Despite critics of negative gearing claiming that scrapping the scheme would save the government $5 billion in one year and free up housing, a wealth advisory firm has painted a much bleaker picture of what would happen if the mechanism was removed. Chan & Naylor, a national accounting and wealth advisory group, this week said that removing negative gearing would cause market consolidation and rental increases of 50 per cent plus – which in turn would lead to wider economic uncertainty and social dislocation. buyaustralianproperties.au
Posted on: Sat, 06 Dec 2014 06:00:00 +0000