While the kids have a whinge about 10 billion cost "property welfare" I thought I'd give you some real fair dinkum data to crunch.
You will see the totals at all levels of government which covers local state and federal taxes that property people inject 33B (paid taxes) into the economy every year.
Remove neg gearing, or tax foreign investors or whatever you can dream up to kill off the property market, then a black hole gaping open somewhat to 33 billion dollars will have to be shared equally no matter your persuasion of asset class.
At least the way it is now is the property investment schemes channel the dollars directly out of property people's pockets and not any innocent bystanders that want nothing to do with property.
The government that kills property market will have to find ten of billions of dollars to replace the lost revenues. I wouldn't wish that upon any government, in fact I'd go as far as saying it aint gonna happen.
