Lab Housing Policy and Negative Gearing, page-35

I think you'll find that those that negatively gear do so for the majority of the time they own the investment property.
In fact a lot of people draw down equity in an investment property to buy more & that maintains the loss making position.
These are properties that typically aren't held until the mortgage is paid off.

Reduce your income tax for every year you own the property & then get a 50% discount on the gain when you sell it is ridiculous,