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.
https://www.propertyobserver.com.au/forward-planning/investment-strategy/property-news-and-insights/83036-ato-negative-gearing-data.html