Negative gearing reform is back, but young voters now hold the power

Comments

• null_dot@lemmy.dbzer0.com ⁨3⁩ ⁨weeks⁩ ago

  To the surprise of absolutely no one, people who don’t own houses don’t like negative gearing.

  They’ll take it to an election though. Suicidal to introduce mid-cycle.

  It didn’t get up in 2019 because there was too much other stuff, dividend imputation et cetera.

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• appetizer@lemmy.today ⁨3⁩ ⁨weeks⁩ ago

  But what about capital gains concessions? That can’t be ignored.

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  • MisterFrog@aussie.zone ⁨3⁩ ⁨weeks⁩ ago

    Absolutely, why we let you halve your taxable income for investments is beyond me.

    Work for your money? All of that is taxable. Let your money work for you? Ooooooh poor baby, let’s half that taxable income shall we? Ooooh you didn’t work at all, let me refund you 30% of your dividends back to you, oh dear, oh dear gorgeous.

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    • DavidDoesLemmy@aussie.zone ⁨3⁩ ⁨weeks⁩ ago

      It’s to counter inflation. If you have an investment that you sell for 10% more after a few years, you haven’t actually made 10% because inflation ate up some of your returns. So for simplicity they say after a year we’ll count half of your returns as inflation and half as profits.

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• DavidDoesLemmy@aussie.zone ⁨3⁩ ⁨weeks⁩ ago

  I think it makes sense to limit negative gearing. But it would be a tough sell to remove it entirely. They could limit it to a max amount per year. Maybe 20k per year.

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  • Zagorath@aussie.zone ⁨3⁩ ⁨weeks⁩ ago

    The proposal is to limit it to one property. So small-time investors still get the full benefit of it, while larger ones (1% of investors have 25% of negatively geared properties is what they said on Insiders, I think) get cut drastically.

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  • dockedatthewrongworf@aussie.zone ⁨3⁩ ⁨weeks⁩ ago

    I wonder if they limited negative gearing to new properties, it would allow established units/houses to be sold and encourage more houses and unit to be developed? Could limit it to 5 - 10 years before you lose the negative gearing benefits.

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• hanrahan@slrpnk.net ⁨3⁩ ⁨weeks⁩ ago

  Under 40 they say ?

  I’m 60 and an owner occupier (no mortgage) , my partners son is 37, he and his wife just bought their 4th house, 1ppor and 3 x “invesetment” properties.

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