Australia lacks entrepreneurs because there's less risk in property than any other business venture. You can throw your time and money into the property market

Australia lacks entrepreneurs because there's less risk in property than any other business venture. You can throw your time and money into the property market which is guaranteed to be successful because of things like negative gearing and capital gains tax benefits. Negative gearing allows you to use expenses from owning property as a land lord against your own income to reduce your taxable income. while the asset (property, land) balloon in value. [0] Eventually you can sell the property and land for huge profits while using it as a tax avoidance strategy while the asset grows in value and even then at sale, you get massive Capital Gains Tax discounts.[1] There's so many incredible benefits to being a land lord in Australia which is helping fuel the ballooning property market, which is why this is typically the first investment priority for most people here. [0] https://rentbetter.com.au/view/tax-benefits-for-landlords/ https://rentbetter.com.au/view/tax-benefits-for-landlords/ [1] https://www.realestate.com.au/advice/how-to-avoid-capital-gains-tax-when-selling-property/ https://www.realestate.com.au/advice/how-to-avoid-capital-ga...