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hi,the tax avoidance is in the conversion of income to capital...

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boomeronrations

6,800 Posts.

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30/03/22

18:13

Post #: 60527908
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Originally posted by Glug: ↑

My post was 7 years ago, long before the Labs floated the idea.

Anyway, NG is a tool used for tax avoidance with no gain for Australia, close the loophole on established properties and people will invest in other areas that may actually benefit Australia.

Find a different investment if you want to claim a tax loss, or find an investment that makes an actual profit.

It makes no logical sense for Australia to forgo tax just to subsidize someones tax avoidance exercise.

5 years of NG on new builds is an ample concession if you still want to invest in real estate.

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hi,
the tax avoidance is in the conversion of income to capital gain.
Your 5 year concession on new builds just puts lipstick on a pig, still too much tax avoided.
Until you fix cgt , negative gearing a problem , fix that and most of the advantages go away.
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