Because they listen to the ,amplified by a corrupt media , shouting of near future corpses who have no concern about the future generations.
Defy19 on
When the Easey St killer was arrested an article quickly popped up on realestate.com about the capital gains on the property since the gruesome murder took place.
We have a very strange psychology around property in this country and it’s driven by some powerful interests including the media. Prices going up is always spun as a good news story regardless of the context, be it a housing crisis or a brutal murder.
yew420 on
Scomo and Fat Joe had a look at negative gearing changes? Probably in the favour of investors no doubt.
Fist-Fuck_Enthusiast on
There are so many aspirational voters in Australia, and they’re easily swayed by fear
There also seems to be a lot selfishness among them. There’s a pervasive attitude that if someone else is better off, then *they’re* losing something
brackfriday_bunduru on
Because as a property investor, we’ve got them over a barrel politically. Even if we didn’t, they’re all property investors themselves. Why would they do something that’s going to negatively impact themselves? Also, if you want to vote them out, go for it. Whoever you vote in, is going to be another property investor. Literally, why wouldn’t you invest in property when the government will literally tailor laws to benefit you?
freakymoustache on
Because they are a bunch of greedy pussys that only serve them selves and the rich, we are just a means to an end for them
Meng_Fei on
Seems like something else is going on – the article itself claims that the percentage of landlords who are negatively geared is at its lowest level since the late 90s, and has been falling every year since 2009.
Presumably this means that the number of investment properties is consolidating in the hands of fewer people. In which case, why not simply cap the $ amount that can be claimed back via NG each year? That shouldn’t scare the always quoted “mum and dad investors with one property”, and people with multiple properties can still claim NG, just not in huge amounts.
DalbyWombay on
It’s because property is treated less like traditional investment, like Shares with the associated risks and more as sure fire wealth generation.
The fact that it costs the tax payer is lost when it comes to wealth. We’ve become a nation driven by less by greedy on all sides and have completely lost the notion of a greate wholesome community of yesteryear.
The only way to change would be electing leaders with a stomach to take on the likes of big business, property developers and the media but this is Australia.
karma3000 on
Surprise! Conservative media doesn’t want changes to negative gearing.
TheTMJ on
Because the populous is monkey brain and has been conditioned to think taxes bad.
It’s exactly like the water canon experiment, it’s now at the point where the monkeys that got hit with the canons are cycled out and the only ones left are those who only got beat up by the mob and have no idea why they can’t go for the banana but they must never go for it.
drolemon on
Labor and Albo should chuck a John Howard and say something like “there will be no changes to negative gearing under the government I lead” and then just do it anyway…
jadrad on
Because they conscripted millions of Australians into this investment scheme to raid the wealth of future generations, and those millions of Australians want to keep their gravy train going.
It’s a fundamentally corrupt system that the corporate media (who own real estate websites) profit from, so any attempts to reform or remove it results in screaming from all the entitled rent seekers.
The only way it will ever be removed is once this mother of all wealth transfers results in the majority of the population being rent slaves, after which they will finally have the voting power to change things – but even then, the corporate media will be doing everything it can to brainwash the masses into believing they could one day be rent seekers themselves, so changing the system will only hurt them from easy riches! Works for tax cuts for the wealthy.
NietzschesSyphilis on
OP – this is paywalled for many of us.
EternalAngst23 on
I just wish that SMH would stop paywalling every single one of their articles.
new-user-123 on
Think a lot of people here haven’t read the article
I think it’s a really great piece of journalism that basically says that property speculation and the tax distortions from it are a blight on Australia and backs it up with a decent array of facts. Unfortunately, while many economists see a small array of fixes, it is political poison due to cultural factors.
ASinglePylon on
The average Australian is a selfish prick.
carmooch on
Negative gearing reforms are absolutely a case of be careful what you wish for. The housing market has proved it is anything but predictable, and no one really knows what the outcome may be.
Interestingly, the number of negatively geared properties peaked in 2012 and has been declining ever since.
pk666 on
real [estate.com](http://estate.com) wholly owned my News Corp is worth 1 billion
The Australian Newspaper wholly owned my News Corp is (financially) worth zero.
Inflated house prices > bankrolls online listings > bankrolls billionaire media owners > bankrolls their putrid hold on pollies > bankrolls everything they want from Canberra that screws us and benefits them – including no action on climate change, not taxing the rich, continued monolpoly media ownership, no gambling regulation and -fo course- inflated house pricing.
plutoforprez on
I worked for a tax depreciation company for a couple of years, over the 2019 election when this was last making the rounds. They sent an email to every customer who’d ever used their service essentially telling them to vote LNP because Labor’s dangerous plan to ruin their tax deductions would cripple their investment.
We had so many clients calling up and complaining, and honestly I was furious when I found out — staff didn’t receive marketing updates so we always had to deal with clients calling in rambling about nonsense we were unaware of, but this time I was on their side. The 2019 election was a crucial one, it was time to handover power and considering everything that’s happened since then, we absolutely shat the bed.
