Mat Steinwede - Chasing Optimum
Jul 7, 2026 · 1 hr 25 min · 12 segments
On this episode of Chasing Optimum Mat catches up with Steve Boulden the money man to get his views on how to navigate the current position in Australia to one day build wealth and create a level of…
Steve BouldenGuestMat SteinwedeHost
really want to um what's your view on this budget um okay so my view on the budget that's a very broad question my view on the budget is there uh it's got a lot of holes in it it's been ill thought out um the people that they want to help are the ones that they're going to hurt the most Does the economy need a handbrake? Probably not at the moment.
Like they haven't done a good job at the way they've done it, but their intent is good, if you like.
If we start with, say, negative gearing is probably the easiest one to look at.
So the issue with negative gearing is, For the most part, so you and I, we really don't need negative gearing.
But in the scheme of things, like if I look at the properties I bought off you and then the indebtedness of those and the rental income, well, they're not negatively geared.
not really i mean you try and minimize your tax to the best capacity you can but it's not going to change your world it's not going to stop you however the person who's struggling to buy something you know in the in the early days of their first purchase the negative gearing aspect because the the 30 if you're in the 30 tax bracket comes back to you right from negatively gearing so you now have that as a benefit in your tax okay the the lender will add that back and say well that's more income for you so now you can borrow a little bit more so what it's really helping is the person who's stretched Now, you and I, if we want to go and buy something, we sort of buy it and then tell the bank later.
And then, like, I bought something off you on the freeway, haven't I? You have.
really want to um what's your view on this budget um okay so my view on the budget that's a very broad question my view on the budget is there uh it's got a lot of holes in it it's been ill thought out um the people that they want to help are the ones that they're going to hurt the most Does the economy need a handbrake? Probably not at the moment.
Like they haven't done a good job at the way they've done it, but their intent is good, if you like.
If we start with, say, negative gearing is probably the easiest one to look at.
So the issue with negative gearing is, For the most part, so you and I, we really don't need negative gearing.
But in the scheme of things, like if I look at the properties I bought off you and then the indebtedness of those and the rental income, well, they're not negatively geared.
not really i mean you try and minimize your tax to the best capacity you can but it's not going to change your world it's not going to stop you however the person who's struggling to buy something you know in the in the early days of their first purchase the negative gearing aspect because the the 30 if you're in the 30 tax bracket comes back to you right from negatively gearing so you now have that as a benefit in your tax okay the the lender will add that back and say well that's more income for you so now you can borrow a little bit more so what it's really helping is the person who's stretched Now, you and I, if we want to go and buy something, we sort of buy it and then tell the bank later.
And then, like, I bought something off you on the freeway, haven't I? You have.
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