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Albanese and Chalmers: negative gearing’s odd couple
The prime minister and the treasurer are chalk and cheese on negative gearing. Some of the differences are generational, some look more philosophical. But how will they play out as the election looms?
Prime Minister Anthony Albanese knows first-hand about negative gearing because he’s been a landlord in Sydney’s inner-west.
Many politicians, who earn relatively high salaries and pay large amounts of income tax, negatively gear investment properties. That means they can receive a tax refund when their rental income is less than the cost of managing the property.
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