Cuts to negative gearing will hurt all

Housing has never been a level playing field, Mr Shorten. The homeless, our regional and remote residents and the poor, are challenged daily with a lack of availability of rental accommodation.

Go after the big corporations and the overseas companies, which pay little or no tax, not those who invest in housing in Australia.

Under the Coalition Government of the Costello and Howard years, Australia was blessed with wise fiscal management and prosperity.

This is when negative gearing was encouraged as a legitimate road to retirement.

Then came the Labor years, where the surplus disappeared in a matter of months, brought Australia to its knees, overspending recklessly, huge borrowing and a black hole of a budget deficit now haunting successive governments.

The interest rate bill alone is one billion dollars a month.

So investors, who negative gear their properties, are building their superannuation retirement income as real estate, countering the housing shortfall which successive governments don't address, especially public housing.

They will rely not on the welfare system, but on their own funds for retirement. Labor can't have it both ways.

The sales taxes, GST and ongoing costs of owning a rental property is a deterrent many must carry.

E. ROWE, Marcoola

 

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