Negative gearing and the capital gains tax discount were either meant to improve affordability and failed – or their purpose was in fact the opposite
‘Have the 24 years of the capital gains tax discount and negative gearing led to better housing affordability? Clearly not.’‘Have the 24 years of the capital gains tax discount and negative gearing led to better housing affordability? Clearly not.’
Take, for example, industrial relations. Have IR policies over the past 25 years improved productivity? After all, we hear it said all the time that this is the aim.And yet, since the creation of the Productivity Commission 26 years ago, we have had a mass of things business groups dreamed about and told us would improve productivity – ever more flexibility, lower income tax, lower wage growth, less industrial action and much less union power.
Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup And it was a gamechanger for negative gearing, which had been around forever but which was not all that worthwhile.
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