As debate rages approximately scrapping investor benefits,the scheme has created an unsustainable housing market and the problems are coming home to roost The debate on negative gearing is heating up in Canberra as Labor seeks to change policy on the most sensitive of tax issues. In the mix of this discussion is a handful of powerful lobbyists such as the Property Council of Australia (former employee: Scott Morrison) and the Housing Industry organization, who are warning that house prices and rents will rise if there is an end to negative gearing. Related: Negative gearing sidles into positive territory in Coalition's 'open intellect' Continue reading...
Source: theguardian.com