Australia spends more on landlord tax breaks than on social housing and homelessness

Australia spends billions more on tax breaks for property investors than it spends on social housing, homelessness services and rent assistance combined, according to research by the Australian Council of Social Service (Acoss). The analysis says tax concessions for landlords cost $12.3bn in 2025, while total expenditure on the key housing assistance programs totalled $9.6bn.

Productivity Commission data cited by Acoss shows the share of homes dedicated to social housing has dropped to a record low 3.6%, down from 5.7% in the 1990s. The decline in accessible homes for low-income families comes amid soaring rents, growing social housing waitlists and rising homelessness.

The number of households on public housing waitlists has climbed to about 190,000, up from 169,000 in 2024 and 141,000 in 2018. Acoss’s acting chief executive Jacqueline Phillips said the report “shows housing stress and homelessness are getting worse while absurdly generous tax breaks drive up home prices and supercharge inequality in our society”.

With a Greens-led parliamentary committee examining property tax breaks, Phillips urged the government to curb capital gains tax concessions and negative gearing and redirect the billions into achieving a more ambitious social housing target. The analysis notes new social housing now accounts for less than 2% of homes built each year.

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