Negative gearing is the practice of using losses on property investments to reduce taxable income. In 2013, approximately 1.3 million Australians used the concession. Data shows that high income earners write off much larger percentages of their taxes than those who earn lower wages. In 2012, surgeons wrote off $4,161 of their taxes using negative gearing while teachers wrote off $327. Proponents, including Malcolm Turnbull, argue that the practice has been part of Australian tax law since 1915 and is not a tax break since the real estate investor is taking a loss to their assets. Opponents argue that the policy disproportionately benefits Australians in high-paying occupations, not those of average incomes, since they are much more likely to own investment properties.
Statistics are shown for this demographic
Response rates from 3k Melbourne voters.
54% Yes |
46% No |
42% Yes |
38% No |
9% Yes, this concession disproportionately benefits the rich |
8% No, but limit to one house per person |
3% Yes, the government will save over $4 billion per year in lost taxes |
Trend of support over time for each answer from 3k Melbourne voters.
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Trend of how important this issue is for 3k Melbourne voters.
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Unique answers from Melbourne voters whose views went beyond the provided options.
@4TC4JQ64yrs4Y
Houses should be communally owned and used for human consumption and not profit
@B2JR3RV4wks4W
No, negative gearing needs to be progressive. After a certain income level, the option of negative gearing needs to be removed.
@9K8TZN212mos12MO
No, but implement a rate of diminishing returns to allow new beneficiaries into the market but limit and existing investors and place a hard cap (of 10 for example).
@9G37XJT1yr1Y
The Government should provide compensation for house owners that are struggling to make payments to counter-act negative gearing.
@92SZ42J3yrs3Y
People should be encouraged to have investment properties in order to ensure there is sufficient affordable housing.
@8ZRGZXZ3yrs3Y
No it shouldn’t be banned, but it needs to be regulated
@8XDTV6N3yrs3Y
Just found out about what negative gearing is so I do not yet have an opinion on this
@8VC6KG43yrs3Y
No, but limit to interest earned
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