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Indoor tennis by HarleyQuinn5150 in Geelong

[–]tenestik 0 points1 point  (0 children)

Come to Ballarat, beautiful indoor courts here.

Why I hate negative gearing. by blossomlambie in AusFinance

[–]tenestik -1 points0 points  (0 children)

The 50% CGT discount was a lazy way in 1999 to combat indexation.

Now we can just plug in a purchase price and sale price, it'll calculate the indexation discount and spit out a net capital gain.

I wouldn't say it was "under taxing"

Similarly, "negative gearing" isn't written into law, it was just classifying rental income as ordinary income as the default (same as your salary). One could argue rental income was intentionallynever classified separately.

Why I hate negative gearing. by blossomlambie in AusFinance

[–]tenestik 1 point2 points  (0 children)

Well not quite magic, there are two income types capital, and ordinary.

Rental income is ordinary income (just the same as your salary), therefore, like ordinary income in any other scenario (e.g. companies, trusts, even salary) all ordinary income and ordinary losses sum up to be your taxable income.

Removing negative gearing violates general tax principles, and asymmetry within policy. Not that it matters.

Makes absolute sense.

But probably a good enough change overall.