it doesn't need to be abolished, just tweaked:
- keep negative gearing the same for all existing properties
- allow it to continue for new dwellings where construction starts after a defined date (to promote housing supply)
- quarantine losses on any existing dwellings purchased so it can only be offset against future rental income on similar dwellings (even uplift the losses by CPI if you are concerned with the time value of money)
would have thought the above would be fairly simple to implement.. sure any existing negative gearers who want to expand their property empire might be a bit put out, but they can still build new homes if they so wish
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- 'it's time to abolish negative gearing'
it doesn't need to be abolished, just tweaked:- keep negative...
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