Petition for a binding referendum on negative gearing and CGT reform in Australia

Petition to the Government of Australia for a Binding Referendum on Negative Gearing and Capital Gains Tax Reform.
To the Honourable Members of the Australian Parliament,We, the undersigned citizens and residents of Australia, formally petition the government to hold a binding referendum on the issue of investment property negative gearing and capital gains tax (CGT) legislation.
For decades, negative gearing and CGT discounts have artificially inflated the Australian housing market, creating unsustainable conditions for homebuyers and renters alike. These policies have:

Driven Housing Prices Beyond Reach – By providing excessive tax incentives to property investors, negative gearing has fueled speculation, disproportionately increasing house prices and making homeownership unattainable for many Australians.
Worsened Rental Affordability – Investors, motivated by tax deductions rather than sustainable rental models, have created a housing environment where rental prices continue to skyrocket, leaving tenants in increasingly precarious living situations.
Created an Investment Monopoly – The ability for investors to deduct property losses against other income has led to a monopoly over the housing market, where first-home buyers are consistently outbid by speculative investors. This issue is further exacerbated by the explosion of short-term rental platforms such as Airbnb, reducing the stock of long-term rental properties and driving rents even higher.
Encouraged Government Inaction – Successive governments have failed to address this crisis due to vested interests and political inertia, despite overwhelming evidence that the current taxation system benefits investors at the direct expense of everyday Australians.
The consequences of this flawed policy framework are clear: a housing system that prioritises investor profit over the fundamental right to secure and affordable housing.

We therefore demand a binding referendum on the following questions:

Should negative gearing on investment properties be phased out in order to improve housing affordability?
Should capital gains tax discounts be reduced or removed to discourage speculative investment and stabilise the housing market?
The Australian people deserve the right to directly decide on these critical housing policies, as successive governments have failed to act decisively.

We call upon the Government of Australia to listen to the will of the people and to hold a binding referendum on these matters without delay.

Respectfully submitted,

Here is the petition link: Petition for a binding referendum on negative gearing and CGT reform in Australia

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