RBA top brass not property investors

At least the top two are not. Phil Lowe and Guy Debelle have declared their investment holdings after an FOI by The Australian:

  • Phil Lowe owns his home outright and has some managed funds.
  • Guy Debelle has no assets at all.

That does not speak for the past, or other staff, which have indicated in ATO releases a high propensity for property investment. Nor does it rule out exposure via partners or other close relationships.

But the top two appear to be property cleanskins.

David Llewellyn-Smith
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Comments

    • RatedAAAMEMBER

      Ignore, skipped over “Nor does it rule out exposure via partners or other close relationships”!

    • Niall de Santos

      Or trust, or property investment he owns.

      Why the f do we need a FOI to know what public servants own? It should be in a register.

  1. The Travelling Albatross

    Seems one of them struggling to save the deposit for a house, we need winners in that post ASAP!!!!

  2. DingwallMEMBER

    What a load of tripe. No assets at all lol.
    Their partners own it all and/or they have some vehicle ther lips are attached to but perhaps not their name.

  3. Know IdeaMEMBER

    In the social and professional circles I move in it is normal practice to hold little or no assets in one’s own name. That stated: those circles do not include the two gentlemen mentioned in the article.

    • JonathanMEMBER

      Exactly. Family Trust? Big4 partners are advised to move all assets out of their name immediately.

  4. Mike Herman TroutMEMBER

    We might have to pass the MB hat for poor old Guy RingdeBelle then….

  5. Of course they don’t own any assets. The first rule to big time investing is own nothing control everything. Their assets will be held in company trust structures, controlled by them. No doubt some of these structures are also overseas entities for obvious reasons. Only politicians are stupid enough to have it all in their names.

  6. It doesn’t matter whether they have direct skin in the game or not. Their livelihood and reputation depends on property.

  7. Phil and Guy’s wives would own all their IP’s for sure…. as the high-income earners, all their + geared properties will be in their wives’ names for tax minimisation reasons

  8. How does Guy have no assets?

    With incomes like theirs, if they hardly have any assets, then their relos assets are probably theirs by proxy, effectively, and should be captured by the FOI request.

  9. GingerMEMBER

    Really need to look at the wording of the FOI request. Otherwise it’s FFI
    (from)

    • kiwikarynMEMBER

      Its all in the wording. David Seymour got caught by this recently when he declared he did not own any property. However, the NZ financial interests register includes any “interest in property” and the definition of that included being a beneficiary of a trust (your own or another family member’s).

  10. Thanks for chasing this up. Why buy an investment property when you can pump the value of your PPOR by keeping rates low and earn more imagine than you can spend before retirement?

  11. I find it highly suspicious every second comment if m on the Australian article is asking what the point of the article. Far too many than is usual for any article.

  12. As already shown on MB, the real issue is how many politicians with (more than one) IPs vote on issues driving home prices up. Surely declaring interests and abstaining is the appropriate parliamentary behaviour.

    Sorry, I forgot that the LNP cannot spell appropriate behaviour 🙁