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by zo1 929 days ago
That's not unusual at all, and calling it "negative gearing" is just a way to target it as if it's some evil concept.

Afaik, everywhere in the world taxes on businesses are applied to profits not revenue. Subtracting your loss is completely normal. It's personal taxes that applies to your salary aka revenue that is weird and modern day serfdom.
2 comments
siquick 929 days ago
> and calling it "negative gearing" is just a way to target it as if it's some evil concept.

That’s what the tax office call it.

https://www.ato.gov.au/individuals-and-families/investments-...

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ffgjgf1 929 days ago
> aka revenue that is weird and modern day serfdom.

Not really, though. Businesses have inherent incentives to minimize their costs. Individuals don’t, in fact it’s closer to being the opposite.

So the “revenue” tax approach is perfectly rational and reasonable (relatively to taxing personal “net income”)

> businesses are applied to profits not revenue

Yes, if your rental business was a separate entity it would make perfect sense. Subtracting your business costs from personal income isn’t quite that though

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