ATO: Negative gearing losses fall in 2012/13 (but not for long)
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According to a new story at Fairfax, the total values of negative gearing losses claimed in 2012-13 fell some 31% from the previous financial year, courtesy of a sharp decline in mortgage rates from 6.15% to 5.35% over that period.
The ATO has obviously provided Fairfax with early access to its Tax Statistics for 2012-13, since they are not yet available on its website.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.