Reforms to negative gearing and the capital gains tax discount are long overdue changes that will help put homes back in reach for more Australians, Homelessness NSW CEO Dominique Rowe said in response to last night's Federal Budget.
“For too long, Australia’s tax system has rewarded housing as an investment while more people are being pushed into homelessness,” Ms Rowe said.
“These reforms are an important step towards fixing our broken housing system.
“We also strongly welcome $2billion for essential infrastructure needed to boost the supply of housing.
“The federal government has taken a bold path to make a real difference. Now it’s over to the NSW state government to do its part.
“We need a firm commitment from NSW to grow chronically lacking social housing stock until it makes up 10 per cent of all homes.
“We also need homelessness services funded to meet demand and will continue to advocate for a 50 per cent increase so every person can get help before they hit crisis.”
Ms Rowe also welcomed the Federal Budget’s nearly $60 million commitment to help remove the youth housing penalty, where community housing providers receive up to 50 per cent less for housing a young person instead of someone on the aged pension.
“Young people should never have been locked out of housing because of what was essentially a technicality,” she said.
“This is a sensible and overdue step at a time when youth homelessness is worsening and the number of social and affordable homes still falls short.”
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