50% of their income on rent. Target support better, expand eligibility and the dollar support by 40%.
Improve the rights of long-term renters
Landlords have to wake up to the fact they are investing in someone’s home. Otherwise, they should invest in the stock market or gold. Our rental laws and regulations need a major fix.
Regulate the Banks. They are part of the problem.
Banks have profited enormously off the housing affordability crisis. While huge loans are the only way many can get into the market, they also lift prices higher and higher for future generations.