Of course negative gearing benefits go mostly to the already wealthy… they can afford it

ABC facts checks claims about negative gearing

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)

Continue reading “Of course negative gearing benefits go mostly to the already wealthy… they can afford it”

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