Greens call on Labor to axe $33b in property baron tax handouts to deliver relief for households
2026-06-13
greens.org.au
Ahead of the inquiry into Labor’s tax changes beginning in parliament next Monday, the Greens call on Labor to scrap tens of billions in tax handouts for professional property investors and redirect the money into what could be a $2200 cost of living relief payment for every renter and mortgage holder in the country.

PBO analysis, based on ATO data for 2023-24, reveals people with two or more investment properties claimed an eye-watering $33 billion in tax handouts that year. This included 11,000 landlords with 7+ houses who claimed $1.9 billion from 98,100 investment properties.

The data shows Labor’s grandfathering of property investor handouts locks in tax benefits to people at the top end of town, while renters and mortgage holders bear the brunt of an unfair housing market.

Not only does Labor’s excessive grandfathering represent a massive budget expenditure on the ultra wealthy, it also disincentivises existing property investors from selling these homes to first home buyers. Labor has, by accident or design, created a class of "unicorn" assets with favourable tax settings for people who already own multiple properties, and those property investors will now be incentivised to retain and reborrow against these assets in perpetuity.

Lines attributable to Leader of the Australian Greens, Larissa Waters:

“Australians are suffering through the worst cost of living crisis in memory and Labor has chosen to lock in $33 billion worth of tax handouts to protect property barons.

“For the same amount of money the government spends on tax handouts to multiple property landlords, they could give a $2200 cost of living payment to every Australian renter and mortgage holder.

“For a budget sold on generational inequity, this is the sort of top-end tax handout that should have been scrapped to encourage mega landlords to sell properties to first home buyers.

“Instead Labor is rewarding property hoarding.”

Lines attributable to Greens spokesperson on Economic Justice & Treasury, Nick McKim:

“The data shows Labor is working for the wealthy investors, locking in tax handouts stacked in favour of professional property speculators.

“The biggest beneficiaries of Labor’s grandparenting sit at the top end of town, exactly where Labor should start scrapping publicly funded handouts in the name of fairness.

“If you take away the tax perks, it becomes less attractive to hold onto multiple properties as a tax shelter, and that shifts the incentive to sell to first home buyers.

“Labor’s own housing plan is so heavily grandparented that it is only expected to free up 75,000 homes over a decade. But there are 1.7 million houses still being treated as tax-preferred unicorn assets.

“That keeps the pressure on the market and makes it harder for first home buyers to compete.”

whiteknight wrote on Jun 15^th, 2026 at 11:42am:


This makes no sense, so the government will make an extra $2200 for every renter and mortgage holder. And this is going to help the first home buyers how?


Quote:


Handouts, any money you don't hand over as tax is now a handout.