Lessons from the USA: tax incentives to encourage long-term investment in the low-income housing market
Tax incentive schemes such as the Low Income Housing Tax Credits (LIHTC) program in the US create incentives to develop affordable housing by offering developers annual taxation subsidies for a given period of time on the condition that the dwelling meets the affordability require
Enabling people who are experiencing or have experienced a severe mental health disorder to access or remain in private housing is a benefit for all the community. However, research finds that only 27 per cent of people with a mental illness own or are buying their own home, which compares poorly with 70 per cent of the general Australian population who own or are buying their own home.
Many people who have been hospitalised as a result of a severe mental health disorder face a significant risk of becoming homeless when they are discharged.
People who are experiencing a range of mental health issues can live comfortably and safely in many different forms of housing tenure, including the private rental sector. However due to their medical situation they may need extra forms of support from real estate professionals to maintain tenancies.
Every year, 1 in 5 adult (around 20%) Australians are estimated to experience mental ill health (equating to about 5 million Australians in 2020-21). AIHW data reveals that 4.5 million patients (17.7% of the Australian population) filled a prescription for a mental health-related medication in 2020–21.