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Ah yes, but wouldn't the deadweight loss be lower as well? It doesn't technically refer to efficiency in that respect, but more 'efficient' behaviour should result in a lower deadweight loss. But yes, you are 100% correct in regards to theory vs reality. Trust me, I work in an area where...

The biggest implication I can think of for the removal of NG is that it would make depreciation almost worthless. I would think that a large majority of properties are only slightly negatively geared, until you apply depreciation. This could have big consequences for developing, and the...

This is exactly correct. People hate land tax because it is so transparent (and it's just a 'bill' each year). But tax is a necessary evil, and if inefficient taxes such as stamp duty are removed, with efficient taxes like land tax increased, the overall impact is that you will pay less...