Some 750k new social and affordable homes could be funded by a super profits tax, says the CFMEU. (Joel Carrett/AAP PHOTOS)
SUPER PROFITS TAX FOR SOCIAL HOUSING
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* The CFMEU has proposed a super profits tax on companies to finance 750,000 social and affordable homes
* It's estimated closing the housing gap would cost $511 billion, which would be covered by the tax revenues
* The profits tax would apply to 0.3 per cent of companies in Australia
* Research commissioned by the union showed the government's proposed Housing Australia Future Fund would not meet the number of homes needed
* The public housing need has increased by 114,000 dwellings since 2014
*The gap consists of a shortfall of 190,000 social dwellings and 559,000 affordable homes
Australian Associated Press
