The Federal Government’s decision to reform investor tax breaks is a major step forward for people struggling with housing insecurity and poverty.
For decades, billions of dollars in tax breaks have disproportionately benefited wealthier Australians while renters and people on low incomes have been left behind.
Rents have soared and more people have been forced to choose between paying for housing and paying for essentials like food, medicine and energy bills.
While the government’s reforms won’t solve the housing crisis overnight they are an important start.
By reducing incentives that encourage investors to compete for existing homes these changes can help make housing fairer for everyone. And free up public resources for solutions that improve affordability.
Most importantly the reforms show that change is possible. For years, politicians claimed housing tax reform was too difficult.
Thanks to the efforts of supporters, community organisations and housing advocates across the country, that has changed.
But there is still much more to do.
Australia urgently needs more social housing. Too many people are stuck on waiting lists, sleeping rough, or living in housing they cannot afford.
Building more public and community housing is the most effective way to ensure everyone has access to a safe, decent and affordable home.
The savings from these reforms should help fund more of the homes that people on the lowest incomes desperately need.
At the same time, millions of renters continue to face rising rents, insecure tenancies and poor-quality homes. Governments must strengthen renter protections so people can live with greater stability and security.
Tax reform is an important milestone but it is not the finish line. Together, we will keep pushing for the social housing and renter protections needed to end Australia’s housing crisis.
Maiy Azize is Deputy Director of Anglicare Australia and Everybody’s Home Spokesperson