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"Really need to shake as many properties out of super" ...why?...

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mudguts

13,521 Posts.

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19/04/23

09:32

Post #: 67347055
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Originally posted by LG Bear ↑

The govt is under pressure to make changes and you can see the media building the case for change daily. Really need to shake as many properties out of super and large holders of residential property for short term rentals. Wont solve the under supply but will help in short term.

Sounds like they are likely to cap neg gearing. Remove cgt discount from existing residential, but keep for new builds. Tax incentives for developers of multi residential buildings. I think they will do this when they introduce the new super tax change.

The ATO 'blitz' on landlords will be used to add to the business case to crack down and add to the 'tax bludgers' narrative dont think it will be like robo debt but im sure there will be a few bad apples made example of! Not sure what the fines for individuals doing the dodgy on their tax is but prob not cheap. Will no doubt focus on the short term rental market imo as that will help free a few up quickly. Pays to use an accountant I know a few who have done their own tax for years not sure how many will hold up to a forensic audit.

The tide is certainly changing and think we are going to see more and more properties coming on the market. I dont think prices will come down dramatically but incrementally, unless there is a maj shock/war/ recession and resultant high unemployment.

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"Really need to shake as many properties out of super" ...why?

those properties are rented as cant be owner occ...how does that help?
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