i'm all for removing negative gearing - if the income i earn...

i'm all for removing negative gearing - if the income i earn from my positively geared properties are no longer taxed.

The reason for this is that one of the overarching concepts of our taxation regime is that if the income is assessable then expenses in respect of that income are deductible. Change this and concepts of equity and mutuality go out the window. So if i dont get a deduction because i'b be making a loss - why should i pay tax if im making a profit?

As for discount capital gains - this was introduced because indexation of cost bases was removed. It's not a 'gift' or a free hit. It acknowledges that inflation impacts assets and provides a simpler way to account for it than indexing cost bases.

glta