'Boost affordable housing measures'

TAX breaks for housing investors - worth $5 billion over five years - should be abolished to help fund an $8.5 billion national program to improve housing affordability around Australia, according to Australians for Affordable Housing.

A campaign to create more affordable housing, led by AAH manager Sarah Toohey, has called for all state, territory and federal housing ministers to consider boosting measures to build more affordable housing.

The proposal, to create a new $1.4 billion fund to build at least 20,000 new low-cost rental properties each year, was released today.

The plan also includes a doubling of the existing national rental affordability scheme, to the tune of $1.1 billion over five years.

To fund the majority of the changes, Ms Toohey said, the two levels of government would need to change negative gearing and capital gains tax breaks as well as abolish stamp duty.

"Housing is the single biggest household cost in Australia and, over the last 25 years, housing costs have been taking a bigger bite of our household budgets - up as a proportion of spending by 41% in that time," she said.

"By contrast, we actually spend slightly less on energy bills than we did in 1984.

"Yet, while we hear increasing outrage about the burdens of power bills, political parties are not calling for similar action on our housing affordability crisis."

Ms Toohey also called for a Productivity Commission review of the Commonwealth Rent Assistance program and increasing the allowance to about $27 a week, costing the government $6 billion over five years.

Housing ministers from all states and territories will join Federal Minister Brendan O'Connor to discuss housing programs in a Council of Australian Governments meeting in Perth on Friday.

But while such proposals may be discussed during the meeting, they do not form part of the official agenda.

Housing Affordability Proposals:

  • Establish a fund for at least 20,000 new low-income rental properties each year. Cost: $1.4 billion over five years.
  • Double the number of property incentives under the National Rental Affordability Scheme. Cost: $1.1 billion over five years.
  • Change the tax breaks for housing investors, like negative gearing and capital gains tax discounts. Saving: $5 billion over five years.
  • Increase the current maximum rate of Commonwealth Rent Assistance to between $22 and $27 per week. Cost: $6 billion over five years.
  • Help state governments to abolish stamp duty and introduce a broad-based land tax.

Topics:  housing

OPINION: Don't get me started on smashed avocado

Start your day with Smashed avocado, Fetta and a Poached Egg for breakfast.

Owning your own home nothing more than a pipe dream for Gen-Y

History in the making: 90 years at the Saraton

ABOVE: School children line up for the opening of the theatre in 1926. ABOVE LEFT: The Saraton Theatre covered by floodwaters in 1956, one of the many occasions it was inundated. FAR LEFT: Workers stand on the original brickwork of the Saraton theatre in 1926.

How grand theatre vision of two Greek brothers came to fruition

Scene set for explosive racing in revamped 9-Hour G-Bomb

First on his bike was Michael Brown at the 2014 G-Bomb Mountain Bike Race held in the Bom Bom State Forest.November 8, 2014Photo: Leigh Jensen / Daily Examiner

More than 250 riders heading to the forest for annual G-Bomb.

Local Partners

Meet the faces behind the highway upgrade: PT I

MEET communications advisor Colleen Catterson in the first part of the DEX's new series introducing people who have moved to the region due to the highway.

Scene set for explosive racing in revamped 9-Hour G-Bomb

First on his bike was Michael Brown at the 2014 G-Bomb Mountain Bike Race held in the Bom Bom State Forest.November 8, 2014Photo: Leigh Jensen / Daily Examiner

More than 250 riders heading to the forest for annual G-Bomb.

The Saraton: More than just a picture theatre

Iconic theatre still lighting up lives 90 years on

9 Things To Do this weekend

TAKING TO THE WATER: Paddlers kick off the third stage in last year's Clarence 100.

Paddlers on the river from Copmanhurst to Yamba

Selma Blair blames flight outburst on 'psychotic blackout'

Selma Blair

"I am someone who should never drink, and I rarely do"

Bob Dylan acknowledges Nobel Prize win

Bob Dylan has finally acknowledged his Nobel Prize win

WATCH: Trailer for Jackman's final Wolverine film released

First trailer for the last Wolverine film with Hugh Jackman.

Thrilling trailer promises a dark, dystopian finale for Wolverine

CCTV footage surfaces of Kim Kardashian West's robbers

The blurry footage shows three men on bikes and two on foot

Cathriona White's mother claims to have Jim Carrey's results

Jim Carrey and late ex-girlfriend Cathriona White

SHE claims Carrey exposed White to herpes, chlamydia, Hepatitis A

The Koi Boys are back with more covers and original songs

Former Voice contestants The Koi Boys have signed with Universal Music.

THE Voice favourites release their debut album today.

New $200 million development will create 580 jobs

Cassie And Josh with baby Alfie and daughter Andee. They have bought at new Lennox Head development Epiq.

Majority of new positions will be given to Northern Rivers locals

Cherrabah's mega resort plans axed

PLANS for a massive development at Cherrabah have been scrapped.

Dusit Thani finance crisis 'just a small hiccup'

ON TRACK: Springfield Land Chairman, Maha Sinnathamby, Ipswich Mayor Paul Pisasale, Developer Richard Turner and Springfield Land Deputy Chairman, Bob Sharpless, at the recent resort sod turning ceremony.

Property developer says project remains firmly on track

Heavyweight enters real estate market

Des Besanko principal and director of Raine and Horne Springfield.

Major rebranding which has seen two big name brands merge

Tenants renting rooms on Airbnb breaching lease

Rental properties.

Tenants renting rooms on Airbnb is a no no

First home buyers smash avo-on-toast excuse

TOASTED: A Coast real estate identity and first home buyers say young people should not put home ownership in the "too hard” basket and eat out instead.

Determined first home buyers can get into market