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Should negative gearing be repealed?, spin off....or adjusted?

I'm Batman View Member Profile	19/04/2012, 02:53 PM Post #1
Posts: 2,879 Joined: 7-June 11
Advanced Member
Since the other thread is closed down and there is an article on smh I thought I should ask... http://smh.domain.com.au/blogs/talking-pro...0417-1x50i.html Dr Chris Martin, a senior policy officer at the Tenants' Union of NSW, says bluntly: "There's a bunch of things that could be done to negative gearing that would go some way to changing what it currently does to our housing system, which is screw up house prices and distort the rental market to the disadvantage of low-income renters. This post has been edited by BabyJaguar: 19/04/2012, 04:48 PM

Replies

Canberra chick View Member Profile	19/04/2012, 08:19 PM Post #2
Posts: 16,607 Joined: 8-May 03 From: Canberra, ACT
From each according to his ability, to each according to his nee
QUOTE We own one rental property - newly built last year. Without being able to negative gear what we are allowed to, we would not be able to afford that rental property. Why should we be penalised because work hard and saved to buy a rental?? But why should the taxpayer pay for you to live beyond your means? You freely admit that you can't afford it without negative gearing and you may have worked hard to save and buy a rental, but you clearly bought one beyond your actual budget. I can't get the taxpayer to subsidise a home loan on a house I live in that has payments beyond my means. Why is it different if you rent the property out?

Posts in this topic

BabyJaguar Should negative gearing be repealed? 19/04/2012, 02:53 PM

JAPN2 Over the years I have been a landlord and tenant. ... 19/04/2012, 03:11 PM

follies Yes, more so they have to make it more difficult f... 19/04/2012, 03:11 PM

JECJEC Depends what you mean by negative gearing and what... 19/04/2012, 03:17 PM

BetteBoop What "bunch of things" does Chris propos... 19/04/2012, 03:18 PM

JRA I have to agree, I would love to see what is repea... 19/04/2012, 03:27 PM

red_squirrel Yes I think so. To paraphrase what I said in the ... 19/04/2012, 03:30 PM

rosiebird QUOTE (red_squirrel @ 19/04/2012, 03:30 P... 19/04/2012, 03:56 PM

BetteBoop red squirrel, I see your point but that's only... 19/04/2012, 03:36 PM

Canberra chick When I arrived here and heard about negative geari... 19/04/2012, 03:41 PM

JRA I think "let's cut negative gearing... 19/04/2012, 03:42 PM

fairymagic Negative gearing should only be repealed if the in... 19/04/2012, 03:47 PM

JAPN2 QUOTE (fairymagic @ 19/04/2012, 03:47 PM)... 19/04/2012, 06:24 PM

Fluster I believe it should be phased out, and the governm... 19/04/2012, 03:50 PM

JECJEC QUOTE (Fluster @ 19/04/2012, 03:50 PM) I ... 19/04/2012, 03:54 PM

Soccer Mum QUOTE (Fluster @ 19/04/2012, 03:50 PM) I ... 19/04/2012, 07:16 PM

Spring Chickadee QUOTE Pray tell me where I can buy an IP and charg... 19/04/2012, 04:07 PM

holy_j Why would they repeal negative gearing? You take a... 19/04/2012, 04:10 PM

darcswan QUOTE (red_squirrel @ 19/04/2012, 03:30 P... 19/04/2012, 04:16 PM

KT1978 If rent is double the mortgage payment then it... 19/04/2012, 04:20 PM

red_squirrel The rent is higher than MY mortgage repayment woul... 19/04/2012, 04:21 PM

JRA QUOTE When the paperwork goes through and the hous... 19/04/2012, 04:22 PM

JRA QUOTE I don't know if the owner charges the hi... 19/04/2012, 04:23 PM

holy_j Incidentally, negative gearing is not limited to p... 19/04/2012, 04:27 PM

red_squirrel Ok - I stand corrected then. I guess my issue isn... 19/04/2012, 04:31 PM

