24th August 2014: Negative gearing removal a ‘disaster’

The proposed restraints on negative gearing for residential property are likely to be the most significant change to the tax treatment of property in over a decade. If passed, the proposed changes will prevent investors claiming new gearing benefits for already established property with the aim of directing investors towards new housing.

Fletchers Director, Christopher Steer, was recently quoted in Residential Property Manager explaining the importance of negative gearing for both the property market and Australian families. Christopher firmly believes that the 1985 abolition of negative gearing was one of the "worst blunders in Australian political and social history" and repeating the process and expecting a different result is "proving Einstein's definition of insanity correct".

Read the article here