Thats a relief thought you must have been some crazy fanatic. I will defend negative gearing. In business there are all sorts of taxes and tax breaks. You must treat investment property as a business, you are providing accomadation. What about stamp duty, I give the government the price of a new car for stamping a bit of paper. Payroll tax, I pay tax for employing somebody. Land tax. The state provides exactly the same services to every house in the street but if it's a rental you pay land tax. Negative gearing, depreciation and other breaks exist to encourage development and business. Take them away and see if the Federal or State governments will provide rentals. The waiting list at Homeswest is 2 4 years and most of them are dumps.
