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Recent rumours again suggest that the federal Treasury might be considering the removal of negative gearing on property or limiting it to new build housing only.
Experts appear divided as to the impact any change might have, with some believing rents would rise and others feeling house price affordability would worsen, presumabely with a resultant effect on values especially in the property segments affected.
I have always beleived an investment is something that pays you, not something that costs you money, year in year out, in the hope of eventual capital gain. The way Negative gearing is currently structured in Australia can indeed encourage the later investment behaviour.
The process of Investing in Property should be no different than investing in any other asset class. Understand what you want to achieve, consider the various options, identify and understand all of the risks involved and when happy, implement efficiently being mindful of the transaparent and not so transparent costs involved. Sounds simple but mistakes can be made when overestimating one's knowledge and experience in this respect.
If in doubt it's wise to take advice from a trusted adviser with a non conflicted fee structure. At Medical Financial Planning we help Doctors make good financial decisions leading to financial independence, whatever that means to you.
| Tags: News Tax |
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