How negative gearing replaced the great Australian dream and distorted the economy | Greg Jericho | Business | The Guardian
An excellent, clear bit of explanation from Greg Jericho on the investment distorting effect of our current negative gearing/CGT system in Australia.
It's pretty appalling, really, that once again, political games prevents politicians (I'm looking at you, Malcolm Turnbull) speaking honestly about an economic issue. (It's going to do the same to him on climate change policy, too.) This is why people become cynical about politics.
negative gearing combined with only half the CGT means it is all property speculation. People are punting on higher prices and not interested in rental yields
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