Amanda Winks, Housing Trust
You have probably seen the debate around changes to capital gains tax and negative gearing. It’s been hard to miss. I am no tax expert, but I am deeply invested in a fairer housing system. From that perspective I have been interested in what these changes could make possible.
A recent report from Australian Community Housing (the national peak body for community housing providers) estimates these reforms could generate around $3.6 billion in government revenue. If that were directed into community housing, it could help deliver about 15,500 new safe, secure and affordable homes by 2030.
That’s significant, but it also gives you a sense of the bigger gap we’re working within. Australia is one of the wealthiest countries in the world, yet when it comes to social housing we’re not performing like one. Compared to similar countries we simply don’t have enough of it. We see that in long waiting lists, high levels of rental stress and growing rates of homelessness.
Even with the additional 55,000 homes already planned by the Commonwealth, we’re not catching up.
To reach even six percent social and affordable homes by 2050, Australia would need an additional 510,000 homes. That’s a big number.
But the core issue is simple. Australia doesn’t just need more housing. We need more of the right housing.
Reinvesting tax reform revenue into social and affordable homes won’t solve the challenge on its own, but it would be a real step forward. More importantly it would make a meaningful difference to people trying to navigate a system that isn’t working for them.
There is also a strong public expectation here. Sector research shows around 79 percent of Australians see social housing as critical to fixing the housing system, and more than half say they would be less likely to support a Government that reduces investment in it.
Community housing providers are ready to do more. As not for profits, we put everything back into homes and services. Across the country, we already manage around 149,000 homes, and we work closely with government and partners to grow that number when the settings allow.
Done well, this is a chance to turn tax reform into something people can actually see and feel. More homes, in the places they are needed, for the people who need them.
