I don't disagree with NG restrictions, but I actually prefer the quarantining of deductions until such a time as the asset has a tax liability.
I also think there should be a limit to how much you can reduce your income.
e.g. there should be no way a CEO on $4m can reduce their income to $180k.
As for CGT, I don't agree. I think the government taking full whack on capital gains is criminal.