Australian Politics Forum - Turncoat on negative gearing in 2005

Sir lastnail

Gold Member

Offline

Australian Politics

Posts: 30900
Gender: male

Turncoat on negative gearing in 2005
Mar 11^th, 2016 at 10:59am

Check it out. They don't call him Turncoat for nothing Wink

Quote:

I will remind readers once more of Malcolm Turnbull’s comments in his 2005 tax policy paper, where he described negative gearing and the CGT discount as a “sheltering tax haven” that is “skewing national investment away from wealth-creating pursuits, towards housing”, and has caused a “property bubble”. Turnbull also acknowledged that “Australia’s rules on negative gearing are very generous compared to many other countries” and that “the normal deductibility principles do not apply to negatively geared real estate such that the taxpayer is not obliged to demonstrate that the negatively geared property will generate positive cash flow at some point in the distant future”.

http://www.macrobusiness.com.au/2016/03/coalition-swarms-into-cloud-of-negative-...

Back to top

« Last Edit: Mar 11^th, 2016 at 11:36am by Sir lastnail »

"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

IP Logged

crocodile

Gold Member

Offline

Australian Politics

Posts: 6683
Gender: male

Re: Turncoat on negative gearing in 2005
Reply #1 - Mar 11^th, 2016 at 11:17am

Sir lastnail wrote on Mar 11^th, 2016 at 10:59am:

Check it out. The libbos caught out in a web of lies and deceit Wink

Quote:

I will remind readers once more of Malcolm Turnbull’s comments in his 2005 tax policy paper, where he described negative gearing and the CGT discount as a “sheltering tax haven” that is “skewing national investment away from wealth-creating pursuits, towards housing”, and has caused a “property bubble”. Turnbull also acknowledged that “Australia’s rules on negative gearing are very generous compared to many other countries” and that “the normal deductibility principles do not apply to negatively geared real estate such that the taxpayer is not obliged to demonstrate that the negatively geared property will generate positive cash flow at some point in the distant future”.

http://www.macrobusiness.com.au/2016/03/coalition-swarms-into-cloud-of-negative-...

The CGT discount and taxation rules apply to all asset classes.

Back to top

Very funny Scotty, now beam down my clothes.

IP Logged

BatteriesNotIncluded Gold Member Offline MediocrityNET: because people died for this! Posts: 26966	Re: Turncoat on negative gearing in 2005 Reply #2 - Mar 11^th, 2016 at 11:57am ..-> turnbull is fingered: get ready fo r achang eof government!
Back to top	Sure....they're anti competitive as any subsidised job is. It wouldn't be there without the tax payer. Very damned difficult for a brainwashed collectivist to understand that I know.... (swaggy) IP Logged

Sir lastnail

Gold Member

Offline

Australian Politics

Posts: 30900
Gender: male

Re: Turncoat on negative gearing in 2005
Reply #3 - Mar 12^th, 2016 at 8:43am

crocodile wrote on Mar 11^th, 2016 at 11:17am:

Sir lastnail wrote on Mar 11^th, 2016 at 10:59am:

Check it out. The libbos caught out in a web of lies and deceit Wink

Quote:

I will remind readers once more of Malcolm Turnbull’s comments in his 2005 tax policy paper, where he described negative gearing and the CGT discount as a “sheltering tax haven” that is “skewing national investment away from wealth-creating pursuits, towards housing”, and has caused a “property bubble”. Turnbull also acknowledged that “Australia’s rules on negative gearing are very generous compared to many other countries” and that “the normal deductibility principles do not apply to negatively geared real estate such that the taxpayer is not obliged to demonstrate that the negatively geared property will generate positive cash flow at some point in the distant future”.

http://www.macrobusiness.com.au/2016/03/coalition-swarms-into-cloud-of-negative-...

The CGT discount and taxation rules apply to all asset classes.

But negative gearing seems to be used and abused on the most unproductive assets !!

Back to top

"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

IP Logged

BatteriesNotIncluded

Gold Member

Offline

MediocrityNET: because
people died for this!

Posts: 26966

Re: Turncoat on negative gearing in 2005
Reply #4 - Mar 12^th, 2016 at 1:07pm

Sir lastnail wrote on Mar 12^th, 2016 at 8:43am:

crocodile wrote on Mar 11^th, 2016 at 11:17am:

Sir lastnail wrote on Mar 11^th, 2016 at 10:59am:

Check it out. The libbos caught out in a web of lies and deceit Wink

Quote:

I will remind readers once more of Malcolm Turnbull’s comments in his 2005 tax policy paper, where he described negative gearing and the CGT discount as a “sheltering tax haven” that is “skewing national investment away from wealth-creating pursuits, towards housing”, and has caused a “property bubble”. Turnbull also acknowledged that “Australia’s rules on negative gearing are very generous compared to many other countries” and that “the normal deductibility principles do not apply to negatively geared real estate such that the taxpayer is not obliged to demonstrate that the negatively geared property will generate positive cash flow at some point in the distant future”.

http://www.macrobusiness.com.au/2016/03/coalition-swarms-into-cloud-of-negative-...

The CGT discount and taxation rules apply to all asset classes.

But negative gearing seems to be used and abused on the most unproductive assets !!

Let government not reform: yay, let's all get tribalistic and do nothing forever Grin

Back to top

*Sure....they're anti competitive as any subsidised job is. It wouldn't be there without the tax payer. Very damned difficult for a brainwashed collectivist to understand that I know.... (swaggy) *

IP Logged