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gmt

7,987 Posts.

133

17/11/17

13:11

Post #: 28892123
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Originally posted by kenalex ↑

I see some merits in capping negative gearing. The profession with the highest percentage of negative geared properties are Anaesthetists and surgeons at 29% each compared to teachers at 12% and they also claim more than 10 times the amount than teachers (as an example).
The cost of negative gearing and CGT halving cost the government 11.5 billion yearly according to the Grattan Institute.
This is why I support restrictions to the current negative and CGT policies put in place because tax payers money is being diverted to the less needy investors.
As an real example, my friend's parent sold a house at 7.6 million plus which was negatively geared as an investment. Do you think he needs similar support from the government as to someone who bought a 450k investment?
I think that common sense should prevail...

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No doubt your friends parent paid significant capital gains tax and has had to pay significant state government land tax. Good luck to them for taking the initial risk.
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