Property chat election time!

Discussion in 'Politics' started by Noobieboy, 14th Apr, 2019.

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I’m mock voting for:

Poll closed 21st Apr, 2019.
  1. Liberal/National

    56 vote(s)
    61.5%
  2. Labor

    21 vote(s)
    23.1%
  3. Green

    6 vote(s)
    6.6%
  4. PHON

    3 vote(s)
    3.3%
  5. SFF

    2 vote(s)
    2.2%
  6. PUA

    3 vote(s)
    3.3%
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  1. MTR

    MTR Well-Known Member

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    Right
    Cant see the increase in rates coming anywhere close to my stamp duty costs over last 20 years
     
  2. LibGS

    LibGS Well-Known Member

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  3. EN710

    EN710 Well-Known Member

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    My family members are out of Indonesia around election time exactly because of the expected riot. As much as ridiculous things that sometimes happen here around politics, it's no where near to a riot.
     
  4. geoffw

    geoffw Moderator Staff Member

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    Really?

    I suspect that a government wouldn't replace an old tax with a new tax if they were likely to collect less revenue from it.

    A house may be kept between 10-15 years on average before it's sold, so rates would be likely to be in the order of 10% pa of the stamp duty (at a tough guess).

    At least you could claim them as a tax deduction when they are incurred, and not as a deduction from your CGT. As you're paying CGT on half of your CG, you will be ahead on income tax.
     
  5. MTR

    MTR Well-Known Member

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    Geoff how long is a piece of string?

    Its very much dependent on how much you buy and sell, structure etc
    I trade so I am always buying and selling. Stamp duty is a cost of doing business, and its huge

    One property alone I spent over $80k on stamp duty. I dont get 50% cgt exempt as I am a business/developer. I also pay GST

    I would prefer stamp duty gone
     
    Last edited: 23rd May, 2019
  6. kierank

    kierank Well-Known Member

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    I understand from Bowen, Albo, Wong, Tanya, Chambers, ... that the ALP policy sheet is now blank :D.
     
  7. LibGS

    LibGS Well-Known Member

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    I'm not sure what you mean. Can you please clarify.
     
  8. geoffw

    geoffw Moderator Staff Member

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    Ok, you would pay less with rates. You would be a very small minority though. Most people would pay more.
     
  9. MTR

    MTR Well-Known Member

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    Geoff huge assumption on a property forum


    Whats the median of Syd? Melb? I am sure many purchased more than 2, many investors buy and sell, it adds up at 5%???
     
    Last edited: 23rd May, 2019
  10. truong

    truong Well-Known Member

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    I broadly agree with the sentiment expressed in that article except for the correlation made about Trump and Brexit. Despite having voted for the Coalition this time and being very happy about the result, we would have never dreamt voting for Trump or Brexit.

    I think many people would have gladly voted for a more robust action on climate had Labor not unleashed its punitive tax package and class warfare.

    I can completely identify myself with the self-reliant, aspirational traits mentioned by several posters here, having risen from our working class condition through sheer hard work and sacrifices. These are the foundation of the Australian character, however I can’t help thinking that I too have changed a lot in social awareness on issues such as same sex marriage or the environment.

    I don’t think this is a victory of the Right, rather a defeat of the ideological Left. Those who think the rightist ideology has won could well be disappointed the next time around.

    The Australian people is generally a decent mob that likes to position itself at the centre, however this centre is slowly moving all the time. Politicians should never lose sight of this.
     
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  11. dabbler

    dabbler Well-Known Member

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    That is the way it should have been, but instead, exceptions, and more added exceptions due to social media etc.....
     
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  12. geoffw

    geoffw Moderator Staff Member

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    We're talking in context of an election. You wanted stamp duty eliminated - my point is that the money raised with stamp duty would have to be raised in other ways, and in the ACT, that was with increased rates. (The people who paid high stamp duty are also paying high rates). For many people, the stamp duty becomes a part of the loan, so they don't feel the pain as much, as it's less visible.

    So I don't know how a party would go to the election taking away one sort of tax and replacing it with another. Dividend imputation credit changes were only going to affect a minority, but it was very damaging to Labor.
     
  13. Marg4000

    Marg4000 Well-Known Member

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    But first they have to want to be “built up”. Many seem to be perfectly content to stay exactly where they are.

    I have a very good friend who came from a very deprived background, generational unemployment, social housing, living on benefits. She was extremely driven, wanted more from life, and realised education was her ticket out. Studied hard at the local high school in one of the lowest socio-economic suburbs of Brisbane at the time. Won a scholarship to university and became a teacher. Married and moved to a much more affluent suburb.

    But the emotional cost was and still is huge. She is seen by her family as some sort of a traitor by rejecting the lifestyle they all “enjoy”, living on benefits in social housing with no desire or intention to get a job or improve their situation in any way.

    Consequently her extended family want little to do with her, and she is excluded or shunned at family events.
    Marg
     
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  14. kierank

    kierank Well-Known Member

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    I assume you are kidding but just in case ...

    After the ALP’s re-sounding success last Saturday, they are all using words such as re-think, re-build, re-fresh, re-new, ...

    Sounds like they are going to start with a blank sheet to me.

    Anything else would be re-diculous, IMHO.

    Especially if they want to re-gain power!!!
     
    Last edited by a moderator: 23rd May, 2019
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  15. MTR

    MTR Well-Known Member

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    How about re-group, re-establish, re-view...… they just need re-sults
     
    Last edited by a moderator: 23rd May, 2019
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  16. kierank

    kierank Well-Known Member

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    Maybe, they should all do what Bill did and re-sign :D.
     
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  17. MTR

    MTR Well-Known Member

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    hehe
     
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  18. LibGS

    LibGS Well-Known Member

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    Still can't understand you. Are you ok?
     
    Last edited by a moderator: 23rd May, 2019
  19. TSK

    TSK Well-Known Member

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    Seems like a messed up family to me. Also anecdotal so a bit meh.
     
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  20. Simon Hampel

    Simon Hampel Founder Staff Member

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    Now we're almost a week past the election, I'm not sure there's much more value in this thread and we're just going to go further down ideological rabbit holes - so I'm closing it here.
     

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