Union calls for super profits tax to end housing crisis
The call comes ahead of today’s campaign launch at the National Press Club in Canberra
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The Federal Government should introduce a super profits tax to solve Australia’s housing crisis, one of the country’s largest unions has said.
The CFMEU, the main union for construction workers in Australia, commissioned research from Oxford Economics Australia to investigate the viability of using a super profits tax to address the nation’s social and affordable housing shortfall. The report found Australia needed 750,700 new dwellings to close the housing gap by 2041, which could comfortably costed by taxing excess earnings of corporate giants in Australia.
National secretary of the CFMEU, Zac Smith, will launch a campaign at the National Press Club in Canberra today, called End the Housing Crisis, Tax Super Profits and has called on the Albanese Government to commit to the new tax.
“The enormous scale of Australia’s housing crisis demands bold solutions,” Mr Smith said. “A super profits tax is the fairest way to raise the billions of dollars needed to guarantee every Australian has the basic right of shelter. Oxford Economics Australia has found we can close the yawning housing gap without discouraging investment or creating distortions in the market.”
He said such a tax would not affect 99.7 percent of businesses “because the tax only kicks in when corporations make astronomical profits”.
“The Federal Government has the opportunity to define its legacy as ending homelessness, boosting productivity and lifting millions out of poverty,” he said.
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A Name Steeped in History, A Home Built for the Future. Timeless architecture, premium residences, and an exceptional Inner West location come together at Maybelle. With construction nearing completion, buyers can move into their brand-new home by the end of the year and purchase with confidence, knowing their home is backed by 10-Year Latent Defects Insurance.
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Almost a century before construction began, two sisters unknowingly inspired one of Sydney’s newest residential addresses.
Local landowner and developer John Henry Schroeder combined his daughters’ names, Isobel and May, to create Ismay Avenue, a street name that has become part of the area’s identity, still visible today in Ismay Reserve. The Maybelle borrows that story rather than inventing one. It takes its name from Isobel and May, drawing a direct line between the development and the history sitting right outside its front door.
More than simply another apartment building, it reflects a vision of creating homes that honour the past while looking confidently to the future.
Developed and built by Omaya, a family-owned company with more than 35 years of experience, The Maybelle reflects a commitment to craftsmanship, quality and creating communities that stand the test of time.
Located beside Ismay Reserve, the boutique collection of one, two and three-bedroom residences combines timeless architecture by Squillace Architects, premium interiors and exclusive resident amenities within one of Sydney’s most connected Inner West locations.
Location is one of The Maybelle’s defining strengths, residents are moments from train stations, bus services and the M4 Motorway.
Positioned just moments from North Strathfield, Bakehouse Quarter, Sydney Olympic Park, Parramatta and the Sydney CBD, residents enjoy the perfect balance of green open space, vibrant local amenity and exceptional connectivity.
Surrounded by cafés, restaurants, leading public and private schools, shopping and parklands, The Maybelle offers a lifestyle where everything is within easy reach.
Designed to embrace its unique park-side setting, many residences enjoy expansive balconies overlooking Ismay Reserve, while selected homes capture elevated views across the Sydney Harbour Bridge and city skyline.
Spacious open-plan layouts, premium fixtures and finishes, and two carefully curated interior schemes create homes that are both beautifully refined and designed for everyday living.
The lifestyle extends well beyond each apartment. Residents will enjoy exclusive access to a full-level Garden Pavilion on Level 8, featuring beautifully landscaped spaces for entertaining, recreation, remote working and gathering with family, friends and neighbours.
Complementing this is the elevated Sky Terrace on Level 14, where sweeping Sydney Harbour Bridge and city skyline views create a tranquil setting to relax, recharge and enjoy the remarkable outlook.
As both developer and builder, Omaya oversees every stage of the project – from planning through to construction – ensuring quality, accountability and meticulous attention to detail throughout.
Buyers can also purchase with confidence, knowing The Maybelle is protected by 10-Year Latent Defects Insurance, providing additional peace of mind long after settlement.
With construction nearing completion, buyers will be moving into their brand-new homes by the end of the year, offering a rare opportunity to secure a premium residence without the lengthy wait often associated with off-the-plan developments.
For those seeking more than just a new apartment, The Maybelle offers something increasingly rare – a home with an authentic story, a genuine connection to its surroundings and a lifestyle that brings together heritage, nature, connectivity and contemporary design in one exceptional address.
Now selling premium one, two and three-bedroom residences. To learn more or book a private appointment, visit www.themaybelle.com.au or call 1300 066 292.
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