Australian Treasurer Addresses Dysfunctional Housing Market, Tax Imbalance

Australian Treasurer Jim Chalmers highlighted the housing market's dysfunction and an 'out of whack' tax system. The opposition emphasized increasing housing supply and opposed tax hikes.

Tue May 12 2026

Treasurer's Diagnosis of Housing Market

Australian Treasurer Jim Chalmers stated that the housing market "isn't working" and the tax system surrounding it is "out of whack." This indicates the government's recognition of the housing issue ahead of the 2026 federal budget presentation.

Opposition Calls for Increased Housing Supply

Claire Chandler, the shadow minister for finance, advocated for building more houses and opposed taxing them. Chandler argued, "You don't make more of something by increasing taxes on it. Taxes are inherently a disincentive to create more of something." She also mentioned government programs like the 5% deposit scheme, the Housing Australia Future Fund, and partnerships with states and territories to enable housing development.

*Source: The Guardian World (2026-05-12)*

Tags: #Australia #HousingMarket #Treasurer #Budget #Tax