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Member
Has anyone looked into this … or a local equivalent? I heard Bill Gates is buying up farms in the US …. This May be safety in the event of more Chinese property company collapses ….
https://moneywise.com/investing/real...+U.S.+farmland
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Originally Posted by STr
When Billionaire's buy farm land it is used for receiving legal tax credits and tax avoidance on there wealth while the land is appreciating in value
The more you buy the more tax credits you receive (tax avoidance)
Similarly to me being able to claim losses like rates, repairs, interest etc on my real estate.
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Originally Posted by STr
When Billionaire's buy farm land it is used for receiving agriculture tax credits and tax avoidance on there wealth while the land is appreciating in value
The more you buy the more tax credits you receive (tax avoidance)
Similarly to me being able to claim losses like rates, repairs, interest etc on my real estate.
Hope this helps.. cheers.
Last edited by TeslaGod; 05-10-2021 at 07:46 PM.
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Originally Posted by TeslaGod
When Billionaire's buy farm land it is used for receiving agriculture tax credits and tax avoidance on there wealth while the land is appreciating in value
The more you buy the more tax credits you receive (tax avoidance)
Similarly to me being able to claim losses like rates, repairs, interest etc on my real estate.
Hope this helps.. cheers.
Rates, repairs and mortgage interest are not losses. They are expenses. Rates and repairs can be deducted from the income and tax is payable on the balance (profit). Mortgage interest is no longer deductable other than the first twenty years life of a new building. There should be spelt their. Billionaires should not have an apostrophe.
Last edited by fungus pudding; 05-10-2021 at 08:36 PM.
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Originally Posted by fungus pudding
Rates, repairs and mortgage interest are not losses. They are expenses. Rates and repairs can be deducted from the income and tax is payable on the balance (profit). Mortgage interest is no longer deductable other than the first twenty years life of a new building. There should be spelt their. Billionaires should not have an apostrophe.
Everyone has a different situation, you don't know what types of real estate I invest in so don't pretend you do.
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Originally Posted by TeslaGod
Everyone has a different situation, you don't know what types of real estate I invest in so don't pretend you do.
I really wish members on this forum would stop commenting on topics they don't know, are not invested in and don't understand .
Googling something doesn't make you an expert on all matters,
You are all embarrassing yourself and making me cringe .
Last edited by TeslaGod; 05-10-2021 at 09:50 PM.
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Originally Posted by TeslaGod
Everyone has a different situation, you don't know what types of real estate I invest in so don't pretend you do.
I do not need to know what you invest in. But regardless of what it is, outgoings in any commercial activity are not losses.
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