agree, negative gearing and cgt rate are 2 of the biggest...

agree, negative gearing and cgt rate are 2 of the biggest reasons that incentivise people to invest in multiple properties. There is 1 guy in Sydney who owns over 5000 properties. They need to get rid of this ridiculous tax concession and increase cgt on selling property. This will have significant downward pressure on house prices. Everyone knows it but don't want their nest egg to lose value. So... why don't they just tax those that own, say 3 or more properties? That will affect a way lower number of people.