Calls to cease negative gearing have been dismissed by the Real Estate Institute of New South Wales.
REINSW President John Cunningham said removing negative gearing from existing properties will not solve the supply problem.
“The abolition of negative gearing will push investment dollars out of property and into other areas of the economy that do not give the consequential social benefits that property provides,” Mr Cunningham said.
“The removal of negative gearing would deny an allowable tax deduction that all other entities that are in the pursuit of taxable income receive. It is time for government to stop treating property unequally.
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