No one likes paying more tax.
With the odds shortening for a Shorten government it's important for real estate investors to understand how a Labor win could affect their property investments.
Did you know you’ll have to pay up to 6 extra taxes if Labor comes to power?
Now I recognise that I have to pay my fair share of tax, and in fact I do, but I recently realised that if Bill Shorten becomes our next Prime Minister millions of Australians will have to pay higher taxes.
And he’s not just after “greedy property investors.”
- Also read:Here’s how to avoid these 12 common reasons property investors fail to build a Multi Million Dollar Property Portfolio
- Also read:Latest property price forecasts for 2024 revealed. What’s ahead in our housing markets in the next year or two?
- Also read:Sydney property market forecast for 2024
- Also read:Boom to bust: What makes property prices rise and fall
- Also read:This week’s Australian Property Market Update – Latest Data, State by State November 28th, 2023
If Labor has its way Australians will be amongst the highest taxed people in the world.
Watch this 20 minute Think Tank as Ken Raiss and I discuss some of the tax hikes the Labor Party is proposing
- The top tax rate would rise to 49%
- A higher tax on capital gains
- Limiting Negative Gearing
- Retiree tax
- Taxing distributions from discretionary trusts
- Superannuation changes