Gemma Mitchell

And then you generally get a big tax return.

injection back that you can help smooth out the cost of that.

So that has been a pillar of wealth building for Australians for a long time.

Now, interestingly, the negative gearing that they are proposing will be grandfathered on existing, but it's only for properties that they're getting rid of it.

So it's still going to be for shares.

What they've proposed is still shares and other asset classes.

It's just property that they're seeing this big tax opportunity that they want to kind of do that reform there.

Yeah.

Yeah, so grandfathering allows you to draw a line in the sand and whoever was already utilizing that strategy gets to keep benefiting from it.

And anyone who hadn't already entered into that strategy is under the new rules.

Okay.

So what I'm thinking for myself and other people, it would be a consideration on...

if I feel stuck with that property.

So we've already had an example that we've talked to people about today that have an investment property right now that's not a solid investment.

And now they're thinking, do I need to keep it for negative gearing?

Because if I did the change, oversold it, went into something else or changed my strategy to a different property that was more appropriate, am I stuck in that now?

So that's a big consideration.

So I don't know if it would

that much changed my strategy, but I think that would be what I'd be panicking.

I'd be looking at the tax deduction and go, is it worth holding this?