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Having funded the system for many years through renting, working and paying taxes, and then buying a small, old un-renovated house at an exorbitant price, it would be a real shame if this wealth vehicle is denied to me when I could make use of it. Given that I am forced to forgo a significant part of my income (Superannuation) but am still required to fun the pension scheme, and that I did not have access to free tertiary education or health care, it would be unfair if I could not take advantage of this illogical greed based system that has destroyed housing in this country. Let it be for your first investment property, perhaps no negative gearing for your third, fourth, fifth properties...If only I could tax deduct or salary sacrifice a new Takahashi.
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