Latest / Best of Business / Murray Olds: Australian correspondent on the Australian Government reviewing negative gearing, housing taxes

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Murray Olds: Australian correspondent on the Australian Government reviewing negative gearing, housing taxes · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talks. There'd be
• 0:12
  Speaker 1: follow this and our wide range of podcasts now on
• 0:15
  Speaker 1: iHeartRadio International Correspondence with Ends and Eye Insurance, Peace of
• 0:20
  Speaker 1: Mind for New Zealand Business, Murray Olds.
• 0:23
  Speaker 2: I'll correspondent for that's Mars.
• 0:25
  Speaker 3: I feel a bit sick I paid her out on Tuesday. Now, Well, I.
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  Speaker 2: Mean, you know, like, I feel like the AFL guys
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  Speaker 2: have actually done a bit. They're obviously not very good
• 0:34
  Speaker 2: at negotiations, because if you're paying that kind of money,
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  Speaker 2: you get to say five bangers.
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  Speaker 4: Don't you, Mike, I would have got crowded house much
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  Speaker 4: more relevant to Australia.
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  Speaker 2: Do you reckon AFL fans like Katie Perry, Well, I look.
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  Speaker 3: And most of them I'd be bogans like me. They wouldn't.
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  Speaker 3: They would never have heard of her Na.
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  Speaker 2: So you probably want like nickel Back or something like that,
• 0:55
  Speaker 2: don't you Nickelback?
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  Speaker 3: I don't know them either, muzz Come on may.
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  Speaker 4: No, mate, no, no, no, honestly, give me a Charlie
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  Speaker 4: Musselwide or taj Mahal.
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  Speaker 2: Okay, yeah, you're your old school bogains, So I'm going
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  Speaker 2: to give you that now listen, let us go in,
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  Speaker 2: which is also cool. What's going on with the labor
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  Speaker 2: policy on investment properties? What's going on here?
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  Speaker 4: This is a policy a bit like Harry Potter and
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  Speaker 4: the person who must never have his name used, which
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  Speaker 4: is Voldemort.
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  Speaker 3: This is negative gearing. It's a policy. It's been around
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  Speaker 3: for about thirty years.
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  Speaker 4: Basically, if you have an investment property, and a fair
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  Speaker 4: number of Australians do, if you pay more and outgoing
• 1:33
  Speaker 4: so they put a new kitchen in or do up
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  Speaker 4: the bathroom where you're paying strata fees, repairs rates and
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  Speaker 4: so on, you can claim that as a big tax deduction,
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  Speaker 4: massive tax breaks for negative geared properties if you spend
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  Speaker 4: more on the property than you make and rent. Okay,
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  Speaker 4: So that's and also there's a special capital gains tax
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  Speaker 4: component that applies to investment properties. So the last two
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  Speaker 4: elections Labor a bigger partner the elections twenty sixteen twenty nineteen,
• 2:01
  Speaker 4: Labour went to the election saying we're going to reform
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  Speaker 4: this area of tax and they got creamed.
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  Speaker 3: So, you know, very tentatively.
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  Speaker 4: Because we've got a housing crisis here, interest rates staying high,
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  Speaker 4: Labor has suggested, ever so slightly that maybe reform to
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  Speaker 4: negative gearing would be the way to go.
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  Speaker 3: Sentiments dramatically turned against.
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  Speaker 4: Old boomers like you know, like me, like other MPs
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  Speaker 4: in the country, many of whom I mean, Peter Dutton's
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  Speaker 4: got about six or seven investment properties. He's a multi multimillionaire,
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  Speaker 4: and young people are saying, listen to you, old fogies
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  Speaker 4: and suits, we want a chance to get into the
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  Speaker 4: housing market. So Albanze's running a million miles an hour
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  Speaker 4: away from this suggestion. He said, oh, look, I didn't
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  Speaker 4: I haven't asked for any of this work to be done.
