Negative gearing to be abolished July 1
- Thread starter joeExpat
- Start date
But doesn't April fools end at Lunchtime??
There is no other headlines about it though
http://www.google.com.au/#hl=en&sou...Search&aq=f&aqi=&aql=&oq=&fp=7e7d4b90e5ca0f75
There is no other headlines about it though
http://www.google.com.au/#hl=en&sou...Search&aq=f&aqi=&aql=&oq=&fp=7e7d4b90e5ca0f75
There's no way known Julia Gillard would drop a bombshell like that without a lot of advance warning to us all. You would have been hearing about enquiry after enquiry for months with all sorts of debates and models of impact etc. In short, we would have been "warned" it was coming so it didn't catch us completely off guard and get us all riled up.
Nice try though, might get a few people going...
Cheers,
Michael
Nice try though, might get a few people going...
Cheers,
Michael
No, I mean seriously talked about in a tax summit like this one proposed recently:
http://www.adelaidenow.com.au/ipad/key-mps-demand-broad-tax-summit/story-fn6bqphm-1226024321399
Until they do that, which isn't even flagged until beyond June 2011 then don't expect something as central as Negative Gearing to be abolished. Even the concept of it "being on the table" is shocking enough.
Cheers,
Michael
What a silly idea.
If we couldn't deduct the losses of our investments from our taxable income it would make no sense to invest.
In fact the investors would dissapear and they would need to start providing public housing in an already VERY VERY tight rental market.
They would also have to apply the same principle to other forms of investment eg shares
If we couldn't deduct the losses of our investments from our taxable income it would make no sense to invest.
In fact the investors would dissapear and they would need to start providing public housing in an already VERY VERY tight rental market.
They would also have to apply the same principle to other forms of investment eg shares
I feel sorry for my tenants......
But only because I know most of them.
Maybe its time to distant myself and to let the PM deal with all issues
Bring it on. Please. I've just had a nice round of rental reviews. If this comes through, next years will be even better.
I also think it is a hoax but bv it is possible for any government to put exclusions or exemptions onto asset classes without changing the nature of other or similar asset classes.
E.g the family home is exempt from cgt, small businesses receive many tax concessions, etc so it would be very plausible to have a restriction on negative gearing for new residential properties without having to change the gearing for other types of investments.
E.g the family home is exempt from cgt, small businesses receive many tax concessions, etc so it would be very plausible to have a restriction on negative gearing for new residential properties without having to change the gearing for other types of investments.
