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thanks for the corrections boomer.happy to admit my...

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Scott th Ratbag

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23/04/24

14:52

Post #: 73478155
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Originally posted by boomeronrations: ↑

I am afraid that google , or was it bing , has led you astray Rattie.
Negative gearing was abolished for a short period of time by Hawke/Keating
Then Labor bottled it because rents went up in western Sydney , mainly , which threatened a few marginals , and probably unrelated to the change.
They then just went back to the previous system which had been there for decades.
But at least they had a realistic cgt system in place after that.

Your plan above would not make much of a dent in the amount of properties negatively geared, and there are better ways of increasing housing supply and retirement incomes than pumping money , yet again , into the profits of the housing sector.
You still have the problem of people investing in old houses , neutrally geared , because cgt is 50% of tax on income from elswhere.
cheers

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thanks for the corrections boomer.

happy to admit my understanding is limited. there is a real need to reassess the NG and CGT to relate better to current conditions. maybe this will rate a mention in the coming election though I doubt it. Shorten tried this and was shot down in the inflammatory distortions of Morrison.
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