You need to look at the housing speculation,and the negative gearing attached to it,all the "wealth creation mobs"are peddling it,save $9,600 off your taxes.
Housing speculation? I think you're crazy to speculate short-term on property. Property is generally a long-term investment. The fees, stamp duty, agent fees etc etc makes property a very risky short-term investment. The 50% CGT reduction was mainly brought in to reduce speculating on the stock market.
I tend to agree though, negative gearing is too generous, however, it doesn't put more money in your pocket in the short-term, you are making claims against losses in your investment ie interest. The real winners out of negative gearing are banks. Personally I wouldn't be fussed if negative gearing was abolished. However I am sure it would have a significant effect on those who have saved hard all their lives to buy and pay off a house as it would have a pretty direct impact on property prices. If negative gearing was to be phased out it would have to be gradually. It would be a brave party to put the abolishment of negative gearing on the table.
