Negative Gearing is here to stay!
How many more times will we see a newspaper headline about the subject of negative gearing this year? It apparently makes great politics but how boring for the voters, negative gearing is here to stay!
Every year for the last 20 years at least we’ve had the scare-mongering, usually from the party in opposition, about changes to negative gearing laws. Now it’s become an election issue so the topic will be on our front page news until the middle of the year. Our front [page news today sees our prime minister take Labor’s policy outcomes many steps further. Not only would the Labor policy be a terrible blow to property investors, but it is really a ‘secret plan” to kill off all tax relief to all forms of investment! It has to be noted that negative gearing is a legitimate tool to use in all forms of investment and is not strictly limited to investment property only. The real wealthy use negative gearing in other forms of investment including the share market.
“The Prime Minister said Labor’s policy is actually a plan to end tax deductibility on all business expenses against ordinary income, including margin loans used to buy shares, and even basic small business acquisitions such as a truck for a freighting partnership.
The assault came after the government was embarrassed when a report by the firm BIS Shrapnel, which Treasurer Scott Morrison claimed had modelled Labor’s negative gearing policy, was found to have been done before the opposition policy was released.”
And the final outcome folks – it’s all a storm in a teacup – the whole discussion will be forgotten about after the election until some bright spark brings the topic up again for a little more scare-mongering just before the budget in 2017!
Read more: http://goo.gl/iObSPv
Follow us on Facebook: https://goo.gl/qlVppi
Twitter: @LimeProperty1
~ Lime Property Solutions
