And if you do that rents go through the roof and property prices plummet, sure you bash a few "rich people" but the people that are renting aren't usually rich and ultimately those are the ones that will suffer. Landlords aren't charities and if they can't negatively gear they need to make a profit so rent has to go up.
Labor won't go there.
Evidence suggests otherwise.
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Removing negative gearing would have little effect on rents: Philip Soos
More negative gearing scaremongering | | MacroBusiness