If Negative Gearing was Scrapped!!!

I have learnt to never say never lol... The government has so much debt its not even funny.
I think in the near future it would be scrapped or capped.

 

Thats the answer we will have to wait on... I reckon there will be some things we can claim and other things we can not claim.

 

I never look at history over a 10 year period, i try to look over a 100 years....In the 80's NG was going to be scrapped as well.

 

Yeah would be difficult to tax those who havent benefited from capitalism.

and hey Im on the highest tax bracket and i dont mind 'socialist' activities such as roads, schools,hospitals,a police force, defence force. They come in handy every now and then.

 

Well aware, never once did I say I have only ever looked at the last 10 years...

 

Inflation should not be taxed. The CGT discount was a poor attempt to not tax inflation. I would support a return to the original system. The cost base was indexed to inflation and the gain divided by 5, tax worked out on one-fifth and multiplied by 5.

 

My believe is NG will never be abolished. Its political suicide. Tweaked possibly (i.e like Bill Shorten's proposal), but never scrapped. Our polies have too much to lose in scrapping NG.

https://www.facebook.com/video.php?v=10150628093264978

 

Turnbull, stop dithering on tax reform and tell us what you really think

 

Shhhhhhh the world is black and white

 

This is one reason it will be a vote winner, not political suicide at all.
People dont like polies setting laws to suit themselves to the detriment of the greater populace.

 

It was said somewhat tongue in cheek. But I'll bite.

Sure they come in handy. But I bet many public run organisations could be run better and cheaper. So much waste in public service.

Don't get me wrong my wife works in social service industry. But she has worked in several organisations where people were collecting a wage and didn't even know what there job was. They were just there because the government funding. Then when it runs out they move into the next thing. It's public funds at work.

I put it to you this way, if private enterprises we're run the way the public sector runs they would probably be bankrupt.

Am I saying I want to scrap essential services or charge directly for them no, but I'm sick of my hard earned being wasted.

 

Probably be bankrupt? Your too generous.


Definitely be bankrupt and many times over! I've seen enough of the public sector to know the lack of accountability and utter incompetency is staggering.

 

Thanks Leo. I edited the post and inserted probably as I was trying to be diplomatic.

 

yes the corporate world is a continuous shining light of accountability and efficiency casting a shadow over the depraved public sector.

 

@Caltan i know mate .

I'm not the most diplomatic person though..

 

Your missing the point if I run a small business and lose my money it's my fault and guess what it's mine to lose.

If the government runs a gigantic business and can't balance the books and spends more than it earns and destroys the economy and and and.... It was not theirs to lose it was yours mine and all the other people who contribute to society over their lives by paying taxes.

I guess we are going to have to agree to disagree on this one. I don't want to bring the tone of the forum down by lamenting on my views.

N.B. I'm not suggesting for one minute that people can't contribute to society without paying taxes... Volunteers across Australia, your contribution is much appreciated from me!

 

Me neither in person. But on forum I am trying to be.

 

A pretty good reason why they should scrap NG then.

 

It's a better reason why they should run more efficiently, rather than meddling with taxes.

 

Scrapping the NG would boost efficiency at the ATO and help balance the books..win/win