Report finds negative gearing primarily benefits the wealthy and the government could raise $5.3bn a year by reducing excesses in system The government’s dire warnings that rents will soar and property prices will crash whether negative gearing and the capital gains tax discount are wound back are not supported by the facts,a Grattan Institute report has found.
And the government’s claim that “mum and dad investors” were the biggest beneficiaries of current policy settings was also mistaken, the paper said.
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Source: theguardian.com