Negative Gearing MythsApr 24, 2020
Do you have a negatively geared property?
Here's some things you should know:
- negative gearing is not a good thing
- you will only get your money back if the property increases in value
- paying minimum loan payments will keep the property negatively geared for a long time
- you only ever get back a percentage of your tax deduction as cash in the hand refund. If you are on the 39% tax bracket - then you will only get back $39 for every $100 you spend. (Don't spend you money just for a tax deduction!)