Ann: Drilling Extended for Nb-REE and Cu-Au Targets, page-157

@bigcon

Think you will find foreign ownership is limited to certain types of properties and I don't mind overseas buyers, as they are good for the apartment developments that many Aussies aren't into. I just think if the foreign owned property is not rented, occupied or developed, they should pay a premium in land tax.

Investment properties are very much needed for this country as not everyone owns, or can afford to. Some may even rent whilst constructing their home. So you need to incentivise landlords, otherwise you have what happened in the late 80's when they tried to get rid of rental deductions. That is when they had to bring in building depreciation (capital works deductions) to get the investors back into the market. But why shouldn't you be able to to depreciate a depreciating asset anyways?

Not sure why you have a problem with negative gearing, you buy an investment property in a company name, your expenses are deductible, why is there an issue extending those rights to an individual or trustee? I don't think a lot of people understand it to be honest. Negative gearing means you are recovering cents in the dollar on a loss, it is not a black art the wealthy use to dupe the system. It is a tool that make wealth creation accessible to more Australians. Someone that makes $120 per annum makes a loss of $10k on their property their tax rate goes from $29,467, to $26, 217, so their $10k loss becomes a $7k loss, but it is still a loss.