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More speculation about the future of negative gearing

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Your Investment Property | 19 Jan 2016, 04:51 AM Agree 0
The Federal Government has been warned they could be the ones to lose out if major changes are made to negative gearing
  • Jobi | 19 Jan 2016, 12:06 PM Agree 0
    "Blew out"....? Only in Sydney Rich.

    Now you aren't biased are you? Noooo...I'm sure you'd be objective whilst talking about reform that would stop the coffers from falling into your pocket. Next analysis please, these guys are stupid and boring.
  • Macca | 19 Jan 2016, 02:39 PM Agree 0
    Fair comment and most people think negative gearing is for the rich but fact is it actually helps low and medium income earners get into property, I am one them! People need to understand how it helps lower income earners instead of thinking its tax evasion.
  • Geoff | 19 Jan 2016, 03:24 PM Agree 0
    The Government (any Government, not just this one) don't seem...ok, aren't prepared, to fund a public housing environment that will accommodated all the people that needs it so they need the private sector to do and make it attractive it via incentives. Remove the incentives and you know what'll happen, and it won't be the investors that pay the price for that mistake.
  • David | 24 Jan 2016, 01:25 PM Agree 0
    If we get rid of negative gearing on property, it would be reasonable to assume that we get rid of negative gearing on other investments (businesses, shares etc).
    This would mean that businesses (such as BHP, Woodside, Wesfarmers, CBA, Telstra and just about every business in Australia down to your local butcher) would not be allowed to offset genuine costs against their income. This changes the whole tax system and has major ramifications for the whole Australian economy.
    As a property investor, I have used the negative gearing provisions but my properties provide me with an income which I pay tax on. Because of my property investments, I will not need the pension when I retire.
    What we need is a fairer tax system - removing negative gearing would not make the tax system fairer. Allowing investors to only claim interest on 80% of the original asset purchase price would be a better limitation and would stop the endless refinancing that has the primary purpose of minimising tax.
  • Neil Currin | 26 Jan 2016, 06:57 AM Agree 0
    Hey Government
    You are all highly educated people but no common sense. You do not learn by your mistakes. Keating tried it. Politicians in tough times and you don't receive enough income through taxes. Do what businesses have to do m. Cut costs. Reduce your big salaries and perks. You are overloaded with government employees. Close the easy Centrelink claims. Make them work for Centrelink handouts. If they don't want to work give them food stamps. With the huge deficit that you are creating. What are we going to leave our children and grandchildren a big debt. Let's get responsible and stop making excuses. Let's get debt free.
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