So say I earn $500,000 , my tax obligation would be $198,097 each year
By not doing anything, I paid $1,980,970 tax over ten years
Negative Gear
I need to reduce the income to $180,000 so that I only pay $54,097 in tax. ( A tax difference of , $144,000 ie.$198,097 minus $20,797 is $144,000)
So I need to negative gear $320,000 in 12 months thats $27,000 per month, say by buying 21 houses ( each house $450,000 at 3.4% interest rate)
10 years on, the houses appreciate by $150,000 to be $600,000 each.
In ten years I only paid $540,970 in tax total.
Have a house portfolio of $12,600,000 (ie $3,150,000 Price appreciation)
I did "sacrifice" $3,200,000 over ten years but I gain so much more !
- Forums
- Political Debate
- How would you improve the Australian tax system?
How would you improve the Australian tax system?, page-328
- There are more pages in this discussion • 36 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
RDN
RAIDEN RESOURCES LIMITED
Dusko Ljubojevic, MD
Dusko Ljubojevic
MD
Previous Video
Next Video
SPONSORED BY The Market Online