PM announces landlords will have to do their bit!!

If one is giving rent that is free by choice or force, or has dropped rent a very large amount in the absence of evidence that market rents have dropped to that extent, the ability to claim a deduction beyond rent actually received is certainly in question. If the ATO does not provide any public advice on this matter when the legislation is through, I will be seeking a private ruling to find out. These laws may effectively abolish negative gearing. I am sure the ATO will be looking at landlords who are claiming large deductions in the absence of any or minimal rent.

 

This. With the number of misinformed and clickbait articles going around regarding the idea that those who have lost their job can so easily take the option to refuse payment of rent is creating this us vs them mentality and almost making it seem normalised and acceptable to do so.

I'm part of a small-ish FB financial community for those learning basic finance and there are many members arguing that because they've heard landlords can go repayment free for 6 months, they should have 6 months rent free in return. Minimal truths - some aspects being sensationalised with inaccurate content so the ill-informed jump on the moral high horse and scold those who think any different.

Being more financially conservative, I'm all for strategising and planning to have emergency funds for volatile periods like this. I'm also a landlord. We need to adapt to how we need to live currently and change our lifestyle habits. I acknowledge many will struggle in the near future and shelter/food/health are the most important aspects to life. Everyone should prioritise each other's well-being in those areas at this time however I will criticise those who think they can take advantage of the situation at the expense of others, feel entitled to assistance from governments, communities and wider society but still refuse to adapt their lifestyles to suit.

PS - I am still largely uneducated and unconvinced to what I will be doing if the request came for a change in repayments from the tenants at the IP.

 

Is this the guy in Hawaii having a beer while people’s homes burned?

 

I assume you don’t mean landlords in Perth.

 

The guys targeting landlord same way Chairman Mao targeted land owners. It’s popular with the masses - look at socialist countries like Germany or France. Thank god Xi and Donald are still in power or we may as well slaughter all the land owners.

Fascinating he’s singled out landlords as opposed to say big miners or foreign tech companies not paying tax.

 

Well next time you vote , keep that in mind.
We get the government we deserve and this one has simply wasted billions so far on useless stimulus.
Someone actually tried to take on the big miners to get them to pay their way but the electorate was horrified .
Someone still has to pay !!!!.

 

The workers will pay and the companies and rent seekers will go forward paying as much tax as they have in the past.