Negative gearing arouses passions on both sides: about a third think people are making legitimate deductions, a third think it’s a rort, and a third don’t know. This blog explains how negative gearing works, to help resolve these issues. A more complete analysis of negative gearing can be found in a recent ACOSS report, “Fuel on the fire”.
In 2010, 2,548,000 people (14%) including 603,000 children (18%) lived below the poverty line in Australia. In that year the poverty line for a single adult was $400 per week.
The risk of poverty was much higher for people on unemployment (55%), sole parent (47%) or disability payments (48%). One third of people living in poverty were in a wage-earning household.
To find out who is living in poverty, see the ACOSS ‘Poverty in Australia‘ Report. .