ARE YOUR NEGATIVELY GEARED TAX DEDUCTIONS SAFE?
Published on June 26, 2015
Last week the Finance Minister Mathias Corman was interviewed (interrogated) on the ABC Lateline program by Emma Alberici about the scrapping of the $13 billion + worth of tax deductions negative gearing delivered to property investors.
News Limited reported recently that just over a million Australians enjoy the benefits of claiming a tax deduction from negative gearing representing billions of dollars that could be released for schools, hospitals, roads and other services if removed.
John Daly of The Grattan Institute says public debate is needed because the policy is expensive, inefficient and inequitable and reduces home ownership.
So the question I pose to property investors is, “Are your negatively geared tax deductions safe”?
Firstly, did you know that negative gearing does not actually exist inside Australian taxation laws?
Go ahead and download an information document I have prepared to give you some insights into the complexities of this debate. In this document I cover the following:
- What is negative gearing?
- All investment property will deliver positive cash flow, eventually
- Cost vs. benefit to governments
- The ripple effect
- Is negative gearing unfairly benefitting the rich?
- Percentages of middle, low and high income families claiming a tax deduction on negatively geared property
- Keep bashing the rich
- The impact of removing negative gearing tax deductions
- Labor, The Greens and negative gearing
- What if they do?
- Have your say
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