One million Australians are negatively gearing, new tax figures show
ABCNearly half of all Australian landlords have negatively geared properties, according to new figures that show the highest earners are hauling in tens of billions of dollars from tax concessions and loopholes. Capital gains tax concessions will "cost" the federal budget $52 billion this year, and super tax concessions another $51 billion, according to Treasury's annual tax report. Labor vowed to halve it at the 2016 and 2019 elections, together with a promise to rein in negative gearing, which allows landlords to write rental losses off their tax liabilities. Reform advocates say negative gearing and the CGT discount combine to make housing investment an attractive vehicle to minimise tax, if landlords use rental losses to slash their income tax and then make the losses back when the property is sold.
History of this topic
Do Australia's super tax concessions take from the poor and give to the rich?
ABC
More than 430,000 Australians could have owned their own home today – if not for negative gearing inaction from seven PMs
ABC
Peter Dutton makes Labor's case that tax breaks for landlords ought to be restricted to those who build homes
ABC
Greens demand negative gearing and capital gains tax phase out in 'help-to-buy' negotiations
ABC
Negative gearing and capital gains tax discount set to cost the budget $20 billion a year within a decade
ABC
Federal Budget 2022:Millions of Aussies will be poorer next year without tax rebates
Daily Mail
House prices rising at record rate, locking some buyers out of the property market, CoreLogic finds
ABC
Labor to limit negative gearing concessions to new properties from January 1
ABC
Election 2016: Government maintains negative gearing stance despite Treasury documents
ABC
Explainer: Negative gearing and capital gains tax
ABC
High-income earners benefiting from property tax concessions 'beside the point', Malcolm Turnbull says
ABC
Negative gearing: Tax deduction's removal 'would boost Commonwealth revenue by $5b annually'
ABC
Negative gearing changes good for economy if home prices fall: David Murray
ABC
Tax concessions for superannuation cost almost $10b more than GST exemptions
ABC
Tasmanian budget: $590m GST windfall to be spent on roads, not teachers, nurses
ABC
Western Australia to receive $499m windfall from Federal Government to make up for lost GST revenue
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