Comments on: Can tax reform really improve your life?

By: Akinola Adisa

Akinola Adisa — Thu, 04 Feb 2010 21:04:05 +0000

I agree with Peter. How can abolition of negative gearing improve the lives of Australians (or do you mean some Australians)? What is being proposed as a replacement to cushion the negative impact for people who has taken the risk of investing in the property market? What inducement would there be then for investors to keep buying, for instance, rental properties and thus keep the rent price down? Overall, I think that decision will hurt renters badly. If negative gearing is abolished, I personally will have to quit my preseent job, move back to Victoria where my house is and quit the tenant living in it right now. Imagine what will happen if a significant number of home owners take this same step throughout Australia in a short space of time.

By: r0dman

r0dman — Wed, 27 Jan 2010 03:01:46 +0000

That’s right. Property values would fall and more Australians could afford to buy their own house.

By: Peter

Peter — Tue, 26 Jan 2010 22:53:44 +0000

If negative gearing was disallowed then the amount of houses available for rent would rapidly decrease. I can’t see how this would improve the lives of any Australians.

By: housing bubble

housing bubble — Wed, 04 Nov 2009 23:20:41 +0000

Abolishing negative gearing of property would certainly improve the lives of many Australians.

I doubt it will ever happen though. As history has proven, it’s not a popular decision and by improving the quality of the younger generations and those that aren’t as well off, those that do have investment properties will suffer a slightly decreased standard of living (which is usually quite high anyway).