Australian Politics Forum - If they are hell bent on keeping negative gearing.

Lisa Jones

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Re: If they are hell bent on keeping negative gearing.
Reply #165 - Jun 26^th, 2023 at 8:58am

freediver wrote on Jun 26^th, 2023 at 5:08am:

John Smith wrote on Jun 25^th, 2023 at 9:23pm:

freediver wrote on Jun 25^th, 2023 at 9:03pm:

John Smith wrote on Jun 25^th, 2023 at 8:13pm:

freediver wrote on Jun 25^th, 2023 at 9:03am:

John Smith wrote on Jun 24^th, 2023 at 9:52pm:

freediver wrote on Jun 24^th, 2023 at 8:40pm:

John Smith wrote on Jun 24^th, 2023 at 1:17pm:

freediver wrote on Jun 24^th, 2023 at 1:04pm:

John Smith wrote on Jun 24^th, 2023 at 12:49pm:

freediver wrote on Jun 24^th, 2023 at 12:47pm:

Do you think it is a good idea for the tax department to send people bankrupt by giving them a huge tax bill in a year in which they actually lose money?

are you saying the tax dept doesn't do that already?? Grin

Some taxes depend on how much money you actually make.

and some don't ... your point?

That people who invest in rental properties should not be singled out to pay extra taxes compared to people who invest in shares, small businesses, other forms of property etc. The same principles that apply to all other business activities should apply to rental properties.

And if, like Smith, you are completely lacking in principles, put it this way: rents will go up, not down, if you make rental property owners pay more tax. This is just another Greens idea that will actually harm the people it is intended to benefit, which is what always happens when the economically illiterate get their way.

Are you drunk again? Cheesy

Do you think it is a good idea for the tax department to send people bankrupt by giving them a huge tax bill in a year in which they actually lose money?

Irrelevant what I think. They already send people big tax bills and manygobroke whilstothersdon't. If you're broke because of it it's your own stupid fault. The tax office doesn't care either way.

Yes, fortunately it is irrelevant. But you might stop sprouting idiotic BS if you try thinking before posting.

Do you think it is a good idea for the tax department to send people bankrupt by giving them a huge tax bill in a year in which they actually lose money?

The only one sprouting idiotic bullshit is you. You think your red herring about driving people broke with a tax cheque is a substitute for logic? You're a cretin

Do you think it is a good idea for the tax department to send people bankrupt by giving them a huge tax bill in a year in which they actually lose money?

Oh look everyone! Read 👆

Five Foot Five Frodo STILL can’t answer any question you give him. His last drug fried brain cell gets so stumped that he :

1. posts a 1 liner consisting of abuse

OR

2. logs off in cyber fear

OR

3. will ask the very same question back to you

😂🤣😆

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« Last Edit: Jun 26^th, 2023 at 9:04am by Lisa Jones »

If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Jovial Monk Gold Member Offline Dogs not cats! Posts: 51474 Gender:	Re: If they are hell bent on keeping negative gearing. Reply #166 - Jun 26^th, 2023 at 9:04am JohnSmith afraid of you??? LOL! He is off to manage his business.
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mothra Gold Member Offline Australian Politics Posts: 36731 Gender:	Re: If they are hell bent on keeping negative gearing. Reply #167 - Jun 26^th, 2023 at 9:07am Yet more foul cyber-bullying from Lisa, pretending to care so much about suicide rates. What would Jesus do?
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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: If they are hell bent on keeping negative gearing. Reply #168 - Jun 26^th, 2023 at 9:10am Poll Added
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Lisa Jones

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Re: If they are hell bent on keeping negative gearing.
Reply #169 - Jun 26^th, 2023 at 9:16am

Jovial Monk wrote on Jun 26^th, 2023 at 9:04am:

JohnSmith afraid of you??? LOL!

He is off to manage his business.

😂🤣😆😂🤣😆😂🤣😆😂🤣😆😂🤣😆😂🤣😆😂🤣😆😂🤣😆

Go back to bed demented dumbarse! Idiot!

Casual tiling and only cash jobs too so as to evade tax and child support!

