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Neg gearing - Gone?, page-218

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thevagrants

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10/12/14

15:52

Post #: 14439751
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Originally posted by gcadenaz ↑

uummmm.... just what the actual hell are you talking about??

no ones gives a rats backside if YOU think it's difficult, or takes diligence (or whatever) to negatively gear a property ... it doesn't make the SLIGHTEST bit of difference how many lattes or holidays you need to sacrifice in order to negatively gear a property.

the FACT is that negative gearing is a way to take a speculative investment, that, when you add everything up, is a NET LOSS, and make the tax payer take the burden by offsetting the NET LOSS against your taxable income.

YOUR money and YOUR investments and YOUR sacrifices are YOUR business .... Why should you be able to offset your losses to artificially decrease your tax burden??? .... NO other investment in the WORLD allows this.

I mean, for gods sake ... just imagine if I did as you so sanctimoniously describe, and sacrificed lattes for a year, kept my utterly beat up 1995 honda accord for another 2 years etc etc .... just to save 20K to invest in gold .... and then a year from now I sell the gold for a loss and say, "oh well, bad luck ..... to the tax payer, because I'm going to decrease my tax burden by the amount I lost"

people would lose their heads!

NOW ... as ridiculous as that sounds ... negative gearing is WORSE because it allows you to make CAPITAL GAINS on the property value while offsetting any net negative rental yield against what you (and EVERYONE else) owes to the tax man..... throughout its entire lifetime ... It's absolutely absurd!

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Absurd, but awesome.
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Neg gearing - Gone?, page-218

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Neg gearing - Gone?, page-218

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