Negative gearing: That's not a scalpel, this is a scalpel!
Source: Taxation In Australia Journal Article
Published Date: 1 May 2016
With tax reform high on the political agenda and this year's federal Budget touted as the government's tax platform, the single most debated tax issue has been about negative gearing and the recent proposals to wind it back. Restricting negative gearing, however, is not a new issue. In the 1980s, the government took thev view that the general taxpaying community should not be obliged to subsidise the acquisition of investments by a particular group of taxpayers in this way.
This article is intended to shed some historical light on old provisions of the Income Tax Assessment Act 1936 (Cth) which have once again become very topical. It is aimed at providing tax advisers with an understanding as to how the then negative gearing limiting measures applied, where the sections of the Act were located and what to expect going forward in light of recent comments made in the tax reform debate.
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Details
- Published By: David Krunic CTA
- Published On:1 May 2016
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