Tuesday Oct 2nd, 6.30pm
1/27 Hardware La, Melbourne
Presenter: Philip Soos
RSVP $5 entry
Does Negative Gearing increase rental supply? Is it a path to wealth or a black hole?
Download the full report (PDF)
Philip Soos has assembled an extensive array of data to dispute the policy’s effectiveness in delivering housing affordability.
Julia Gillard’s recent statement: ‘We think that, you know, an abolition of negative gearing would cause distortions to the property market that we didn’t want to see.’, must be disputed with fact.
Participants in the event will learn just how much this write off has cost tax payers over the last 20 years, how this behaviour has affected housing supply and whether the quarantining of negative gearing 1985 – 87 genuinely affected real rents.
From the report:
Despite the fact that negative gearing has existed for a long time, much assertion but surprisingly little evidence has been put forth to justify this policy across all classes of investment, including the residential real estate market.
We hope you can join us for this long overdue analysis.
RSVP $5 entry
Photo courtesy of haile @ Clker
In my opinion the probability that the severe slump in the Australian residential property market will turn into a ‘full scale crash’ is very high. Rapid and fundamental demographic change is making the housing market one in which ‘net downsizers’ prevail. Check also ABS predictions for the numbers of young Australians who will age into the ‘first home buyer’ age bracket. There is in my opinion only a VERY slight chance that the present federal government would take even the first steps in that direction.
i have a radical idea ,how about let renters claim thier rent as tax deductible? dont seem right that rich property collectors get all the breaks and poor renters get screwed. guess thats what we expect from wayne swan and all his mates on parlimenthill. wonder if any pollies rent? nar reckon most of em have a negatively geared property portfolio.
Tony – you are right re demographics. Make sure you find 30 mins to watch Leith van Onselen’s recent slideshow (with audio) for our 121st annual dinner
Daniel – yes Philip was hinting at that in his report – the poor should be given the ability to write off expenses. Many talked about this at the Tax Summit last year, so at least Swan & co are creating forums for such discussion.
Re pollies and their interests, interesting that Nick Xenophon has the most investment properties of all senators. He is vocal about any issue to do with his secret subsidies.