…that all of a sudden, everyone seems to be talking about plans to axe negative gearing and halve capital gains tax concessions for investors, and that some people think this is just a great idea to punish “the rich” who benefit from it?
Doesn’t it strike you as strange that those in favour of abolishing negative gearing claim this will help fix the federal budget, when savings to the government will be in the order of $3.4-$3.9 billion – just 8% of the budget deficit?
Doesn’t it strike you as strange that despite claims negative gearing is a tax rort mostly used (and abused) by “the rich,” just 22.4% of those with negatively geared property earn more than $100,000 per year?
And most importantly, doesn’t it strike you as strange that outside the political world and those directly connected to it, not one prominent organisation in the country is campaigning for negative gearing to be abolished?
We offer no opinion or directive on political matters, but we do want Australians to know that if this proposal is implemented in its current form, its consequences will be dire.
Negative gearing affects everyone. Why risk so much right now?
Authorised by Jock Kreitals, 16 Thesiger Court, Deakin ACT 2600
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