If Negative Gearing was Scrapped!!!

If elected (if), would not be surprised to see Labor very much water down their own policy, or be forced to drop it. If memory serves correct, said they would seriously look into it before they last came into power. Nada resulted.

Too many powerful lobbiests who have a strong interest in keeping NG no matter what party is elected. These days I'm very much cynical on any major strucural changes being affected by either party. What is said before an election, and what is done is usually quite different unfortunately.

 

Yeah, I dunno.
If they grandfathered in the changes the old fogies would be the least affected.

 

Good on you @jpcashflow - however, I am quite late to the game and we are currently heavily dependent on the tax return from our two investment properties. If negative gearing was gone, then that's about $7500 I have to add on to the house rent to make up for it, which is roughly $150 per week extra - sounds like nonsense and crazy!

 

Your type of situation is certainly informing both main political parties that whatever policy is made on residential property it should be grandfathered. A government does not have a licence to change its minds on policies which have long term impact on existing investors. Thankfully, many politicians are invested in the residential market and should know what would happen when they fiddle with negative gearing.

 

What's your approx. difference between weekly rent and your mortgage repayments?