will push the Albanese government to curb generous tax concessions for investment properties, in a plan that could raise $6 billion a year for housing supply.
Under the most modest option, the CGT discount would be removed for new rental properties purchased after July 1, and halved for newly built homes. That plan would raise $16 billion for the budget by 2033-34. “Tax reform on its own won’t solve the housing crisis but it can be a powerful tool to drive new supply and should be on the table for sensible debate.”
These negatively geared investors claimed rental losses of $7.8 billion, providing a tax benefit of $2.7 billion in 2020-21.
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