This project (Apr 2019-Oct 2020) reviews the operation of Australia’s Commonwealth Rent Assistance (CRA) program as it compares with housing allowance systems functioning in comparator countries. It examines how CRA could be reformed in cost-effective ways to improve affordability, security and choice by low-income renters. Specifically, it analyses the efficiency, effectiveness and distributional outcomes of three possible CRA reform options. It also estimates the extent to which any increase in CRA might be ‘capitalised’ into higher rents.