
- Apr 23, 2016
- 36,969
- 54,348
- AFL Club
- Essendon
70% of the population earns $500k and reduces it down to $80k?
It's not possible in current lending laws.
That article wasn't 70% of the population.
It shows that a lot of younger people, with investment properties, run then at a loss of some level (or did in 2012), but not necessarily the cost of that loss to the taxpayer.
This is a more recent article that raises a few things, among those whether we should be incentivising housing as an investment option (IMO we shouldn't).

Negative gearing and capital gains tax discount driving up house prices
Restricting negative gearing and scrapping the capital gains tax discount would make housing more affordable and increase home ownership rates, the
The benefits of these tax concessions are shared unequally, with more than two thirds of the concessions going to the top 10% of income earners, while the bottom half of taxpayers get less than one tenth of the concessions.