Turnbull, Bishop, Hockey, Abbott electorates – top negative gearers

While a large number of people take advantage of negative gearing for residential investment properties in Australia, the majority of the benefits, in dollar terms, are more narrowly focused. 

A paper released yesterday by The Australia Institute showed how the benefit of negative gearing was distributed by income and aged groups. Today TAI released data showing the geographic distribution of negative gearing by federal electorates.

“Negative gearing, together with capital gains tax discounts, cost the budget $7.7 billion a year,” TAI Senior Economist, Matt Grudnoff said.

These policies are effecting the decisions of investors, and our study showed that over 2/3rds (67%) of the benefits go to the top 20% of income earners.

“The data shows that the most senior members of the Government are elected by some of the biggest beneficiaries of what has become an expensive tax concession.”

See attachment below for full press release with Tables.

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