Negative gearing should have the right balance in encouraging first home buyers to invest in housing to a degree while discouraging over speculation or abuses of tax minimization especially amongst the wealthiest (the top 10% claims more benefits that the bottom 60%). It has to move to a more restricted path of sustainability where than extra money can be invested to a more productive and beneficial part of the economy. It has to be remodeled to benefit the average investor, not the super rich.
Hmmm what will be the consequences of abolishing CGT completely?
Food for thought on a Friday afternoon beer in the city....
Have a great week-end...
