According to economist Ken Henry, deductions in the rental property sector now exceed income, making it not a net taxpayer. And in any case, a tax should be based on equity and unless you’re talking through your pocket, everyone knows that negative gearing is a rort, one that seriously and unfairly impacts young people.
Surely if the Liberal Party is being fair dinkum about cost-of-living pressures then Dutton and Taylor should be calling for the stage three tax cuts to be dropped. If they remain mute, they bear the responsibility for any cost of living and inflationary pressures that occur.
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