James Kirby

If they didn't have that structure.

Correct.

I imagine that's the issue.

Yeah.

All right.

We'll be back in a moment, folks.

I want to bring up a couple of, let's say, random notes that you really should be aware of in relation to the budget from what we know so far.

Talk to you soon.

Hello, welcome back to the Australian's Money Puzzle podcast, special budget episode with myself, James Kirby and Will Hamilton.

OK, now, folks, we've given you a whistle stop tour so far of what we see as the main items emerging from this year's budget, dramatic budget.

We've talked about CGT and the change there.

We've talked about negative gearing.

And in case we didn't completely spell it out, existing properties basically will no longer be allowed to be negatively geared.

Only new properties will.

And the reality is that 80% by the government's own admission folks in the budget papers, 80% of properties that are negatively geared.

are not new properties.

They're existing properties.

And there's probably a very good reason for that in that they are not as reliable price-wise.

Have we any evidence on that, Will?

I mean, if I came in to you as an advisor and I said to you, I want to buy five new houses and gear them rather than five existing houses, is there some sort of innate superior asset quality to the existing houses?