Australian Federal Politicians Should Disclose if they hold Negatively Geared Assets in their Members interest Statements
This is a petition requesting on behalf of the Australian citizens and residents who are seeking action whereby all Australian Federal Politicians disclose in their annual 'Members Interest Statements' if they (or their spouse) as individuals (or under a trust, corporation or joint venture) hold an asset which is negatively geared. And there must be full disclosure of the particular asset negatively geared.
The signees of this petition seek action due to the fact that politicians and political rivals will not debate among themselves whether negative gearing is good or bad for the Australian economy. Yet the Australian public is deeply concerned as to why negative gearing is one of the few issues that politicians avoid discussing or debating.
We look forward to the Senate's response to this petition.
Updates
February 11, 2015
We hit 250 signatures today. It is exhausting to keep pushing for basic transparency against this silence but seeing your names pile up gives me enough fuel to keep going.
Reached 250 supporters
February 9, 2015
Reached 100 supporters
February 9, 2015
169 Comments
Taxes should not be spent to help people buy negatively geard property, while first home buyers and young families can't afford one house for shelter. Is this what right for the people of Australia as a whole?
This is a pressing issue for the commonwealth. If that name for our nation is to mean anything , then this largest instance of intergenerational theft must be discussed.
It is a continuing disappointment that none of the political parties is interested in tackling negative gearin.It is now vital that we find out if the reason for this is that the politicians themselves are too heavily involved in this tax deduction.
It is bad economic policy encourage people to hold a toxic investment in the hopes that theoretical capital gains will offset the real losses that both the government and the individual pay for
My feeling is that politicians may well be compromised by self interested in the area of negative gearing. Disclosure of negatively geared interest would help to prove or disprove a politicians self interest in the issues.
I strongly believe that negative gearing is one of the main reason many people cannot affort to buy a property and are forced to rent. It pushes the property prices high out of reach of ordinary people. It is contributing to the property bubble (no value is created when property prices grow), and has wave impact on other costs. It supports an investment which does not produce any value and in the long run does not make any sense for Australia as a whole.
There are a number of very valid arguments, included substantial tax revenue if negative gearing was abolished. The argument that this would cause Tenants to be evicted from property has been statistically proven to be invalid except for a number of isolated cases in Sydney. It is not reasonable to expect the normal PAYE tax payer to pay the brunt of tax revenue whilst these wealthy property speculators avoid paying tax.
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Australian Federal Politicians Should Disclose if they hold Negatively Geared Assets in their Members interest Statements
This is a petition requesting on behalf of the Australian citizens and residents who are seeking action whereby all Australian Federal Politicians disclose in their annual 'Members Interest Statements' if they (or their spouse) as individuals (or under a trust, corporation or joint venture) hold an asset which is negatively geared. And there must be full disclosure of the particular asset negatively geared.
The signees of this petition seek action due to the fact that politicians and political rivals will not debate among themselves whether negative gearing is good or bad for the Australian economy. Yet the Australian public is deeply concerned as to why negative gearing is one of the few issues that politicians avoid discussing or debating.
We look forward to the Senate's response to this petition.
Updates
February 11, 2015
We hit 250 signatures today. It is exhausting to keep pushing for basic transparency against this silence but seeing your names pile up gives me enough fuel to keep going.
Reached 250 supporters
February 9, 2015
Reached 100 supporters
February 9, 2015
169 Comments
In a time when negative gearing has made home ownership impossible for many young people, and politicians, collectively, are known to have a great deal of money tied up in real estate investment, the deathly silence in the parliament on the topic of negative gearing is undermining Australian's faith in democracy.
Taxes should not be spent to help people buy negatively geard property, while first home buyers and young families can't afford one house for shelter. Is this what right for the people of Australia as a whole?
This is a pressing issue for the commonwealth. If that name for our nation is to mean anything , then this largest instance of intergenerational theft must be discussed.
It is a continuing disappointment that none of the political parties is interested in tackling negative gearin.It is now vital that we find out if the reason for this is that the politicians themselves are too heavily involved in this tax deduction.
It is bad economic policy encourage people to hold a toxic investment in the hopes that theoretical capital gains will offset the real losses that both the government and the individual pay for
My feeling is that politicians may well be compromised by self interested in the area of negative gearing. Disclosure of negatively geared interest would help to prove or disprove a politicians self interest in the issues.
I strongly believe that negative gearing is one of the main reason many people cannot affort to buy a property and are forced to rent. It pushes the property prices high out of reach of ordinary people. It is contributing to the property bubble (no value is created when property prices grow), and has wave impact on other costs. It supports an investment which does not produce any value and in the long run does not make any sense for Australia as a whole.
There are a number of very valid arguments, included substantial tax revenue if negative gearing was abolished. The argument that this would cause Tenants to be evicted from property has been statistically proven to be invalid except for a number of isolated cases in Sydney. It is not reasonable to expect the normal PAYE tax payer to pay the brunt of tax revenue whilst these wealthy property speculators avoid paying tax.
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In a time when negative gearing has made home ownership impossible for many young people, and politicians, collectively, are known to have a great deal of money tied up in real estate investment, the deathly silence in the parliament on the topic of negative gearing is undermining Australian's faith in democracy.