Belly,
Labor agree wit you on that, and have promised to disallow new negative gearing on existing housing.

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individual,

>The rest of us aren't allowed to do it, yet we are expected to manage
Firstly the rest of us ARE allowed do it. Secondly you appear to be wrongly assuming that I'm benefitting from negative gearing.

>If us normal citizens operated like that we'd starve, that's why we always stop spending when we run short & make an effort of putting it back in !
That's because us normal citizens don't have unlimited credit like the nation does, aren't immortal like the nation is, will probably need to retire like the nation won't, and don't have their income dependant on how much they spend like the nation does.

>Oh, if only politicians could be that sensible.
What is sensible for individuals can be catastrophic for nations.

>That's what we are all drawing attention to, they're not managing !
Indeed they're not, but you oppose the policies by which they could.

Some times truth can be confronting, no political party men ever had or ever will have can please every one, not one of them go even near to always getting it right, as in all things the best we can hope for is the better one rules, some times,they face a task we would shrink from, pleasing as many as they can, while understanding others may hate them. even this issue, partly reforming welfare and maybe aid, by giving a job to those in need, even with its side benefit of community improvement, suffers because some see no good in it, yet we constantly call for better government and improvement?

Firstly the rest of us ARE allowed do it.
Aidan,
That's news to me because when I lost close to a hundred grand in consecutive robberies my tax agent told me there's no way I can claim the loss.

The whole process is made up of so much deliberate artificial complexity with absolutely not an ounce of moral basis that it is no wonder that the greedy fleece the system & don't want it to change.
I'll stick with my simplistic earn a Dollar-pay 20 cents tax.

individual,
I'm not an expert in tax law (nor any kind of lawyer or accountant) but that doesn't sound right to me. I suggest you get a second opinion.

Yes can not see how you could ever not be able to claim for such a loss

Well, as I said the Tax agent siad there's no way & when I asked a Magistrate he just shrugged his shoulders & walked away. Terry O'Gorman from Civil Libertarians said'sorry mate, we're batting for the other team". (exact words)