The CGT discount turns home buying into a sport for rich property investors while first home buyers stand on the sidelines and watch

The CGT discount turns home buying into a sport for rich property investors while first home buyers stand on the sidelines and watch | Australian Greens Skip to main content Search Get Involved Join Donate Our plan Tax the 1% Tackle the cost of living Healthcare for all Fix the housing crisis Strong climate action Policy principles & aims Our team Federal MPs State/territory MPs Officeholders Media releases Take action Volunteer Donate Issues & campaigns Events Greens Shop Leave a bequest Our movement About the Greens Become a member Jobs Green Magazine All news Get Involved Join Donate Search Our plan Toggle Tax the 1% Tackle the cost of living Healthcare for all Fix the housing crisis Strong climate action Policy principles & aims Our team Toggle Federal MPs State/territory MPs Officeholders Media releases Take action Toggle Volunteer Donate Issues & campaigns Events Greens Shop Leave a bequest Our movement Toggle About the Greens Become a member Jobs Green Magazine All news The CGT discount turns home buying into a sport for rich property investors while first home buyers stand on the sidelines and watch 2025-07-22 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: “The CGT discount is a gift to wealthy investors that’s helped turn housing into a speculative asset, rather than a human right.” “It’s 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.” “Labor knows this tax break is contributing to the housing crisis, but they’re too scared to stand up to the property lobby and their big donor mates.” Lines attributable to Senator Barbara Pocock, Greens housing spokesperson: “If the Government genuinely wants to fix the housing crisis, scrapping the capital gains tax is an essential and long overdue reform.” “Let’s 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 since it was elected in 2022.” “Massive 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.” “Instead of funding tax breaks for rich property investors, this government could be redirecting funds to building more public and affordable housing.” “Unless the Government makes the necessary reforms to the tax concessions for property investors, we’ll continue to see house prices rise and rents spiral.

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