The ABC’s Four Corners has aired an excellent story tonight showing how tax distortions such as negative gearing has created one of the world’s largest housing bubbles: Watch the 45 minute segment here.
Prime Minister Malcolm Turnbull has today ruled out any changes to negative gearing and in doing so, has drawn battle lines on housing affordability for this coming election. If Labor wins the election, it plans to reform negative gearing and the capital gains tax discount effective from 1st July 2017. …
In an interview with Neil Mitchell’s 3AW on Friday, Prime Minister Abbott said “Don’t forget Neil that if housing prices go up, sure that makes it harder to get into the market, but it also means that everyone who is in the market has a more valuable asset.” His comment …
Generation Y, Kev wants you on board. During Kevin Rudd’s comeback leadership victory speech he had a message for our young generation: Before I conclude, let me say a word or two to young Australians. It’s clear that many of you, in fact too many of you have looked at …
Among the backdrop of growing budget deficits, the government struggling to fund Gonski and the National Disability Insurance Scheme (NDIS), the Australian Taxation Office (ATO) yesterday released figures showing negatively geared property investors lost a cool $13.285 billion in 2010-11 with much of this loss funded by the taxpayer. It …
After Monday’s MYEFO, the ABC suggests the Federal Government could save $5 billion a year with a single chop. Watch the video segment, Suggestion for a surplus, on The Business here.
Prosper Australia invites you to an presentation on Negative Gearing to be held in Melbourne next Tuesday night (2nd October). Karl Fitzgerald describes the session: In what promises to be the most extensive research yet into negative gearing, Philip Soos has assembled an extensive array of data to dispute that …
Prime Minister Julia Gillard joined the ABC’s Q&A program Monday night to answer the questions and concerns of everyday ordinary Australians. Robyn Tracey from the audience asked the Prime Minister a couple of questions on tax reform including this one on negative gearing: Why hasn’t negative gearing been abolished despite …
As housing affordability hits crisis point in Sydney, NSW Opposition Leader John Robertson has called for a debate on the effect negative gearing is playing on housing affordability. A report released last week from the McKell Institute showed seventy precent of under 35s can no longer afford to buy a …
We have often warned that negative gearing is really only good when house prices are rising. Now the mainstream media is ringing the same bells. The Sydney Morning Herald writes: In a rising property market, negative gearing can be a good strategy to build wealth – but watch out when …
The two day tax forum in Canberra has ended today showing negative gearing is still firmly on the chopping block. In April we reported (Negative Gearing Rort added to Endangered Species List) on discussions the Gillard government had been having on abolishing what is considered Australia’s largest tax concession. Figures …
Late last month we reported on news of the Gillard Government considering the scaling back of Negative Gearing in Australia. (See Negative Gearing Rort added to Endangered Species List) The Australian has today reported on a couple trying to sell an investment property after the uncertainly brought about from these …
With the housing market once again showing signs of cooling, there has been some debate in recent weeks surrounding the question of if the government will introduce a new first home owner’s grant to prop up the market. So you can imagine the surprise we received today, when news broke …
Figures from the Australian Taxation Office shows Australian Residential Property Investors collectively raked up losses totaling $8.6 billion dollars, in a bid to avoid $4 billion in Tax. The $8.6 billion dollar loss is a increase of 35 per cent over the previous year with Queensland and NSW attributing to …
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