The stupid thing theDalek when these guys argue about the removal of negative gearing it is always in the guise that it is unfair perk of the better off - however it is available to anyone that wants to use it.
Cold hard reality is: Low income Joe average will still pay significantly less tax than high income Joe average even after taking into account losses attributed to negative gearing.
Is the tax system fair? Ans no way - the harder you work and the more you earn the more you are punished by our tax system. Is it any wonder investors look for advantages through using the likes of negative gearing? No. If the tax system was really fair everyone would be taxed at the same rate beyond a tax free threshold - high income earners would still pay more regardless.
