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Negative gearing hurting National Party seats more

A REPORT published by the Australian Institute (April, 2015) shows National Party seats are worse off in terms of benefits to investors from negative gearing.
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The paper focused its attention on the geographic distribution of negative gearing by federal electorates.

The analysis shows that taxable income and the proportion of people undertaking negative gearing are correlated.

As the income increases so does the number of people negative gearing.

Taxable income and net rental loss are also correlated, as income rises the amount deducted because of negative gearing also rises.

The paper demonstrated that the benefit of negative gearing was concentrated on high income earners with 50 per cent of the benefit gong to the top 20 per cent of households by income, with middle income households only receiving about 40 per cent of the benefit.

Interesting also, when they looked at the spread by political party electorates, Liberal party seats on average were likely to get the largest benefit, secondly by Labor seats, but significantly behind are National party seats.

This is not surprising when you have a closer look at the average taxable income of the electorates, the Mallee unfortunately has the lowest taxable income in the country with the average income sitting on just $25,629.

The paper also looked into those electorates that benefit the least from negative gearing and the Mallee is placed in the bottom 20 of electorates with a net rental loss for investors of $5,712.

It was also interesting to note that National Party electorates are over represented in the bottom 20 with more than 50 per cent of National Party electorates in the bottom 20.

The largest beneficiaries of negative gearing are represented by government ministers, including the Prime Minister, the Treasurer and other senior ministers.

The findings of this report therefore support my earlier letter to the editor whereby I supported the Labor announcement on savings ($32 billion) that can be made through the introduction proposed negative gearing policy, which can then be used to offset Labors funding requirements for education and hospitals.

Lydia Senior,

ALP Federal Candidate Mallee

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This story Administrator ready to work first appeared on Nanjing Night Net.

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