Sunday, June 26, 2016

negative gearing & ledger

Quotations:

qanda_2015_ep29

Richard Di Natale: [negative gearing; ledger; consumption; ] Thanks for the question. Thanks for the question and I'm really pleased to be able to answer that. We've been tackling the issue of revenue head on. We released the policy into negative gearing which we think is an important reform. It will bring in 40 billion dollars over the next decade. We think the concessions around superannuation need to be addressed and we've taken that issue head on. I think multinational tax avoidance is a big issue and it is on their revenue side of the ledger. I think that you do those things before you start increasing something like a consumption tax. You've got deal with those issues first. They are huge distortions in the market. Now, if we talk broadly about what the economic future for this country looks like, we've got a government that has hitched its prosperity on a business model that's failing; we've got a government that has said that it's committed to coal, to coal exports when the market is telling us that it's an industry on the way out. We've got India not longer buying our coal; we've got the market in Japan flattening; we've got China who are no longer ...

Definitions:

negative gearing:
a tax reduction available to somebody who has borrowed money to pay for an investment such as shares or a house and whose income from that investment is less than the loan repayments;

ledger:
a book in which a bank, a business, etc. records the money it has paid and received;

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