40 federal politicians with housing investments with no rent listed

Almost 50 per cent of our federal politicians with property investments don’t list earning rent from those properties despite Australia’s housing and rental crisis.

Questions have been raised over the properties owned by our federal MPs.

Almost two in every five federal politicians with investment properties don’t list earning rent from them despite Australia’s tight housing market.

Analysis of the federal register of interests by News Corp Network found around 40 property investors who haven’t listed rent from the properties as a source of income.

The register, which covers the financial interests of federal politicians and their immediate family, saw over 80 per cent confirm they had other income streams ranging from spouse’s wages to stock dividends, payments from family trusts, book royalties and rental income.

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Prime Minister Anthony Albanese changed his Marrickville residence to an investment and declared rental income from it after he moved into the official PM’s home in the Lodge.

But it found only 60 per cent of those who owned real estate investments declared receiving rental income on the federal register.

While some members of parliament have included income derived from rental properties in their submissions to the register, MPs are not required under the rules to divulge the precise figure.

Australia’s national politicians and their spouses or partners own over 530 homes across the country, averaging just over 2 per member or senator, and over half have investment properties, the analysis found.

Opposition Leader Peter Dutton and his son Tom at his Dayboro farm which is now his only listed property after selling off his Brisbane CBD investment unit last year.

Prime Minister Anthony Albanese’s Marrickville home – listed for rent in real estate records in January at over $1,300 a week – has been changed into an investment and named as rental income, given he is now living in the official PM’s residence.

Opposition Leader Peter Dutton had an investment property located in Brisbane CBD, which his team confirmed he sold last year. He now holds one residential property as his home.

A quarter of the political property investors who didn’t list rent as income were new to parliament, including Louise Miller-Frost, who snapped up the seat of Boothby for Labor for the first time in 73 years after resigning as CEO of St Vincent de Paul South Australia. The South Australian had the highest number of properties on that list at six – though two were residential.

Senator David Shoebridge is listed as having zero real estate.

Fellow first term parliamentarian – member for Dawson QLD Andrew Willcox had five – four as investments – none of which were noted as income sources.

Some such as Greens senator David Shoebridge showed zero real estate holdings initially, though real estate records name his spouse as owning at least two investment homes that a couple of years ago fetched over $1,000 a week in rent combined.

Nola Marino has the most properties of all federal politicians at eight – almost all of which was farmland – taking over a title once held by Clive Palmer.

The top property mogul in federal parliament so far this year – claiming a title once held by prolific property investors Clive Palmer, Barry O’Sullivan and Sam McMahon – was West Australian Liberal Nola Marino.

The member for Forrest and her spouse own eight properties according to the register – almost all of which were part of the family’s farming legacy in her hometown Harvey and nearby Myalup.

Karen Andrews, who has announced her retirement from politics at the end of the current term, is among four federal politicians with seven properties.

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Hot on her heels were newcomer Labor’s Dr Michelle Ananda-Rajah – the member for Higgins VIC, LNP’s Karen Andrews (McPherson QLD), Labor’s Brendan O’Connor (Gorton, VIC) and Liberal Daniel Tehan (Wannon VIC) – who tied at seven properties each – all of whom confirmed receiving rental income for them.

Three other politicians had six properties each: Anthony Burke (Watson, NSW), Gavin Pearce (Braddon, TAS), and Andrew Wallace (Fisher, QLD) – of which only Mr Pearce did not name rent as a substantial source of income.

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Originally published as 40 federal politicians with housing investments with no rent listed