Comments by "" (@DanielSMatthews) on "'Mates rates': taxpayer subsidised half-price home loans from the RBA" video.

All bank staff get good deals on loans, I saw that myself many years ago. Interest only loans on investment properties etc. on a rising market, you then rent it out short term to get the negative gearing benefit and when it comes time to start paying the balance you just live in it a while and then sell it to collect the capital gain without the tax liability. There are literally tens of thousands of people who have do this over the last few decades and it is all 100% permitted. These attacks on Philip Lowe are just cynical drama farming on the part of News Corp.
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@oldbloke204 Depends on how you did it, short term or long term. Also if you allow a charity to run a fundraiser using it you have other tax options too, while still having a holiday house. I am not a financial advisor though and can't tell you what current laws are like, just what I know other people have in fact done in the past. The ATO is constantly changing the rules to fill holes discovered by creative accountants. 🙂
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@oldbloke204 Not a risk for me personally, and I do take note of the constant change in the rules. The original story is about what people were doing over 20 years ago.
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Correct, all bank staff get good deals on loans, I saw that myself many years ago. Interest only loans on investment properties etc. on a rising market, you then rent it out short term to get the negative gearing benefit and when it comes time to start paying the balance you just live in it a while and then sell it to collect the capital gain without the tax liability. There are literally tens of thousands of people who have do this over the last few decades and it is all 100% permitted. These attacks on Philip Lowe are just cynical drama farming on the part of News Corp.
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