Senator RHIANNON (New South Wales) (15:58): I, and also on behalf of Senator Cameron, move:
That the Senate—
(a) notes that:
(i) Australian dwellings increased in price by 10 per cent in 2015-16, indicating a clear national housing affordability crisis, with Sydney prices increasing by 13 per cent and Melbourne by 13.9 per cent, and
(ii) significant causes of these price increases include distortionary negative gearing and capital gains tax discount policies; and
(b) calls on the Federal Government to significantly reform negative gearing and the capital gains tax discount to ensure housing is more affordable for first home buyers.
-The motion was voted down by one vote with 29 Noes to 28 Ayes -