Ahead of tomorrow’s Federal Budget, Anglicare Australia is calling on the Albanese Government to deliver meaningful tax reform, major investment in social housing, and cost of living relief targeted to the people doing it toughest.
Reports suggest the Government is considering changes to negative gearing, the Capital Gains Tax discount, and trust arrangements in tomorrow’s Budget. Anglicare Australia Executive Director Kasy Chambers said reforming unfair tax concessions would be an important and overdue step.
“For too long, Australia’s tax system has rewarded wealth over work and pushed housing further out of reach.
“Tax breaks like negative gearing and the Capital Gains Tax discount have helped turn housing into a speculative asset instead of a human right.
“We are hopeful the Government will take meaningful action in this Budget. Reforming these concessions would be one of the most significant steps toward reducing inequality in decades.”
Ms Chambers said tax reform must be paired with major investment in social and affordable housing.
“We urgently need the Government to boost investment in social and affordable housing. Right now, hundreds of thousands of people are locked out of secure housing, while waiting lists grow longer every year.
“The market is failing people on low incomes. Without a substantial increase in public and community housing, more people will be pushed into homelessness and housing stress.”
Anglicare Australia also warned against broad cost of living measures that fail to recognise the vastly different pressures facing households.
“Not everyone experiences the cost of living crisis in the same way. People on the lowest incomes are being hit hardest because essentials like rent, food and energy take up almost all of their income.
“That is why this Budget must include targeted measures for people who need help most, including a substantial increase to JobSeeker and related income support payments.
“Across the country, we are seeing people skip meals, go without medication and fall behind on rent because income support payments are simply too low. “A fair Budget is one that recognises inequality and acts on it.”