The old argument of 'our kids can't afford' etc, has been going on forever. My mother said they worried about that in the '60's so most of you guys can't remember that. Price adjusts to supply and demand. Over here in Perth, Landlords struggle to get tenants and prices have dropped considerably.
CGT is bad news. Capital gains are a simple hedge against inflation. Why should something be taxed when you haven't gained anything in real terms. Even if you have, it was your risk and your money. It's deserved.
Negative gearing. What's wrong with that? You make a loss on a rental, it's a loss just like in a business. A rental property is a business. When it turns positive, you pay tax.
Yes, the higher income earners get more of a tax deduction because they pay more goddamned tax in the first place.
Who is to say that money isn't best kept in the hands of those that have earned it. It's often spent on taking financial self responsibility in our old age, paying for degrees and training in following generations and helping out with family that need it. At least that is what happens in my family.
We don't need more tax, we need less snouts in the trough.
