Teachers at the forefront of Australia’s negative gearers: ATO data

New data confirms two-thirds of investors who negatively geared property were on taxable incomes of less than $80,000 a year.

The latest tax office data suggests Labor’s policy to amend the widely used property purchasing practice would mostly hit more lower-income earners with only one investment property, according to Treasury analysis of the 2015-16 tax records published in The Australian.

The statistics also included figures on the number and occupations of people affected by Labor’s $20bn plan to scrap negative gearing after the next election on any new purchases of established properties, showing 62 per cent were on taxable incomes of under $80,000 a year.