{"id":33820,"date":"2025-07-22T15:49:39","date_gmt":"2025-07-22T05:49:39","guid":{"rendered":"http:\/\/www.16news.com.au\/?p=33820"},"modified":"2025-07-22T15:49:39","modified_gmt":"2025-07-22T05:49:39","slug":"the-cgt-discount-turns-home-buying-into-a-sport-for-rich-property-investors-while-first-home-buyers-stand-on-the-sidelines-and-watch","status":"publish","type":"post","link":"http:\/\/www.16news.com.au\/index.php\/2025\/07\/22\/the-cgt-discount-turns-home-buying-into-a-sport-for-rich-property-investors-while-first-home-buyers-stand-on-the-sidelines-and-watch\/","title":{"rendered":"The CGT discount turns home buying into a sport for rich property investors while first home buyers stand on the sidelines and watch"},"content":{"rendered":"\n

The CGT discount needs to be scrapped if Australia has any chance of addressing the housing crisis, the Greens say.<\/strong><\/p>\n\n\n\n

Lines attributable to Senator Nick McKim, Greens Economic Justice Spokesperson:<\/p>\n\n\n\n

\u201cThe CGT discount is a gift to wealthy investors that\u2019s helped turn housing into a speculative asset, rather than a human right.\u201d<\/p>\n\n\n\n

\u201cIt\u2019s one of the most destructive tax concessions in the country. It drives up prices, fuels inequality, and helps to shut an entire generation out of home ownership.\u201d<\/p>\n\n\n\n

\u201cLabor knows this tax break is contributing to the housing crisis, but they\u2019re too scared to stand up to the property lobby and their big donor mates.\u201d<\/p>\n\n\n\n

Senator Barbara Pocock, Greens housing spokesperson:<\/p>\n\n\n\n

\u201cIf the Government genuinely wants to fix the housing crisis, scrapping the capital gains tax is an essential and long overdue reform.\u201d<\/p>\n\n\n\n

\u201cLet\u2019s be clear – this is a tax break for wealthy property investors, a tax break which comes at a cost to first home buyers and owner occupiers. This is also a tax break that increases levels of homelessness, which have increased by 10 percent under this government<\/a> since it was elected in 2022.\u201d<\/p>\n\n\n\n

\u201cMassive tax breaks for wealthy property investors are cooking our housing system. Instead of everyone having a roof over their head, houses have become an investment asset class – which fuels intergenerational inequality.\u201d<\/p>\n\n\n\n

\u201cInstead of funding tax breaks for rich property investors, this government could be redirecting funds to building more public and affordable housing.\u201d<\/p>\n\n\n\n

\u201cUnless the Government makes the necessary reforms to the tax concessions for property investors, we\u2019ll continue to see house prices rise and rents spiral. The Greens stand ready to work with Labor to action this urgent reform.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The CGT discount needs to be scrapped if Australia has any chance of addressing the housing crisis, the Greens say. Lines attributable to Senator Nick McKim, Greens Economic Justice Spokesperson: \u201cThe CGT discount is a gift to wealthy investors that\u2019s helped turn housing into a speculative asset, rather than a human right.\u201d \u201cIt\u2019s one of … Continue reading “The CGT discount turns home buying into a sport for rich property investors while first home buyers stand on the sidelines and watch”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-33820","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/33820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=33820"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/33820\/revisions"}],"predecessor-version":[{"id":33821,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/33820\/revisions\/33821"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=33820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=33820"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=33820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}