Research released this week reports that Perth is the most unaffordable Australian city to rent in, with an average renter spending more than 30 percent of their income on rent. Unfortunately, the least affordable parts of the least affordable city lie in Curtin.
When out doorknocking and in our community, housing affordability comes up constantly. Parents worry about how their adult children will become home owners without help, they worry about the lack of diverse housing options to rent and buy, and about tax incentives that make it harder to buy a home than an investment property.
There is a high level of engagement in the Curtin community when it comes to the serious issues of housing affordability and tax reform.
After a number of community events during the last Parliamentary term, I released my Housing Policy, which you can read using the QR code below.
Last week, I explored our community's views on tax and housing more deeply, using a new AI-driven digital tool called Remesh, to better understand 242 Curtin residents’ views on negative gearing and capital gains tax reform.
From this process, I found that there is broad appetite for resetting tax incentives around housing, to give younger generations a chance of owning their own home. Approximately 90 percent of participants, including many who own an investment property, supported reform in these areas.
This was also supported by Dr Ken Henry AC at an event on tax reform with 200 people at the Claremont Football Club a few weeks ago. Fifteen years on from the Henry Tax Review, no significant reform has been undertaken by consecutive governments to address the issues he identified then, and some are worse.
Our tax system is not fair for younger Australians – we have a structural deficit, growing health and aged care costs as the population gets older and tax incentives on housing are distorting the market.
Dr Henry provided a rich historical perspective and emphasised the need for change and the political difficulties when major parties are focused on the short term.
Ongoing engagement with experts alongside the Curtin community reinforces my determination to hold both sides of politics accountable on courageous tax reform, particularly in relation to housing.