Catryna Bilyk (Tasmania, Australian Labor Party) Share this | Hansard source

I should not let Senator Brandis and his very large bookshelves and large acquisition of books distract me! We do have and have had some great proposed changes to negative gearing tax concessions that would limit it to newly built homes, and changes to the capital gains tax concession, reducing it from 50 per cent to 25 per cent. That would save the budget $565 million over four years. But, instead, we get from the other side: 'Well, get your parents to buy you a house.' Thanks very much: I am a parent and my son lives in Sydney and now I have two adult children saying to me, 'Help me buy a house.' I will do what I can for my kids, but not every parent is earning the income I am earning. If you think people on $80,000 a year are able to buy their kids a house then you are living in Narnia—you are living in some completely different realm, not Narnia, where reality is non-existent.

Young people deserve a chance to own a home. The Australian dream of owning your own home is still strong and ongoing with most Australians— (Time expired)