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I have a solution to deal with the short term letting market. Properties, whether houses or units, that are wholly let on the short term rental market should not be able to claim negative gearing.
This immediately will free up some properties and also assist deal with Labor’s previous plan of limiting negative hearing. Want to negatively gear, sure can! But only if you permanently rent your property.
The true sharing economy – people renting a room out in their home to make some money, or even home owners renting their own (non-negative geared, coz they live there) home out over holiday periods etc are not affected.
And it should be noted when we speak of the urgent need for full time rental accommodation that, whilst undoubtedly the worst to suffer are people who can’t get a permanent rent.
We’ve just been in Port Douglas where to what should be a national disgrace young overseas workers are renting a shared tent at the backpackers for $200 a week – people who live near full time air bnbs – whether units or houses, also suffer from a merry go round lottery of new short term neighbours.
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