Vince Scully

So you get losses against employment income, which is your cost of your uniform and your tools.

You've got losses from investment income, like your accountant, your interest on borrowings,

Work from home, shaft.

Yeah.

So that's all.

And unusually in Australia, and this goes back almost forever, at least till the 1936 Act, I think, where you could take a loss from one area and apply it against somewhere else.

So Australia got this hobby horse where lots of people bought an investment property knowing that it was gonna make a loss in the early years and could use that against their personal income.

Can it get any worse?

Probably not.

But if you beamed a Martian down to earth and said, how would you design a tax system?

You would not have chosen the settings we had.

So this takes us closer to a more sensible structure.

Is it better for everybody?

Obviously not.

There's always winners, there's always losers.

But if there is anything that can mow the needle in terms of housing affordability,

then this has got to help.

I don't think it's the answer to all of it.

And certainly the treasury modeling underpinning this doesn't make it the answer to everything.

But this is a game of millimeters that you got to keep inching yourself forward if that's not mixing my measures and take every little bit you can.