Oh and the occasional drug deal! That’s ALL he’s ever done in life! Oh and he’s a HOBOSEXUAL... he uses women to park his arse overnight!

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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Jovial Monk Gold Member Offline Dogs not cats! Posts: 51474 Gender:	Re: If they are hell bent on keeping negative gearing. Reply #170 - Jun 26^th, 2023 at 9:39am Try not being stupid, hard tho that is for you.
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Jovial Monk Gold Member Offline Dogs not cats! Posts: 51474 Gender:	Re: If they are hell bent on keeping negative gearing. Reply #171 - Jun 26^th, 2023 at 9:41am mothra wrote on Jun 26^th, 2023 at 9:07am: Yet more foul cyber-bullying from Lisa, pretending to care so much about suicide rates. What would Jesus do? Drive Larry from the Temple? Crucify him? Maybe Larry was one of the three thieves crucified with old JayCee?
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Lisa Jones

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Australian Politics

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Sydney
Gender: female

Re: If they are hell bent on keeping negative gearing.
Reply #172 - Jun 26^th, 2023 at 9:47am

Lisa Jones wrote on Jun 26^th, 2023 at 9:16am:

Jovial Monk wrote on Jun 26^th, 2023 at 9:04am:

JohnSmith afraid of you??? LOL!

He is off to manage his business.

😂🤣😆😂🤣😆😂🤣😆😂🤣😆😂🤣😆😂🤣😆😂🤣😆😂🤣😆

Go back to bed demented dumbarse! Idiot!

Casual tiling and only cash jobs too so as to evade tax and child support!

Oh and the occasional drug deal! That’s ALL he’s ever done in life! Oh and he’s a HOBOSEXUAL... he uses women to park his arse overnight!

Back to top

If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Lisa Jones

Gold Member

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Australian Politics

Posts: 39047
Sydney
Gender: female

Re: If they are hell bent on keeping negative gearing.
Reply #173 - Jun 26^th, 2023 at 9:47am

freediver wrote on Jun 26^th, 2023 at 5:08am:

John Smith wrote on Jun 25^th, 2023 at 9:23pm:

freediver wrote on Jun 25^th, 2023 at 9:03pm:

John Smith wrote on Jun 25^th, 2023 at 8:13pm:

freediver wrote on Jun 25^th, 2023 at 9:03am:

John Smith wrote on Jun 24^th, 2023 at 9:52pm:

freediver wrote on Jun 24^th, 2023 at 8:40pm:

John Smith wrote on Jun 24^th, 2023 at 1:17pm:

freediver wrote on Jun 24^th, 2023 at 1:04pm:

John Smith wrote on Jun 24^th, 2023 at 12:49pm:

freediver wrote on Jun 24^th, 2023 at 12:47pm:

Do you think it is a good idea for the tax department to send people bankrupt by giving them a huge tax bill in a year in which they actually lose money?

are you saying the tax dept doesn't do that already?? Grin

Some taxes depend on how much money you actually make.

and some don't ... your point?

That people who invest in rental properties should not be singled out to pay extra taxes compared to people who invest in shares, small businesses, other forms of property etc. The same principles that apply to all other business activities should apply to rental properties.

And if, like Smith, you are completely lacking in principles, put it this way: rents will go up, not down, if you make rental property owners pay more tax. This is just another Greens idea that will actually harm the people it is intended to benefit, which is what always happens when the economically illiterate get their way.

Are you drunk again? Cheesy

Do you think it is a good idea for the tax department to send people bankrupt by giving them a huge tax bill in a year in which they actually lose money?

Irrelevant what I think. They already send people big tax bills and manygobroke whilstothersdon't. If you're broke because of it it's your own stupid fault. The tax office doesn't care either way.

Yes, fortunately it is irrelevant. But you might stop sprouting idiotic BS if you try thinking before posting.

Do you think it is a good idea for the tax department to send people bankrupt by giving them a huge tax bill in a year in which they actually lose money?