So if you think the insidious media are the only ones controlling the narrative, you’re absolutely wrong. Landlords are a deeply, deeply protected species in this country.
20 Comments
Lighter wallets. That’s why.
Because they listen to the ,amplified by a corrupt media , shouting of near future corpses who have no concern about the future generations.
When the Easey St killer was arrested an article quickly popped up on realestate.com about the capital gains on the property since the gruesome murder took place.
We have a very strange psychology around property in this country and it’s driven by some powerful interests including the media. Prices going up is always spun as a good news story regardless of the context, be it a housing crisis or a brutal murder.
Scomo and Fat Joe had a look at negative gearing changes? Probably in the favour of investors no doubt.
There are so many aspirational voters in Australia, and they’re easily swayed by fear
There also seems to be a lot selfishness among them. There’s a pervasive attitude that if someone else is better off, then *they’re* losing something
Because as a property investor, we’ve got them over a barrel politically. Even if we didn’t, they’re all property investors themselves. Why would they do something that’s going to negatively impact themselves? Also, if you want to vote them out, go for it. Whoever you vote in, is going to be another property investor. Literally, why wouldn’t you invest in property when the government will literally tailor laws to benefit you?
Because they are a bunch of greedy pussys that only serve them selves and the rich, we are just a means to an end for them
Seems like something else is going on – the article itself claims that the percentage of landlords who are negatively geared is at its lowest level since the late 90s, and has been falling every year since 2009.
Presumably this means that the number of investment properties is consolidating in the hands of fewer people. In which case, why not simply cap the $ amount that can be claimed back via NG each year? That shouldn’t scare the always quoted “mum and dad investors with one property”, and people with multiple properties can still claim NG, just not in huge amounts.
It’s because property is treated less like traditional investment, like Shares with the associated risks and more as sure fire wealth generation.
The fact that it costs the tax payer is lost when it comes to wealth. We’ve become a nation driven by less by greedy on all sides and have completely lost the notion of a greate wholesome community of yesteryear.
The only way to change would be electing leaders with a stomach to take on the likes of big business, property developers and the media but this is Australia.
Surprise! Conservative media doesn’t want changes to negative gearing.
Because the populous is monkey brain and has been conditioned to think taxes bad.
It’s exactly like the water canon experiment, it’s now at the point where the monkeys that got hit with the canons are cycled out and the only ones left are those who only got beat up by the mob and have no idea why they can’t go for the banana but they must never go for it.
Labor and Albo should chuck a John Howard and say something like “there will be no changes to negative gearing under the government I lead” and then just do it anyway…
Because they conscripted millions of Australians into this investment scheme to raid the wealth of future generations, and those millions of Australians want to keep their gravy train going.
It’s a fundamentally corrupt system that the corporate media (who own real estate websites) profit from, so any attempts to reform or remove it results in screaming from all the entitled rent seekers.
The only way it will ever be removed is once this mother of all wealth transfers results in the majority of the population being rent slaves, after which they will finally have the voting power to change things – but even then, the corporate media will be doing everything it can to brainwash the masses into believing they could one day be rent seekers themselves, so changing the system will only hurt them from easy riches! Works for tax cuts for the wealthy.
OP – this is paywalled for many of us.
I just wish that SMH would stop paywalling every single one of their articles.
Think a lot of people here haven’t read the article
I think it’s a really great piece of journalism that basically says that property speculation and the tax distortions from it are a blight on Australia and backs it up with a decent array of facts. Unfortunately, while many economists see a small array of fixes, it is political poison due to cultural factors.
The average Australian is a selfish prick.
Negative gearing reforms are absolutely a case of be careful what you wish for. The housing market has proved it is anything but predictable, and no one really knows what the outcome may be.
Interestingly, the number of negatively geared properties peaked in 2012 and has been declining ever since.
real [estate.com](http://estate.com) wholly owned my News Corp is worth 1 billion
The Australian Newspaper wholly owned my News Corp is (financially) worth zero.
Inflated house prices > bankrolls online listings > bankrolls billionaire media owners > bankrolls their putrid hold on pollies > bankrolls everything they want from Canberra that screws us and benefits them – including no action on climate change, not taxing the rich, continued monolpoly media ownership, no gambling regulation and -fo course- inflated house pricing.
I worked for a tax depreciation company for a couple of years, over the 2019 election when this was last making the rounds. They sent an email to every customer who’d ever used their service essentially telling them to vote LNP because Labor’s dangerous plan to ruin their tax deductions would cripple their investment.
We had so many clients calling up and complaining, and honestly I was furious when I found out — staff didn’t receive marketing updates so we always had to deal with clients calling in rambling about nonsense we were unaware of, but this time I was on their side. The 2019 election was a crucial one, it was time to handover power and considering everything that’s happened since then, we absolutely shat the bed.
So if you think the insidious media are the only ones controlling the narrative, you’re absolutely wrong. Landlords are a deeply, deeply protected species in this country.