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Cap increase in rental rates at 3% p.a., page-46

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860 Posts.

07/05/22

15:44

Post #: 61266416
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Originally posted by pugsley100: ↑

scrapping negative gearing

Maybe one day in the future a Government may phase out allowing ordinary income earners to reduce the amount of tax deducted from their ordinary pay so that they can afford higher monthly repayments on their interest only loans, meaning they can outbid first home owners on property purchases.

If they did that the changes would probably be grandfathered to keep it fair and people taking advantage of such tax arrangements might hold onto their rental properties for longer.
It's interesting that the number of first home buyers that are buying investment properties as their first purchase is increasing.

However, at the moment with the numbers in the Federal house of Parliament close it seems that no one is in a position to spend the political capital required to push major tax reform through.

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Paul Keating scrapped Negative Gearing once, did not take him long to re-instate it. Check your history.
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