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Welfare group demands end to investor tax breaks

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Your Investment Property | 20 Aug 2012, 12:00 AM Agree 0
A prominent social services organisation is urging the government to cut tax breaks that investors receive on negatively geared property. This follows its own surprising report on emergency housing providers
  • Pascoe | 20 Aug 2012, 12:32 AM Agree 0
    Yes, lets remove negative gearing, so there will be less investors purchasing property to rent out which will than drive up the rents and do exactly the opposite that you want to achieve ACOSS. This was tried before and failed. Midnight Oil "short memory...must have a".
  • Gregory | 21 Aug 2012, 11:31 AM Agree 0
    Paul Keating already did this. Rents went up so high, he had to put negative gearing back. Some people have short memories, or are plain stupid. Let's hit our thumb with a hammer again, maybe it will be different this time?
  • Kris | 21 Aug 2012, 11:43 AM Agree 0
    Here we go again...... Remember last time???
  • Kris | 21 Aug 2012, 11:43 AM Agree 0
    Here we go again...... Remember last time???
  • Russell Murphy | 21 Aug 2012, 01:26 PM Agree 0
    Where was ACOSS when negative gearing was last axed because it promptly caused the suppliers of rental stock to invest elsewhere. And why would any sensible legislator (??) attempt the National Rental Affordability Scheme on the one hand whilst removing negative gearing on the other? Reality check needed here.
  • Tony Issa | 21 Aug 2012, 01:51 PM Agree 0
    More rubbish ideas from another left wing, govt (taxpayer) funded bleeding heart organisation. On one hand its ok to get the pension and housing commission house, and pay for nothing with your own money, but if you earn a living by working a tax break is oh so wrong!!Apart from truely disabled Australians,why can't these people get a job, get a loan, then go and buy their own bloody house!
  • Graham | 21 Aug 2012, 11:17 PM Agree 0
    Let's be honest, anything that might help the poor is worth considering. I don't see why everyone can be so selfish
  • Trent | 21 Aug 2012, 11:19 PM Agree 0
    This is bollocks
  • ronald raygun | 22 Aug 2012, 07:13 AM Agree 0
    The perverse effect of any govt subsidy is in fact to raise prices. For example, if a water storage tank was to be subsidised by say $2000, the company making water tanks would simply raise the price by $2000. Subsidies stifle innovation and incentives for effiecency. Govt by its (beauracratic) nature is hugely inefficient. Apply a subsidy to any industry and watch that industry fail.

    Connect the dots. Housing is an industry, and it is failing largely because of govt tax breaks. As an industry supposedly to provide safe, secure, affordable housing for the population at large, it has failed miserably.
  • Charl | 22 Aug 2012, 11:14 AM Agree 0
    @Graham… you are deluded if you think this will help the poor. Keep dreaming mate
  • Stephanie | 22 Aug 2012, 11:17 AM Agree 0
    Yawn. Why do I get the feeling like this isn’t going to happen? ACOSS wants this, but no one else
    does
  • Lorenzo | 22 Aug 2012, 11:18 AM Agree 0
    Graham: you are obviously not a property investor and could never understand how important
    negative gearing refunds are because without them nobody would be investing in property and we
    would have a big problem with people not having places to stay
  • Lashonda | 22 Aug 2012, 11:21 AM Agree 0
    Boo! Ain't nobody got time for that
  • Kieran | 22 Aug 2012, 02:57 PM Agree 0
    Despite having a useless government, I don't think they will actually give in to ACOSS' pressure. This hasn't actually been implemented, and I don't think it will be.
  • David | 22 Aug 2012, 10:13 PM Agree 0
    Am I the only one who thinks this idea sounds soooo, communist. Investors will invest in what ever gives them a good deal take away the incentives in property, they will simply move to something else, no biggy. meanwhile mr and mrs low income now have to pay higher prices for less available houses... HEEELLLLLLLOOOOOO. ACOSS, wake the hell up. The problem with socialists is sooner or later they run out of other peoples money. Useually my taxes that i pay after investing in giving people homes. Go back to art school hippies.
  • Randall Ferguasi | 24 Aug 2012, 07:16 PM Agree 0
    I agree that negative gearing has its problems if you're looking at it as the sole basis for your investing. Let's face it: the tax breaks are not that significant. THey help, for sure, but in the long run you can't rely on negative gearing to pull you out of trouble. Capital growth is and always will be the basis of any sound investment.
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