negative gearing is a concession granted by the govt because it is contrary to the principles of taxation law
under taxation law, one can only claim a revenue deduction for the purpose of earning assessable income
however, as a negatively geared property cannot earn a profit, it can only be determined the purpose of the negative gearing for capital gain
therefore, under taxation principles, it is correct that the interest expense on an investment rental property be included in the CGT cost base
however, the govt has decided to give a special concession for negative gearing
this is why negative gearing is not allowable in many countries
it is contrary to taxation law & principles
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- they missed out negative gearing
they missed out negative gearing, page-5
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