The capital gains tax discount is not the cause of Australia’s housing crisis, which is being driven by a collapse in supply alongside rapid population growth. Union and superannuation groups are pushing to weaken incentives for individual investors while preserving concessions for super funds, revealing a conflict of interest and a broader push toward institutional ownership of housing.
The Government has failed on housing on a number of fronts. There has been the failure of their Housing Australia Future Fund to build homes. There has been a collapse in housing construction from an average of 200,000 homes a year between 2013 and 2022 which is down to 170,000.
Labor has wasted almost 7 hours of the Senate’s time this week in blocking and obfuscating. Why? Because they don’t want to comply with Orders of Production.
In June last year, the biggest shake-up to Australia’s $3 trillion superannuation system passed the Senate. It wasn’t easy, but the idea was vital: to hold the most privileged industry in Australia to account.
Follow Senator Bragg on your preferred social media platform
Watch Senator Bragg's first speech to parliament
Join Senator Bragg's newsletter for updates on policies shaping our nation.