Greens to curb negative gearing

Greens leader Richard Di Natale will say it is "time to dismantle the rigged system that privileges investors and landlords over everybody else". "Australia is facing a housing crisis. Everyone needs a home where they can feel secure, live comfortably and be part of the community,"

While I can see the obvious benefit in removing investors from competing in the market, surely they are an integral part of providing those that cannot afford to buy "...a home where they can feel secure, live comfortably and be part of the community".

One property only in $51 billion plan to curb negative gearing

Thoughts?

 

The Greens, like Pauline Hanson, can say anything they like.

The chances of either gaining the majority required to implement their policies are extremely slim.
Marg

 

... thank goodness for that. Whilst these ideas might create some short term affordability, in the long term this does nothing except widen the wealth gap even further.

 

I'll surrender my investor 'privileges' when Mr Di Natalie surrenders his superannuation 'privileges'

 

He's not entitled to superannuation like every other worker?

 

Do you classify politicians as workers?

 

A lot of effort goes into ensuring you can bill the govt for a holiday on the GC. So yes.

 

The GC is the last place I would go for a holiday.

Too many Mexicans for my liking .

Plus it is only an hour's drive from home. Can go there anytime foe a day trip, a swim, dinner, a show, ...

 

Of course he's entitled to super like every other work...the problem is his super is not like the super of every other worker. His will be considerably more generous than the super of ordinary Australian workers. Don't believe me, check out their super here: Superannuation benefits for senators and members – Parliament of Australia

 

I am making the assumption that we as investors have worked hard and taken the opportunities that Australia offers every citizen to increase their income, to invest and create wealth. Similarly, I am sure politicians will say they too have worked hard for their pensions. If the legal opportunities to create wealth in a capitalist country are viewed as 'privileges' then so too must the legal privilege of a politicians pension. The political discourse at the moment is starting to sound a little Animal Farmish.

 

Me too. Haven't been there for a solid decade. I did drive by on the way to Lismore a few years ago.

Humour aside a lot of people like Owlet believe politicians have a ripper defined benefits super scheme. Not the case for anyone elected after 2004(?). Most of today's serving pollies get a super scheme similar to the rest of us.

 

Apologies - off topic post.
Apparently, I do not have 'privileges' to create a thread. Have the membership rules changed?

 

The Greens have some good ideas, they may not be a majority party but a lot of people want change, pressure against negative gearing is building and it´s a mainstream issue now. The damage it is doing is clearly visible and change is coming.

 

It is good to hear that politicians super is now in line with the rest. We do not have any investor privileges that are different to other Aussies - we can work, two or more jobs if we like, we can be frugal, we can make choices, we can spend or invest, we can NG or use trusts and for those who genuinely can't work, there is a welfare system to support them, nicely propped up by the stamp duty, land tax, rates, employment of trades, PMs and other indirect ways we support society and make a contribution. What some Australian's have that others don't is the right mindset - playing Robin Hood is not going to change that.

 

You must have been naughty.

 

If they get rid of negative gearing then rents will be pushed skyward.

What incentive will investors have to create and purchase a house for those unable to buy to live in.

Will they allow $10,000 tax free rental income p/y to offset this? I think not.

 

Landlords will do what they like in the short term, but rents will ultimately meet the market.

 

Problem is that Labor is heading in a similar direction, its all shaping public discourse at the moment, and we can have no doubt Labor will have the Greens support.

 

There will be less supply.

 

The market demand will change ; share houses, fewer bedrooms, downsize etc.

Just because your cost increases does not mean the markets ability to meet that increase will.