Can tax reform really improve your life?

I just came across Ken Henry’s last speech before the findings from his Tax Review are out.  He delivered this just yesterday.  It is a bit of a heavy read, but he is quite clear and balanced in his thinking, and I quite enjoyed reading it. 

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4 Responses to “Can tax reform really improve your life?”

  1. 1 housing bubble November 5, 2009 at 9:20 am

    Abolishing negative gearing of property would certainly improve the lives of many Australians.

    I doubt it will ever happen though. As history has proven, it’s not a popular decision and by improving the quality of the younger generations and those that aren’t as well off, those that do have investment properties will suffer a slightly decreased standard of living (which is usually quite high anyway).

  2. 2 Peter January 27, 2010 at 8:53 am

    If negative gearing was disallowed then the amount of houses available for rent would rapidly decrease. I can’t see how this would improve the lives of any Australians.

  3. 4 Akinola Adisa February 5, 2010 at 7:04 am

    I agree with Peter. How can abolition of negative gearing improve the lives of Australians (or do you mean some Australians)? What is being proposed as a replacement to cushion the negative impact for people who has taken the risk of investing in the property market? What inducement would there be then for investors to keep buying, for instance, rental properties and thus keep the rent price down? Overall, I think that decision will hurt renters badly. If negative gearing is abolished, I personally will have to quit my preseent job, move back to Victoria where my house is and quit the tenant living in it right now. Imagine what will happen if a significant number of home owners take this same step throughout Australia in a short space of time.

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Deven Billimoria
Chief Executive Officer

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