Greens want to force negative gearing, capital gains tax back on agenda

Many polls, including the Resolve Political Monitor published by this masthead, have pointed to the distinct possibility of a hung parliament.

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The Greens will warn that failure to act threatens the Australian social contract, but “the Greens will make reforming negative gearing and the capital gains tax discount a priority in the next parliament, including when there’s a minority government”.

“This reform has always been urgent, but the threat of a Trump-fuelled attack on Australian renters and first home buyers in the next few months now makes this a matter of housing life and death,” Bandt will say, according to an advance copy of his speech.

“Renters and first home buyers may get smashed even further in the next few months as wealthy investors, spooked by Trump, leave stocks and shares and pile into property, pushing house prices into the stratosphere.”

The Greens believe that with 7 million renters in Australia and Gen Z and Millennials forming the largest voting bloc at the next election, the time is right for the landmark tax reform.

“With a minority government coming, the third of the country who rent and who are locked out of owning a home will finally get a seat at the table even if they can’t afford a roof over their head,” Bandt will say.

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