First home buyer programs are not enough on their own to get more people purchasing their own property, the prime minister says, shrugging off calls to hit pause on contentious tax changes.
Federal parliament is continuing to debate looming tax changes that would limit negative gearing to new properties from July 2027, as well as axe a 50 per cent discount on capital gains tax to a rate tied to inflation.
The government has said the changes would help to get 75,000 more people into their first home within a decade.
Anthony Albanese said the measures were necessary, despite resistance from the coalition and business groups, because previous approaches to increasing home ownership were not enough by themselves.
"We know also that we needed to do more. We need to do more, because in spite of all of those programs we still were not doing enough," he told parliament on Wednesday.
