THE FUTURE OF TAX DEDUCTIONS ON NEGATIVELY GEARED INVESTMENT PROPERTIES
Published on June 19, 2015
On the ABC Lateline programme earlier this week, presenter Emma Alberici suggested to the Finance Minister, Mathias Corman, that it was time “negative gearing and the more than $13 billion of tax deductions it creates were scrapped once and for all”.
The Finance Minister categorically said that the Government did not agree, stating that the Hawke / Keating Labor Government tried that in the mid 1980’s only to walk away from the policy (after a couple of years).
Next week I am going to address this topic in more detail, however, in the meantime I am seeking your thoughts on the subject.
MRD 2015 Australian Property Investor Survey
If you have not already participated in the MRD 2015 Australian Property Investor Survey please do as I am keen to gather the opinion of as many people as possible on this very topic, and others.
The argument that allowing property investors to claim a tax deduction for their negatively geared investment properties largely benefits the rich is one that my experience in this business does not agree with, so I have asked in the survey for people to nominate if they are in the low, middle or high income bracket.
Thus far the results have been very telling and my goal is to have as many people as possible participate in this annual survey.
I’ll have more to say on the topic of negative gearing next week and of course the results of the survey will be released early next month.
Your participation is sought
So between now and then will you please give me just two minutes of your valuable time to complete the 2015 Australian Property Investors Survey and in return I will post you a hard copy of my latest book (if you’d like one). Here’s the link again:
Have a great weekend with friends and family,
Partnering with you for your investment success