Nick McKim (Tasmania, Australian Greens) Share this | Hansard source

My question is to Senator Wong, representing the Prime Minister. Senator, over the next decade, Labor plans to hand out $176 billion in tax concessions to property speculators through negative gearing and the capital gains tax discount. These pour fuel on the fire of Australia's housing crisis, contributing to massive price rises that have locked millions of Australian renters out of homeownership and made it easier for an investor to buy their ninth or 90th property than it is for someone trying to buy their first home. Minister, do you accept that these tax breaks push up house prices and massively disadvantage renters trying to get in to the property market? Why won't Labor negotiate with the Greens to curtail these tax handouts so more people can afford a home, rather than taking a bulldozer approach on your Help to Buy Bill, legislation which will only make matters worse?