Anglicare Australia is calling on the Opposition to support the Federal Government’s tax reform package ahead of tonight’s Budget Reply, warning that Australia’s housing system is becoming increasingly unaffordable for renters and people trying to buy a home.
The call comes as a new Anglicare Australia analysis, The Rental Divide, shows median rents are now unaffordable for households on median incomes in all but 10 federal electorates nationwide.
Anglicare Australia Executive Director Kasy Chambers said the findings showed Australia could not continue relying on tax settings that encouraged speculative investment while locking more people out of secure housing.
“Our analysis shows renters and first home buyers are being squeezed from both sides,” Ms Chambers said.
“Renters are paying the price for a housing system increasingly driven by short-term speculative gains, while people trying to save for a home are watching prices run further away from them.”
Anglicare Australia urged the Opposition to support the reforms rather than deepen uncertainty around future action on housing affordability and inequality.
“This package represents the most significant move on tax fairness in decades,” Ms Chambers said.
“The Opposition has a choice to back sensible reforms that make the tax system fairer, or keep backing a system that gives bigger rewards to people making money from wealth and property than to people earning a wage.
“Tax reform alone will not fix the housing crisis. Australia also urgently needs large-scale investment in public and community housing. But winding back tax settings that fuel speculative pressure is a key part of the solution.”