Lodged a report with the ATO about a well known widespread scam for avoiding paying income tax in Australia. There is a unique part of Australian tax law which states that it is illegal to enter into a business arrangement for the sole purpose of reducing tax.
Not about a particular person, I'd be here all year filling these out!
Pretty big industry this tax evasion thing.
Let's be clear: negative gearing robs taxpayers and feeds bank profits.
Have my doubts it'll be fixed.. But..
Wonder whether they'll actually look into it?
Hope it gets a chuckle from someone at the ATO.. 
In response to: http://www.smh.com.au/business/negative-gearing-is-safe-from-tax-review-treasurer-hints-20100326-r34t.html
Fired off an email to the treasurer (or his lackeys trawling through emails anyhow)..
To the office of the Treasurer,
I would urge that you consider removing the tax breaks afforded to negative gearing of property.
This concept is by far the most cited way I’ve heard to avoid paying tax. Comments like “look at all the tax we pay that goes to the government, but we can write that off if we get an investment property” are common.
This lost revenue then places extra burden on anyone else who does not have investment properties with which to escape paying fair taxes. I would rather have the money going to community rather than feeding bank profits.
Additionally it appears to create an environment of higher housing prices which require mortgages far beyond the possible rental return (further creating difficulties for those wishing to actually enter the market).
At very least the benefits of negative gearing should be restricted to newly created properties only. This would create an incentive for new property development rather than simply funnelling tax dollars into bank interest payments and inflating house prices.
I suspect with the removal of investment properties allowing people to write off tens of thousands up to hundreds of dollars tax we’d be able to lower income taxes.
Regards,
Nathan Lee
Actually got back a rather dull letter. Humour opportunity fail treasury letter writing guy. Tut tut..
[...] As I said, maybe they can use some of those tax breaks (for negative gearing) or blatant vote buying handouts (1st homeowner’s grants). If you think the whining is bad now, just wait til these mortgage owners start learning about negative equity. That and politicians seem to forget mortgage owners are in the minority, though I guess most of them are taking advantage of the generous tax scams available to investment property via negative gearing. [...]