Tax concessions for housing investors to cost $20bn a year within a decade, analysis shows

Parliamentary budget office report shows high income earners will benefit most from negative gearing and capital gains tax concessions

• Get our morning and afternoon news emails, free app or daily news podcast

Tax concessions for housing investors will cost the budget more than $20bn a year within a decade and will overwhelmingly benefit high income earners, new analysis from the parliamentary budget office (PBO) shows.

The dramatic increase in the cost of the tax concessions comes alongside the rapid rise in interest rates, which will increase the amount landlords can deduct for negatively geared properties.

Sign up for our free morning and afternoon email newsletters from Guardian Australia for your daily news roundup