JRA Req_squirrel: I am one who thinks it will go pear ... 19/04/2012, 04:34 PM

sddw In 20/30 years those couples who have had one, may... 19/04/2012, 04:40 PM

red_squirrel and when they all find themselves needing to sell ... 19/04/2012, 04:41 PM

JRA QUOTE In 20/30 years those couples who have had on... 19/04/2012, 04:42 PM

sddw QUOTE (JRA @ 19/04/2012, 04:42 PM) Will t... 19/04/2012, 06:03 PM

BabyJaguar Red squirrel if you have a 40% why can't you j... 19/04/2012, 04:45 PM

red_squirrel Quick answer to that is because DS2 is in a specia... 19/04/2012, 05:09 PM

holy_j Were the investment properties negatively geared t... 19/04/2012, 06:13 PM

Soccer Mum For a long time I have had a bee in my bonnet abou... 19/04/2012, 07:01 PM

holy_j Negative gearing on property is a risky investment... 19/04/2012, 07:16 PM

Soccer Mum QUOTE (holy_j @ 19/04/2012, 07:16 PM) Neg... 19/04/2012, 07:20 PM

JRA QUOTE CGT should also be abolished (although I adm... 19/04/2012, 07:55 PM

Canberra chick QUOTE We own one rental property - newly built las... 19/04/2012, 08:19 PM

Gumbette QUOTE (Canberra chick @ 19/04/2012, 08:19... 20/04/2012, 01:22 PM

BetteBoop QUOTE (Canberra chick @ 19/04/2012, 08:19... 19/04/2012, 08:27 PM

Canberra chick QUOTE I incur all the risks if the market goes bad... 20/04/2012, 11:55 AM

ossim roflcopter There are only 1 or 2 posts in this thread that ma... 20/04/2012, 12:24 PM

BetteBoop QUOTE (Canberra chick @ 20/04/2012, 11:55... 20/04/2012, 12:31 PM

ILBB Yes absolutely (and for other similar investment s... 20/04/2012, 12:53 PM

JRA Cc: I am not sure why you said about bricks and mo... 20/04/2012, 12:56 PM

darcswan QUOTE (Canberra chick @ 20/04/2012, 11:55... 20/04/2012, 01:20 PM

ILBB QUOTE Yes, you pay less tax, but you are still pay... 20/04/2012, 01:23 PM

Gumbette QUOTE (ILBB @ 20/04/2012, 01:23 PM) It is... 20/04/2012, 01:29 PM

JRA QUOTE It is still revenue forgone from the Govt co... 20/04/2012, 01:24 PM

Stoked QUOTE (JRA @ 20/04/2012, 01:24 PM) Do peo... 20/04/2012, 01:34 PM

Gumbette QUOTE (Stoked @ 20/04/2012, 01:34 PM) To ... 20/04/2012, 01:53 PM

papilio The more I learn about the housing industry - from... 20/04/2012, 01:29 PM

ILBB QUOTE I would argue that if public housing was fun... 20/04/2012, 01:31 PM

papilio http://www.anglicare.org.au/news-research-...bilit... 20/04/2012, 01:37 PM

JRA I understand what happens, but no-one has said wha... 20/04/2012, 01:40 PM

Stoked QUOTE (JRA @ 20/04/2012, 01:40 PM) I unde... 20/04/2012, 01:53 PM

BetteBoop QUOTE (papilio @ 20/04/2012, 01:29 PM) I ... 20/04/2012, 01:41 PM

ILBB I would argue that because public housing has not ... 20/04/2012, 01:53 PM

JRA QUOTE ? To the PPs who say the same can be done wi... 20/04/2012, 01:55 PM

Bubble11 QUOTE (Canberra chick @ 20/04/2012, 11:55... 20/04/2012, 01:57 PM

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