this post was submitted on 16 Oct 2024
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New data reveals thousands of Australians who own 10 rentals or more (www.abc.net.au)
submitted 5 days ago by Nath@aussie.zone to c/australia@aussie.zone
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And as the article says - this data is only from individual tax returns. It doesn't cover companies.

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[–] nonentity@sh.itjust.works 4 points 4 days ago (1 children)

This is a nation of convicts who aspires to become wardens.

I don’t have an issue with people owning multiple properties, but doing so should be subservient to the provision of a core component of subsistence.

A broad proposal I’ve been mulling is the realisation of profit anywhere in the real estate industry (construction, (re)development, ownership, management, etc.) should only be tolerated contingent to the size of the social housing wait list.

As a broad example, if the wait list is over a year, tax any profit above 5% at 50%. The figures are arbitrary, the point is to make it the responsibility of the group to fix the problem they’ve caused.

[–] Taleya@aussie.zone 2 points 4 days ago

tbh landlords occupy a special place that was carved out of necessity nearly a century ago that no longer applies.

We need to revise the laws and start treating rental properties as the business they are.