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Aussie tax rules egging property speculators on
People buy properties to rent out, even at a loss, but claim tax relief. Debt and prices rise
PRICES CREEPING UP: Apartment buildings in Wollstonecraft, a suburb in Sydney, where the median home price rose 14 per cent in September from a year earlier to A$655,000 (S$712,786).
PHOTO: BLOOMBERG
Sydney
AUSTRALIAN real estate investor Maureen Pound said losing money on three rental apartments she owns in Melbourne and Brisbane doesn't faze her. She's putting her faith in future profits from rising property values.
"I might lose A$30,000 ($24,285) on a property over 10 years...
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