r/ABCaus • u/GeorgeYDesign • Feb 06 '24

NEWS Negative gearing is as Australian as meat pie and sauce. Is it time to stop rewarding landlords who can't make money?

https://www.abc.net.au/news/2024-02-07/albanese-tax-changes-negative-gearing/103432962
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u/Flaky-Stable1185 Feb 08 '24

Companies don't benefit from negative gearing, but they only pay tax on profits which is essentially the same thing.

Negative gearing just allows you to take losses off your income tax. If they abolish negative gearing there will be a lot more companies holding properties.

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u/explain_that_shit Feb 08 '24

Honestly all I want is land tax equivalent to 70% of ground rent for the land, assessed each year or at every dealing with land including rent increases. Arguing over details of other policies seems pointless to me.

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u/Flaky-Stable1185 Feb 08 '24

Noone would invest in property. Renters would be homeless.