2026-01-30
New data from ACOSS today shows the Federal Government spends more on housing investor tax breaks ($12.3bn in 2025) than on social housing, homelessness services and rent assistance combined ($9.6bn in 2025).
In the midst of a housing crisis, millions of Australian families are living in fear of a possible mortgage rate rise next Tuesday, driven largely by rising house prices resulting from Labor’s failed housing policies, including changes to the 5% deposit scheme which have poured fuel on the fire.
The Australian Greens say the housing and homelessness crisis cannot be solved unless the government winds back tax breaks, such as the capital gains tax discount and negative gearing, builds more public and affordable housing and stops pushing policies that fuel demand and make the crisis worse.
Lines attributable to Greens spokesperson for finance, housing and homelessness Senator Barbara Pocock:
“Labor’s response to the housing crisis is making things worse. It is more concerned about rewarding property investors with tax breaks than about investing in social housing, homelessness services, and rent assistance altogether.
“We are in a housing crisis and the government is adding fuel to the fire. Labor’s policies are driving up house prices, rents continue to skyrocket, and waits for social housing are getting longer.
“What’s clear is that Labor prioritises the wealth of property investors, many of whom have dozens of properties, instead of ensuring everybody has a roof over their head.
“For decades, successive Labor and Coalition Governments have put billions of dollars in the pockets of property investors, property developers and the banks. We won’t solve the housing crisis unless the government scraps its $181 billion tax breaks for wealthy investors.
“Labor needs to treat housing as a human right instead of a game of monopoly. What we need is real action and that means winding back tax breaks for wealthy property investors, as well as building affordable houses in the places where Australians need them.
“Labor needs to stop faffing around with the HAFF, which is too slow and too complex, and it needs to stop fuelling demand with policies like the 5% deposit changes which just make the crisis worse. The government must immediately fund social and affordable housing directly to drive down rental prices.”
Media contact: Charlotta Lomas - 0466339862