henry urges wider profits tax, page-17

Hahah it's like some kind of bad joke. Let's tax the most efficient business models that turn a solid profit, and indirectly give the inefficient ones a concession. Way to encourage sloppy business practices. All the while, what is it, $2 billion dollars sapped from taxpayers for negative gearing, encouraging a non income producing investment class. Even worse encouraging speculation in an asset class that increases business costs without providing any tangible benefit, essentially reducing the cost competitiveness of Australia. To be fair Henry wants negative gearing addressed as well though..