keep the grants, get rid of the bs that is negative...

  1. 666 Posts.
    keep the grants, get rid of the bs that is negative gearing.

    "Deduction of negative gearing losses on property against income from other sources for the purpose of reducing income tax is illegal in the vast majority of countries, the exceptions being Canada, Australia, and New Zealand."

    "Negative gearing is permissible in Canada and New Zealand, but the taxation and finance regulation systems do not permit it to take place on such a large scale as in Australia."

    http://en.wikipedia.org/wiki/Negative_gearing_(Australia)

    Yes Australia is different!
 
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