This request is seeking budget analysis on the revenue foregone in relation to the cost of negative gearing and the capital gains tax discount. There are 2 components to this request: 

• Component 1: Determine the annual value of revenue forgone due to negative gearing (NG) deductions and the capital gains tax (CGT) discount applied to residential investment properties, over the past 10 years and projected into the medium term until 2034-35. Analysis is to include residential properties owned by individuals, trusts, partnerships.
• Component 2: Provide distributional analysis for the projection period, including the annual tax revenue forgone from NG deductions and the CGT discount for the average residential property investor, and for each income decile.