Federal Budget on channel ABC on TV tonight at 7.30pm

For me, travel costs to attend Body Corporate meetings is a classic and real example.

 

You obviously don't come from the "country".

Who is noone?
If none drives on these roads then why are they there?

I'll give you 2 sec to think about it.
Is it dinner time yet???? (your 1st clue)

 

No telephone?

 

Yes, absolutely, but it does not work that well in the country.
get it?

 

Ever tried to chair a meeting like that over the phone?

 

Often. Easy.

 

Not too crash hot for property investors

The big 5 (CBA, WBA, NAB, ANZ and Mac Quarie) are being slugged with levy of over $6 billion over the next four years. Guess who will be wearing this?

What generally happens is they will pass it onto homeowners but beware investors will probably be wearing it in the main.

Expect interest rates to rise.....

 

Yeah mate.......

 

Do you still get the Cobb and Co to bored meetings?

 

@MTR
Probably see a spike in IPs switching over to PPOR to wash part of the targets painted on investor backs both legit and grey area-y.

Had a call with NAB and their IP->PPOR loan status switch seems relatively carefree. Show some owner occupier evidence and I'll be set.

 

You beat me to it.

 

God question. What if you are building a house that will be rented once complete? Could you claim travel costs to attend the final inspection / handover?

 

What a hero!

Please, tell us all some more about how great you are.

That's assuming you can manage to write more than 2 words in a post (shouldn't be a challenge for someone of your calibre, surely).

 

Projections are for 0.1% increase for owner occupiers and 0.25% for investors...

...so probably double that.

 

Interesting comment out of the budget in regards to property development and the payment of GST on the end sale price.

Previously this has been covered in the Developers next quarterly BAS and payable under the Margin Scheme.

Going forward I see the purchaser is responsible for retaining 1/11th of the purchase price and making payment directly to the ATO.

Certainly going to cause additional cash flow issues for Developers and place the emphasis on individual mum's and dads to become Tax collectors.

Think that one slipped thru in the mid of night.

 

Not really I prefer it this way else it end up in some dodgy developer's hand who gone bust and suck all the money dry and none of that supposes GST you paid goes to ATO, so you just hand him/her an extra 10% gift.

The only thing that annoyed me I have to pay PAYG on my shares return every quarterly .. used to be I do it at tax time, every 3 months got to hand them a few thousands bucks

 

What would you like to know? Would you like me to explain how a telephone works?

 

After reading the numerous comments in this thread I suggest everybody go back and read @datto 's #15 post, as it offers the best small business stimulus package, even though ScoMo didn't mention it in the budget.

And, for those who advocate the high speed inland rail, bring it on!

Let's face it, no-one wants their product to go off (except fireworks manufacturers...)

There are heaps of Centrelinks all over the country and there are some serious franchise opportunities for this outstanding idea.

As well as railway stations, investment opportunities would abound to buy units in large buildings clustered around Centrelink offices...

 

This.
Recent governments on both sides seem pretty happy to pile in on the mining industry (Lab) and now the big banks (Lib). Although not all saints at least both these industries do invest heavily in this country and employ heaps of Australians.
This new breed suck billions of cash out of the country, invest / employ bugger all and contribute three parts of nothing in terms of tax revenue for the country.
Both parties don't even seem to recognise this as being an issue let alone have any plans to redress the obvious imbalance.
Too hard basket ?

 

Because people rail is rarely profitable, and freight rail is not. Freight rail increases GDP, people rail does not.

haha. The answer is more what didn't they do. They got government underwriting to prevent them going bust, their executives are remunerated exceedingly generously despite overseeing on occasion borderline criminal activities... it's just time to pay the piper

Perfectly stated IMO

I would rather spend money making rail so efficient that we didn't have trucks smashing our road infrastructure, and where a government can build multi-use facilities or services to prevent waste they absolutely should

Another well considered post IMO

Worldwide issue, not just for Australia, and will take a consolidated approach. This profit-shifting shenanigan is pretty ordinary