Sunday, Aug 20, 2006

How negative gearing can become a problem for all...

The Age: Landlords bring their losses to the masses

NEGATIVE gearing of rental properties is rapidly eroding tax revenues, with the Australian Tax Office reporting that net losses claimed by rental investors jumped 50 per cent in 2004-05 to $3.9 billion.

Posted by anthony ashwin @ 11:21 AM (503 views)
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1. Ticktock said...

I wondor how long it will be before the connection is made between the tax avoidance of 'decent hard-working middle class' people, and the shite living conditions that they cause for working class people like me.
Moreover, what might happen then?

Sunday, August 20, 2006 04:44PM Report Comment

2. uncle chris said...

I like this comment - "Renting houses has now become the nation's most unprofitable industry" - I know it's Australia, but the same thing is starting to happen here. Unfortunately, when you break down the figures for recent BTLs (yes, I do know one) they are reluctant, to the point of being agressively defensive, about accepting that their money would be better off in a building society. This will only change when the media as a whole starts to report the rise in negative equity, which sadly will be too late for most, therafter locked into at least 25 years of supporting their tenants - kind souls.

Sunday, August 20, 2006 05:58PM Report Comment

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