Property Ownership in Parliament 2015

Australia’s MPs currently used more properties for investment or commercial purposes (291 properties) than for residential or recreational purposes (250 properties).

But of the 226 members of Parliament, 84 of them hold at least one investment property and at least one mortgage or investment loan, meaning they are possibly negative gearing.

Parliament’s register of members’ interest does not disclose if its members who hold a loan against their investment properties are negatively geared.

But as one federal politician told Fairfax Media, after admitting he negatively geared a second property: “If someone has more than one mortgage of course they’re negatively gearing. You’d be an idiot not to.”

source: http://www.smh.com.au/

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