Over and above whether negative gearing or capital gains tax benefit the wealthy (they effect) the real issue is what the tax policy has done to the economyUsually pre-budget leaks are all about giving people snippets of what will be contained in the treasurer’s budget speech; this year,perhaps in keeping with the odd timing of the budget, the biggest leak has been about what will not be included – namely changes to capital gains tax or negative gearing. The government’s overarching housing policy narrative is about aspiration – that we all want to get ahead and whether we are not negative gearing now, and we all aspire to effect it one day. Essentially it is the replacement of the much Australian dream. Continue reading...
Source: theguardian.com