Australia: House the poor by taxing sales

The 2020 summit held by the Prime Minister last weekend debated Australia's future economic and social directions, including social and community housing and affordability.
World Vision chief executive Reverend Tim Costello said we need more public funding for housing saying only about 6% of the nation's housing is publicly provided compared to a much higher level in other countries. Given this low level of public housing, the increasing rates of homelessness and historically low rental vacancy rates there is obviously a need for the Government to take action.
And with the historically high revenues from stamp duties in the states, Mr Costello suggested that 0.5% of the sale price of every flats should go into a national foundation to contribute to public and social housing and to deal with homelessness. On a median-priced Melbourne house this would be about $2500.
All states and territories provide community housing in different ways, however, the idea of linking property tax directly to providing social and community housing holds merit and is worthy of greater investigation.
A key recommendation from the summit is for the Federal Government to review state and federal taxes with the aim of simplifying them, reducing inefficient taxes and harmonising them. It would enable the collection and use of stamp duty to be examined in the tax mix.
The REIV looks forward to the Government accepting this recommendation and initiating a program to increase funding for public housing.

Cheers mates, best wishes!