Let’s keep that chewing gum money. Please forgive us, Dr Cullen, and don’t take away our chewing gum tax cut! I know some of us have been scathing about it. As you said recently, “I have noted that people have said they don’t really think it’s worth having. If people say that, then of course they may find their wish has been granted. Be careful what you ask for, or you may get it.”
Views on negative gearing are poles apart. Negative gearing is like the death penalty. People feel strongly both ways about it, judging by reactions to my last column. In that column, I wrote that negative gearing — which occurs when a landlord makes year-by-year cash losses on a mortgaged property — is becoming more common. This is mainly because rents haven’t risen nearly as fast as house prices.