Chris is a pretty switched on and likeable guy. His take is absolutely right, but I think you also have to tackle the people buying multiple properties as investments. Property just can’t be the safest and most profitable investment in Australia. Negative gearing has to go first, but I wouldn’t mind seeing further steps after that to incentivise the property moguls to sell up (or at least slow their buying).
The biggest problem is that politicians are not going to legislate against their own wealth. They’ll hide behind the public interest register. Dutton made his millions in property but only owned one property according to the register. Because he only had to declare he was a director of a private company and not how that company made money.
Chris is a pretty switched on and likeable guy. His take is absolutely right, but I think you also have to tackle the people buying multiple properties as investments. Property just can’t be the safest and most profitable investment in Australia. Negative gearing has to go first, but I wouldn’t mind seeing further steps after that to incentivise the property moguls to sell up (or at least slow their buying).
The biggest problem is that politicians are not going to legislate against their own wealth. They’ll hide behind the public interest register. Dutton made his millions in property but only owned one property according to the register. Because he only had to declare he was a director of a private company and not how that company made money.
💯