It appears that there are a lot of false assumptions about the users of this tax vehicle
Reading the threads being published by most the false assumptions being made is that it is a tax vehicle that only assist the rich end of the populace.
It's almost as if the rhetoric has a hidden socialist agenda to it
Some interesting facts
91% of people using negative gearing earn less than $80,000 per annum hardly real estate barons
The composition of the users is as follows
Emergency service workers. 12315
Teachers and child care workers 61500
Cleaners and house keepers 6940
Clerical staff 83280
Hospitality Trades 21555
Hair dressers 1645
Sales assistant 46450
Transport workers 15525
Trades 34395......etc
Now I can't see the above as being filthy rich if anything it appear that the majority of users on negative gearing are actually hard working individuals or families that are trying to get ahead and not burden the Australian economy by putting in place a strategy to avoid the the pension
The above figures are for the 2011-2012 stats looking at some of the more up date stats the number have nearly doubled
How pathetic that we have people with hidden political agenda talking about a topic that actually so many hard working Australian participate in, to try get ahead and not burden the Australian economy
It seems to me that the current system is actually working and requires a more effective way to educate those who are not participating to understand the advantages and start participating
