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Housing affordability reaching crisis levels

The Australian Council of Social Service (ACOSS) national conference has heard that the lack of affordable housing has reached crisis levels.

Housing experts say there is a shortfall of tens of thousands of social Golden Goose Outlet housing homes – a number that will grow unless funding increases.

The new Housing Minister Brendan O’Connor told the conference he was there to take suggestions about how to tackle Australia’s housing affordability problems.

He said the Government needed to explore future options “with an opening and enquiring mind”.

But his open mind closed quickly when it came to the question of reducing negative gearing and capital gains tax concessions.

“The fact is that there are some things that the Government will not, at this point, consider,” he said. Audio: Tax changes urged to address housing crisis(PM)

“The Treasurer made it very clear that he expressly excluded some of those matters to which you refer. I understand that disappoints some people, but our view is that we can focus on a whole range of other issues.”‘Perverse benefits’It is not just former treasury secretary Ken Henry who has recommended the removal of tax breaks on residential housing.

One of Australia’s pre-eminent housing economists, Associate Professor Judith Yates from the University of Sydney, made many similar suggestions to the conference.

“Benefits that go to owner occupiers are perverse,” she said.

“The biggest benefits go to the people who are already established and they don’t go to younger households at a time when they need it.

“They’re inequitable. The biggest benefits go to high-income households, lowest benefits go to lower-income households.

“Treasury in 2011 estimated the value of these was around $35 billion.”

Professor Yates says the Federal Government could also https://www.goldengooseshoesit.com/ save money by doing away with negative gearing, which currently allows investors to claim investment property losses against their other income.




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