@andyjennings Unless Australia diversifies its sources of growth and wealth creation, its economic future remains dangerously tied to the ups and downs of the property market. It could continue on a path of:
Growing inequality,
Decreasing intergenerational mobility,
Exposure to financial instability,
And missed opportunities in emerging industries.
But with policy courage and public pressure, the country could shift toward a more balanced, sustainable, and inclusive economic model. #pigsfly
#Finland has nearly eradicated #homelessness with its #Housing First policy, proving that a home is a human right. Could Australia follow their lead and achieve the same? #HousingFirst #EndHomelessness #PigsFly #developerlobbying
https://www.sbs.com.au/news/article/finlands-affordable-housing-projects/w6wtbnykd
8. Support for Affordable Housing
Policy: Increase government investment in #affordablehousing projects and provide incentives for developers to include affordable units in new developments.
Goal: Directly increase the supply of affordable housing for low- to middle-income Australians.
Current Law: Various schemes exist, but funding and support could be expanded.
9. Capital Gains Tax (CGT) Adjustments
Policy: Adjust the capital gains tax to make #speculative investment less attractive, possibly by reducing the discount on #CGT for properties held for short periods.
Goal: Discourage short-term flipping of properties and promote longer-term investment in the housing market.
Current Law: Currently, there are discounts on CGT for properties held longer than a year, which can encourage speculation.
10. Rent Control
Policy: Implement or strengthen rent control laws to limit the rate at which rents can increase.
Goal: Protect #tenants from exorbitant rent increases in markets with limited supply.
Current Law: Rent control varies by state, and stronger measures could be considered in areas with significant rental stress.
Implementation Challenges
While these changes could be effective, they would likely face opposition from various stakeholders, including #property investors, #developers, and segments of the financial industry. Effective implementation would require careful planning, political will, and a commitment to prioritising #housing affordability and availability over short-term economic gains.Furthermore, any legal changes would need to be accompanied by strong enforcement mechanisms to ensure compliance and achieve the intended outcomes. Public awareness campaigns and consultation with communities would also be essential in gaining broad support for these reforms. #pigsfly
Last year, a Victorian tax brought in $11.3 million from investors with empty residential properties. Shouldn't every state do the same? #NeverGoingToHappen #PigsFly #PropertyLobby #Victoria #nsw #greed
It's a Victorian tax hitting up investors sitting on empty residential properties β but analysis suggests it could be missing roughly 90 per cent of so-called "ghost homes" eligible for the charge, less than a year out from a planned expansion of the levy.
"The New South Wales government needs to take back control of tolls." (#pigsfly)
The report forecast that drivers would pay $195 billion in tolls between now and 2060.
The biggest toll burden is due to #WestConnex, which the report found drivers will pay for "three times over".
#mostTolledCityOnEarth #boganstate #nsw #lnpfail
https://www.abc.net.au/news/2024-03-11/nsw-sydney-tolls-report-cost-drivers/103571256
An independent review has found that Sydney's tolls are putting the finances of private companies ahead of drivers, who are set to fork out $195 billion over the next 36 years.
The Bog Witch π¨π¦
Mojo β»οΈ
Warner Crocker