Tax concessions for housing investors to cost $20bn a year within a decade, analysis shows

The Greens have called for Labor to scrap the ‘unfair’ negative gearing and capital gains tax concessions as first home buyers struggle to enter the housing market. Photograph: Paul Miller/AAP

Tax concessions for housing investors will cost the budget more than $20bn a year within a decade and will overwhelmingly benefit high income earners, new analysis from the parliamentary budget office (PBO) shows.

The dramatic increase in the cost of the tax concessions comes alongside the rapid rise in interest rates, which will increase the amount landlords can deduct for negatively geared properties.