Wealthy Australians heaviest users of negative gearing

By Leith van Onselen

The Grattan Institute’s Danielle Wood says she is not surprised by tax office data regarding negative gearing losses. The data reveals that the highest average losses are occurring in postcodes with the highest incomes, with Wood noting that those on higher incomes tend to be the keenest users of negative gearing. From The Australian:

Property investors in some of Australia’s wealthiest suburbs are racking up negative gearing losses that average more than $20,000 a year, new taxation ­office figures show.