Western Sydney University experts available on Federal Budget measures

Western Sydney University experts are available to comment on the Federal Budget, including housing affordability and supply, infrastructure investment, taxation and property market impacts, and the behavioural effects of ongoing cost-of-living pressures on Australian households.

Dr Amanda Craft, School of Business

Dr Amanda Craft is an Australian academic specialising in financial decision making, with a focus on personal finance and the cultural influences shaping how individuals and families engage with money. Her expertise spans accounting and behavioural finance, with a particular interest in how values, identity, and social context influence financial choices. Her work sits at the intersection of finance, psychology and culture, examining decision making under pressure during economic uncertainty, market volatility and life transitions, and how cognitive biases and cultural norms shape behaviour.

“One of the biggest behavioural finance lessons is that delayed relief rarely feels like real relief. A tax offset next year does not change how stressed families feel at the supermarket this week.”

“Consumers are no longer asking ‘Am I better off?’. They’re asking, ‘Can I survive another shock?’.”

“Financial stress changes how people think. Under pressure, people become more short-term focused, more loss averse, and more cautious, even when incentives improve.”

“Economic confidence is partly emotional. If households remain psychologically exhausted, consumer behaviour may stay subdued regardless of headline budget wins.”

Associate Professor Michelle Cull, School of Business

Associate Professor Michelle Cull is a leading academic in financial planning, with her research focusing on financial planning education, ethics in financial advice and financial inclusion. Michelle is co-editor of the Financial Planning Research Journal, Executive Vice President of the Academy of Financial Services in the United States, and member of Australia’s Financial Planning Education Council. Michelle led the development of the Personal Finance Basics microcredential and WalletSmart App, and co-founded the Western Sydney University Tax Clinic.

“Changes to capital gains tax (CGT) legislation will not only impact investment property but also other investment assets, such as shares, gold, cryptocurrency, personal use assets and collectibles. Surprisingly, hidden in the budget papers we find that assets acquired prior to September 1985 will for the first time be subject to CGT under the proposed changes.  These CGT changes will impact on investors as well as beneficiaries of these assets.”

“In terms of changes to negative gearing, by allowing current residential property investors to be grandfathered, the impact on rental increases will be minimised but increases are likely to occur nonetheless. This may affect potential first home buyers who are trapped in the cycle of paying higher rents and having less of their income available to save for a home deposit. Potential first homebuyers often also invest their savings in shares as a means of growing their funds available for a home deposit and will now have less of these investment funds available for a home deposit after paying additional CGT under the new changes. On the other hand, the changes may slightly dampen the housing market for established homes, potentially slowing the increase in property prices which may benefit first home buyers.”

“The tax changes announced in the budget are going to raise many questions for a range of taxpayers, including first home buyers, investors, pre-retirees, self-funded retirees and beneficiaries of inherited assets. This is going to place additional pressure on accountants and financial advisers who are already in limited supply in Australia. It would be good to see more being done by the Government in terms of incentives to encourage more people to study accounting and financial planning to ensure everyday taxpayers are able to access the advice they need.”

Professor Nicky Morrison, co-Director, Urban Transformations Research Centre

Professor Nicky Morrison is the co-Director of the Urban Transformations Research Centre at Western Sydney University. She specialises in infrastructure funding, housing delivery, and climate resilience, working closely with government and industry to translate policy into implementation.

“The $2 billion Local Infrastructure Fund is a significant recognition that housing delivery depends on enabling infrastructure, not simply housing targets alone.”

“The focus on ‘boring but essential’ infrastructure reflects a growing acknowledgement that utilities, servicing and infrastructure sequencing are now major constraints on housing supply in fast-growing regions.”

“The next challenge will be ensuring infrastructure investment is integrated and long-term — including transport, utilities and green infrastructure — so growth is not only accelerated, but also resilient, liveable and economically productive.”

Dr Ehsan Noroozinejad, Senior Researcher and Global Challenge Lead, Urban Transformations Research Centre

Dr Ehsan Noroozinejad is a senior researcher and housing, construction and resilience expert at Western Sydney University’s Urban Transformations Research Centre. His work focuses on practical solutions to Australia’s housing challenges, including modern methods of construction, prefabricated and modular housing, net-zero development, resilient infrastructure, and urban policy reform. He is also the Coordinator of the NSW Affordable Housing Network, and works closely with government, councils, industry and media on housing affordability, construction innovation and sustainable cities.

“The Budget recognises that housing is not just about grants or targets. It links housing supply with tax reform, infrastructure and delivery capacity. That is the right direction, but the real test is whether homes are built faster.”

“Changing negative gearing to favour new builds is a serious signal that housing investment should create homes, not just compete for existing ones. But tax reform will fail if planning, infrastructure and construction remain too slow.”

“The infrastructure funding is practical because homes need roads, water, power and sewerage before they can be built. Housing policy must move beyond announcements and focus on the systems that actually unlock supply.”

Associate Professor Emma Power, School of Social Science

Associate Professor Power’s research envisions a world of more caring and just cities, investigating how the capacity of people to meet their needs for care and to live a good life can be better supported within cities and through the broader housing and welfare systems. My work is motivated by an interest in what makes cities liveable and is driven with concerns about the implications of growing urban and housing inequity, the residualisation of social welfare systems in western liberal welfare states and urban liveability in changing climates.

“The budget signals a significant shift in housing taxation, with changes designed to redirect investment toward new housing supply. This change is welcome and long overdue. In Western Sydney, it could help ease some pressure on first-home buyers competing with investors for relatively affordable homes.”

“Significantly, however, the budget includes no major new investment in social housing and no clear commitment to linking new infrastructure funding with affordable housing delivery. The risk is that public funding supports housing development without making sure that lower- and middle-income households can actually access affordable homes in these communities.”

“The challenge is not just about building more housing it is about building liveable, inclusive communities.”

To arrange an interview, please email media@westernsydney.edu.au.

ENDS.

13 May 2026
Media Unit