Negative gearing is a system where the rent earned on a property – after removing other expenses – doesn’t cover the interest on the mortgage. You can then take that loss, and use it to offset other taxable income. It’s a system where you deliberately run what is a effectively a business at a loss, hoping to offset that loss later by selling the property and pocketing capital gains (which will also be tax discounted)
Want reliable power? Don’t bank on coal says the AEMO
Hmm… one of the key arguments made by the LNP and their supporters is the need for coal (and, to a lesser extent, gas) power stations to provide reliability. Even their nod at a renewables option – the Snowy 2.0 project – is about providing reliable baseline power.
So what does the Australian Energy Market Operator say? “Extreme weather over summer could reduce the output of COAL, GAS and HYDRO power generators and cause problems with the reliability of electricity supply”
Following up on last night’s post, let’s look at tonight’s budget. First off, that tax cut.
So… Peter Costello, one of the major contributors to the problems with the budget, is calling for income tax cuts. Apparently, the levels he left it at aren’t right anymore.
So the Newman government, in its latest attack on anything sensible, is slashing the feed-in rebate for solar power – from 44c a kilowatt/hour to a mere 8c kw/hr. This is an absolutely insane idea – crazy crazy crazy stuff.
Cool. 2011 Census results are out! I love Census data – it’s always so interesting.
As a militant atheist, though, the first thing I checked out was the religious affiliation breakdown. Great news: we’re continuing our advance.