Union calls for end to tax breaks that make Australian housing ‘a vehicle for hoarding wealth’

Manufacturing workers union wants capital gains tax discount to be reduced and then phased out and an effective end to negative gearing

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A trade union has called for sweeping changes to housing tax breaks that it warns have “commodified” property and worsened inequality.

The Australian Manufacturing Workers’ Union (AMWU) wants the capital gains discount phased out for investment properties and negative gearing effectively abolished.