'Is it in or out?': The granny flat question in the negative gearing debate

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• SarahFromOz@lemmy.world ⁨1⁩ ⁨week⁩ ago

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  This time, Housing Minister Clare O’Neil gave the final answer to the question: Granny flats cannot be negatively geared.

  “An established property recently extended a free-standing house constructed through a knock-down rebuild, replacing an older, smaller free-standing house, a granny flat built adjacent to an established property, that isn’t eligible for negative gearing,” she said.

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  • JayDee@lemmy.world ⁨1⁩ ⁨week⁩ ago

    What does negative gearing mean?

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    • SarahFromOz@lemmy.world ⁨1⁩ ⁨week⁩ ago

      Yes, just another example of our system being very favourable to owners and investors over those with less in the bank. It could have been exemption from GST if you make less than a certain amount for example - boost those struggling not those already winning.

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