Breaking News

Treasury’s Proposals for Renter Support Payments

The Australian Treasury has proposed strengthening housing support for renters to combat the nation’s growing affordability crisis. Suggested reforms include enhancing Commonwealth Rent Assistance (CRA) and expanding the Better Deal for Renters program. However, scepticism remains over the Labor government’s capacity to deliver, particularly given its admission that the 1.2 million homes target by 2029 is unlikely to be met.

Treasury’s recommendations, presented to Housing Minister Clare O’Neil, propose reviewing CRA, which currently pays up to $212 per fortnight for singles and $199.80 for couples. Experts like Matthew Bowes from the Grattan Institute advocate for a 50% increase for singles and 40% for couples, citing affordability shortfalls in cities like Sydney and Melbourne. Bowes noted that “for those on an Age Pension less than 10% of one-bedroom homes in major cities are affordable”.

Another measure involves expanding the Better Deal for Renters, aimed at standardising tenant protections nationwide. Progress has been made in removing no-grounds eviction rights but Bowes argues further safeguards are needed, such as blocking evictions for property sales or owner move-ins. Reform success depends on coordinated state action and effective enforcement.

Treasury also flagged issues with the Housing Australia Future Fund (HAFF), citing concerns over slow rollout and inefficient oversight. It recommends sharper governance and clearer delivery targets.

Although these proposals offer hope for renters, the government’s housing agenda faces criticism. Treasury suggests lowering the National Housing Accord’s target from 1.2 million homes due to supply constraints such as labour shortages and compliance hurdles. Observers say these changes reflect Treasury’s pragmatic stance amid ongoing delivery shortfalls.

Leave a Comment

Your email address will not be published. Required fields are marked *

*

OPENVC Logo OpenVoiceCoin $0.00
OPENVC

Latest Market Prices

Bitcoin

Bitcoin

$120,525.56

BTC 1.66%

Ethereum

Ethereum

$3,621.86

ETH 8.04%

NEO

NEO

$7.15

NEO 9.48%

Waves

Waves

$1.13

WAVES 3.22%

Monero

Monero

$334.97

XMR -0.97%

Nano

Nano

$1.01

NANO 4.71%

ARK

ARK

$0.46

ARK 1.83%

Pirate Chain

Pirate Chain

$0.15

ARRR 6.57%

Dogecoin

Dogecoin

$0.24

DOGE 12.07%

Litecoin

Litecoin

$107.45

LTC 11.20%

Cardano

Cardano

$0.86

ADA 14.27%

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.