The Australian Greens have committed to phasing out negative gearing and capital gains tax discounts at their National Council Meeting today.
"It's long overdue that the abolition of these subsidies for the wealthy are part of a national debate on taxation," Australian Greens Housing Spokesperson Senator Scott Ludlam said today.
"For too long both Labor and Liberal parties tried to silence any discussion about reforming negative gearing and capital gains tax, so that it's on the table at all is welcome progress.
"We hope that both Mr Turnbull and Mr Shorten can both show the sort of courage that was absent from their leaders during the MRRT debate, and do not capitulate in the face of the concerted scare campaign from vested interests that's already begun.
"Of course, eliminating these massive handouts to the wealthiest Australians is only part of the equation. We must ensure that the proceeds from these reforms are invested back into addressing homelessness and housing affordability.
"The Greens have costed proposals to reform negative gearing and capital gains tax, and provide dwellings for thousands of Australians sleeping rough and unable to access vital services. We could address homelessness, housing affordability and still have funds left to invest in other essential services," Senator Ludlam concluded.
"It's great news that the Australian Greens National Council has backed a campaign to end negative gearing and capital gains tax discounts. This is very significant for Sydney where affordable housing barely exists," said Greens Senator for NSW Lee Rhiannon
"When you have housing prices increasing by 22.9% and wages increasing by 2.3%, as was the case in Sydney last year, you have a huge problem.
"The campaign to end negative gearing and capital gains tax discounts will be a major campaign for the Greens NSW. We are also calling for an extensive reform of NSW rental laws.
"We've got nearly 60,000 people in NSW waiting on social housing lists, and yet public housing is being demolished to make way for developments which are unaffordable."
The resolution passed at National Council is as follows;
Phasing out Negative Gearing and Capital Gains Tax Discounts to make our housing and tax system fairer
That the Australian Greens...
· Note housing unaffordability in Australia is at crisis levels
· Note current tax arrangements are unfair, expensive, and have significant impacts on the housing market, locking out owner-occupiers and adversely impacting on renters
· Reassert their commitment to phasing out negative gearing and capital gains discounts as part of our campaign to make our tax system fairer, as well as ensure that Australia has the revenue it needs to pay for the services we need
· Commit to public investment in affordable housing