Labor's spokesman on negative gearing, has been shown to have 3 investment properties valued in the $ms, which also happen to be negatively geared.

Moreover, these were only uncovered when he was asked why he didn't live in Batman. When asked why he didn't live in his $2.3m house, he said it was being renovated, but there were tenants in it. Asked if it was negatively geared, he couldn't remember (it is). Asked why it wasn't on the role of assets, he said he was so busy he didn't remember. Later it turned up that he had other houses that also didn't appear, one of which he uses whilst in Canberra and charges the commonwealth $270 p.d. for living out allowance.

What was Shorten's response? A slap on the wrist.

At least now Labor's Negative gearing policy is in tatters.

"At least now Labor's Negative gearing policy is in tatters."

How so?

Just because some Labor bozo does gets caught out not declaring and also doing a Hockey and using his travel allowance to pay off his wife's mortgage, it doesn't negate the argument against negative gearing.

I mean it's not as if pollies don't have bad memories.

From 20120...

"LABOR has questioned whether Tony Abbott could manage the Australian economy after he failed to declare a new $710,000 mortgage on his family home.

The Opposition Leader took out the mortgage after losing his ministerial salary when the Howard government was ousted, to help cover living costs including private school fees for two of his three daughters.

But he failed to declare it until about two weeks ago - almost two years after taking out the loan.

Small Business Minister Craig Emerson told 2UE radio this morning he thought the failure to declare was “probably a genuine oversight, but it's a bloody big oversight”"

http://www.theaustralian.com.au/archive/politics/failure-to-declare-mortgage-has-tony-abbott-under-new-loan-stress/story-e6frgczf-1225883125818

Yes well, what can I say.

If you renovate a property, while either rented, or intended to be rented, the repairs/improvements are all tax deductable, albeit in differing ways, but they are still deductable.

So you buy a home, renovate while renting, then move in latter having written some of the debts off. Very clever, but not how a minister against a system should act.

Economic mismanagement from Labour/Greens was on total display from 2007 -2013. One does not need another dishonest Labour politician to prove this.

Feney said NG costs each taxpayer $310 p.a.

He's stupid or lying. Provided the basic taxation principle exists that operating losses are deductible, be it from paid work or future profits, taxpayers are unaffected.

There is no "concession" amount and there is no "subsidizing" in negative gearing. These are lies of arithmetic and deceit.

If Poirot and Labor want to remove the taxation principle, just bl00dy well come out and say it and we can get on with a proper civil war instead of this class war concocted to pit the 50% nett recipients (welfare minus tax) against the 50% net contributors.