In Australia, negative gearing often refers to borrowing to purchase a residential property investment (e.g. a house or unit), which is made available for rent. In some cases the rent received is less than the costs incurred by the landlord (mortgage interest, depreciation and other expenses), resulting in negative gearing.
Borrowing to purchase shares whose dividends fall short of interest costs is another example of a negatively-geared investment.
仍以上述物业为例,投资者花$600,000买下(自付首期$100,000,借贷$500,000),如果按照这两年的增长值,每年10%计,该物业一年的增值就高达$60,000,远超过当年的亏损额$23,000。不过,这里又牵扯到另外一个问题,即:资本增值税(Capital Gain Tax),后文再谈。