The only one sprouting idiotic bullshit is you. You think your red herring about driving people broke with a tax cheque is a substitute for logic? You're a cretin

Do you think it is a good idea for the tax department to send people bankrupt by giving them a huge tax bill in a year in which they actually lose money?

Oh look everyone! Read 👆

Five Foot Five Frodo STILL can’t answer any question you give him. His last drug fried brain cell gets so stumped that he :

1. posts a 1 liner consisting of abuse

OR

2. logs off in cyber fear

OR

3. will ask the very same question back to you

😂🤣😆

Back to top

If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Bam

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Australian Politics

Posts: 21905
Gender: male

Re: If they are hell bent on keeping negative gearing.
Reply #174 - Jun 28^th, 2023 at 6:13pm

Regarding negative gearing, there appears to be an unstated assumption that all properties where negative gearing is claimed are being rented out on the private rental market.

This assumption is false.

Some properties where negative gearing is claimed are used as Airbnbs and other short-term rentals. This is an abuse of negative gearing.

Other homes are not rented out. It is legal to have a property that's unoccupied while claiming negative gearing tax breaks. The property could be on the rental market but not currently occupied. The property could be being repaired after a particularly bad tenant has damaged the property and repairs are needed to make the property habitable. These are usually legitimate. The property could be sitting idle because the owner wants to keep it empty for various reasons. This is not legitimate, but is another abuse of the negative gearing tax break, if it is claimed.

This is why, if negative gearing is to be retained, it should have a strict activity test imposed. No Airbnbs. No empty properties just because they can afford to leave it empty. Though I prefer to see it abolished entirely, and replaced with less generous tax breaks that cannot be applied against other income unless the property is sold with an overall loss. The property owners still get a tax break, but cannot abuse it.

The sale of property brings me to another issue, the capital gains discount. This is a bigger problem for the housing market than negative gearing. Hold a property for 12 months, get a 50% discount on tax, with no activity test? This is far too generous and is grossly distorting the housing market.

The capital gains discount should be slashed, reduced to a 20% discount if it is sold after it has been leased to tenants for 10 years. Note the activity test. Empty homes don't qualify. Neither do Airbnbs. If the house is not used as actual housing, then the clock is stopped on the discount.

Furthermore, the 25% discount would only be available to Australian citizens and permanent residents. To tighten up the rules further, ban non-resident foreigners from buying Australian housing.

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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Jovial Monk Gold Member Offline Dogs not cats! Posts: 51474 Gender:	Re: If they are hell bent on keeping negative gearing. Reply #175 - Jun 28^th, 2023 at 8:08pm Hey Bam, long time no see!
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freediver Gold Member Offline www.ozpolitic.com Posts: 53355 At my desk.	Re: If they are hell bent on keeping negative gearing. Reply #176 - Jun 29^th, 2023 at 8:10am Quote: Some properties where negative gearing is claimed are used as Airbnbs and other short-term rentals. This is an abuse of negative gearing. Why do you think that?
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Bam

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Re: If they are hell bent on keeping negative gearing.
Reply #177 - Jun 29^th, 2023 at 9:11am

freediver wrote on Jun 29^th, 2023 at 8:10am:

Quote:

Some properties where negative gearing is claimed are used as Airbnbs and other short-term rentals. This is an abuse of negative gearing.

Why do you think that?

Negative gearing is supposed to be used to encourage investment in the private rental market.

Short-stay accommodations do not meet that criterion.

Are you suggesting that negative gearing should be accessible for all short-stay accommodation including hotels and motels?

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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Bam Gold Member Offline Australian Politics Posts: 21905 Gender:	Re: If they are hell bent on keeping negative gearing. Reply #178 - Jun 29^th, 2023 at 9:14am Jovial Monk wrote on Jun 28^th, 2023 at 8:08pm: Hey Bam, long time no see! I have been busy dealing with other matters. With a new, better (though not perfect) government elected last year, I felt less need to be posting on here.
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Jovial Monk Gold Member Offline Dogs not cats! Posts: 51474 Gender:	Re: If they are hell bent on keeping negative gearing. Reply #179 - Jun 29^th, 2023 at 10:15am Nice to “see” you anyway!
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