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  Speaker 4: It's being done by Treasury, Okay. So he's trying to
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  Speaker 4: put distance out there. But at the same time he's
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  Speaker 4: trying to whistle to the young people who are trying
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  Speaker 4: to get in the housing market. We hear your complaints,
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  Speaker 4: and maybe you're going to see a policy that's going
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  Speaker 4: to allow those tax breaks. And they're worth hundreds and
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  Speaker 4: hundreds of millions of dollars every year, maybe one property,
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  Speaker 4: not ten or fifteen like some people own. So it's
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  Speaker 4: very difficult.
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  Speaker 2: You'll see how it goes down. Hey, you guys sending
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  Speaker 2: the r federal government sending any MPs over to Israel
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  Speaker 2: for the October seven Commitmenty.
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  Speaker 4: Yes, yes, the Attorney General is going, Mark Dreyfus, he
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  Speaker 4: is the most senior Jewish MP in the federal government,
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  Speaker 4: very yet bright fellow, and he's going to represent Australia
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  Speaker 4: in Israel or October seven, of course, one year since
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  Speaker 4: that dreadful, horrible Hamas attack on Israeli citizens. The visit
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  Speaker 4: conditional obviously hither and whether it's safe given the ongoing
• 3:42
  Speaker 4: Gaza conflict now attacks in Lebanon by Israel and Hezbolla
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  Speaker 4: also going with Mark Dravis.
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  Speaker 3: He was asked to go by Albanezi.
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  Speaker 4: The ex Prime Minister Scott Morrison is also going to
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  Speaker 4: be there, both he and Dravis, apparently giving speeches at
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  Speaker 4: Accounter Terrorism Summit. Here in Australia, the Jewish community has
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  Speaker 4: got major events planned for October seven, plus a candle
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  Speaker 4: that vigil across the country the night before. But the Zanga,
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  Speaker 4: because there's these morons anti Israel protesters over here, are
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  Speaker 4: also planning pro Palestinian rallies to mark the anniversary, which
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  Speaker 4: is obviously not not very well received over here.
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  Speaker 2: No, I can imagine, now, what do you make of
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  Speaker 2: this defacing of the Indian born woman, you know that
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  Speaker 2: placards and stuff in Melbourne.
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  Speaker 4: Yeah, here's a woman who came to Australia from India
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  Speaker 4: as a four year old. She's now nearly fifty. She's
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  Speaker 4: been here all of bloody life. I mean, hello, she's
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  Speaker 4: an Australian. New morons and people with IQs about their
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  Speaker 4: shoe size because she is standing for local government in
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  Speaker 4: an area called Casey in western Melbourne.
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  Speaker 3: Here's a fact.
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  Speaker 4: For the idiot who defaced the posters, go back home
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  Speaker 4: to where you came from Australia. For Australians, I mean,
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  Speaker 4: this is the sort of level of debate in Casey.
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  Speaker 4: Almost fifty percent of the people who live in Casey
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  Speaker 4: were born overseas.
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  Speaker 3: So this lovely.
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  Speaker 4: Young woman apparently you know, jamal Ahn Singh is her name,
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  Speaker 4: and very dignified, she says, listen, I don't know who
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  Speaker 4: did this.
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  Speaker 3: I don't get much care. But here's the thing more on.
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  Speaker 4: I am modern Australia, I am contemporary Australia. I was
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  Speaker 4: born overseas, but here I am making a contribution to
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  Speaker 4: my community, as are so many other assies and people
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  Speaker 4: like this, you know, defacing her electoral posters.
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  Speaker 3: Honest to god, I mean, what would you do with them?
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  Speaker 3: You just give them a belt and the bum. Wouldn't
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  Speaker 3: you just say? What morons would do that?
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  Speaker 4: Yeah?
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  Speaker 2: No, it's hard to explaining. It is racism judging by
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  Speaker 2: what's written on the billboards. Mus Listen, thank you, I
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  Speaker 2: always really appreciated. That's Murray Old's our Australia correspondents.
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