How To Fix The Housing Crisis
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Capital Gains and Tax Concessions
- Remove Capital Gains Tax Concessions for all property.
- Remove depreciation deductions for all residential property.
- Give the Australian Taxation Office the authority and
resources to police and data-match property sales and ownership on a
- Replace Stamp Duty with a broad-based Land Tax.
- Option to pay up-front or upon sale for low income
earners / disabled / welfare recipients to avoid additional burden.
- Land tax should increase (like income tax) based off
total land assets value owned relative to the national average to
ensure land is utilised efficiently; i.e. you should pay heavily to
have a single dwelling on a large block in the centre of the city, and
to incentivise many small owners rather than a few centralised landlord
- Remove Negative Gearing from all property, except on new
property for the first five years of ownership.
- Where it is allowed, limit Negative Gearing to offset
asset class income; i.e. losses on property can only offset income from
- Restrict individuals and couples to a single investment
property or holiday home in addition to their primary residence.
- Except if additional property is housing someone for whom
owner is registered as the primary carer (e.g. the property houses a
disabled person or someone with age-related illnesses).
- Owner occupiers have the right to first refusal on
all established residential property.
- Unless an investor submits plans and acts on a
rebuild or renovation that results in a net increase in the number
premises, square footage, bathrooms and bedrooms within 12 months of
- Government to return to public housing initiatives by
building public housing en mass.
- Government to have right of first refusal on property
within 1 km of a major public transport hub, such as a train station.
Dwelling Quality Standards and Faults
- All new dwellings must meet new energy efficiency and build
quality (lighting, airflow, insulation, noise isolation, etc.)
- Minimum size for apartments, bedrooms, living areas,
- New development sale money held in escrow by the government
paid out to the original developer following a half-life of 1 year
(maximum 5 years) - to be used as insurance against any major repairs
where a property developer intends to strategically declare bankruptcy.
- Subject Real estate agents to the provisions of the
Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF
- Only Australian Citizens or Permanent residents may
purchase Australian property.
- Match purchase prices against declared income and prosecute
- Match ownership records against Immigration records of time
country. If the resident is absent more than 6 months in three
consecutive years a forced sale occurs.
- Force the sale of properties bought using overseas funds
by proxy of an Australian citizen or permanent resident. Prosecute the
- Return net overseas migration to the 1970-2000 average of
per year (currently 200,000) or to the OECD average per capita.
- Properties unoccupied for more than 9 months, based on
electricity, water and gas usage data matching, will incur a fine equal
to 10% of the marketable value of the property.
- Limit loans to a maximum Loan to Value Ratio (LVR) of 80%
- Ban interest-only loans.
- Restrict loans to a maximum 15 year repayment period.
- Impose a Mortgage Servicing Ratio cap (the amount of
gross monthly income spent on mortgage repayments) of 30% of the
borrowers gross monthly income.
- Impose a maximum debt to income ratio of seven times gross
- Loan deposits must be paid in cash, not in equity such as
equity in existing property.
- Deposit/Repayment assistance from parents is treated as
taxable earned income to the property purchaser(s).