Labor's plan for housing affordability
Snapshot of Federal Labor’s plan for housing affordability
Shelter WA welcomes the Labor Party’s plan for affordable renting and home ownership in Australia.
Key elements include:
A new National Rental Affordability Scheme
- 250,000 newly constructed dwellings over 10 years at a cost of $6.6bn.
- 20,000 dwellings in the first 4 years at a cumulative cost of the incentive ($8,500) of $102m.
- $8,500 subsidy to institutional investors per annum over 15 years ($127,500).
- Rent charged at 20 per cent below market rent.
- Properties to be owned or managed by community housing providers.
Labour’s 8 Point Plan
- Reform negative gearing and capital gains tax concessions.
- Limit direct borrowing by self-managed superannuation funds.
- Facilitate a COAG process to introduce a uniform vacant property tax across all major cities.
- Increased foreign investor fees and penalties.
- Establish a bond aggregator to increase investment in affordable housing.
- Boost homelessness support for vulnerable Australians.
- Getting better results from the National Affordable Housing Agreement.
- Re-establish the National Housing Supply Council and re-instate a Minister for Housing.
Read our full briefing here.
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