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Land Tax on PPOR: Economic Regulation Authority Recommending Land Tax on Family Home
Topic Started: 13 Aug 2014, 02:50 PM (1,196 Views)
Blondie girl
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Hey people, what's your thoughts & feelings on this?

Many people, especially the retirees have seen their homes appreciate in value..butt....

You shouldn't assume that all who have a property with more than a median does not mean the owner has the means to pay more..

Although I'm debt free, it really gives me no joy to know that despite my properties are with more than what I originally pAid for them..it may force some people to move which can be distressing for some..
I'm talking those who have been in their homes like over 20 yrs...


Some of those oldies are asset rich & ca$h poor..

Don't we really get taxed enough?
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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Will
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Blondie girl
13 Aug 2014, 02:50 PM


Don't we really get taxed enough?
I definately think we get taxed plenty.

Now it doesn't really after how we get taxed. A land tax is fine as long as my income tax is reduced. I don't mind a carbon tax as long as other taxes are less.
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zaph
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Blondie girl
13 Aug 2014, 02:50 PM

Although I'm debt free, it really gives me no joy to know that despite my properties are with more than what I originally pAid for them..

Quote:
 
Hey people, what's your thoughts & feelings on this?


Need some more details Blondie? What's the deal? Is this some WA policy think tank's thing?

What's the proposal?

Quote:
 
Many people, especially the retirees have seen their homes appreciate in value..butt....

You shouldn't assume that all who have a property with more than a median does not mean the owner has the means to pay more..


Sometimes those who own above median housing only own it because it became trendy. It was a below median area and the yups moved in and drove up the price.

Quote:
 
it may force some people to move which can be distressing for some..
I'm talking those who have been in their homes like over 20 yrs...

Some of those oldies are asset rich & ca$h poor..


Granny should not be forced to move just to collect the pension. The moderately asset rich and income poor should still be granted a/the pension. The extremely asset rich and income poor should not - they can sell some assets.

Quote:
 
Don't we really get taxed enough?


Who's 'we'?

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herbie
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Issue No 1 - Socialist Democracies are bottomless pits that will always need ever more tax dollars to buy themselves votes.

Issue No 2 - 'We' (as in Aussies) don't seem very good at decentralising/building ourselves new cities maybe? (But aren't alone in that it would seem.) ... Not sure why? The argument re the efficiency/efficacy of big cities could be valid perhaps???

Those comments made, my primary concern would be that 'granny' gets forced to go and live somewhere that's rather distant from healthcare and other facilities/amenities - When it was 'granny's' taxes and presence that paid for/resulted in those healthcare and other facilities/amenities coming into existence where she lived anyway.
Edited by herbie, 13 Aug 2014, 04:19 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Blondie girl
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Will
13 Aug 2014, 03:13 PM
I definately think we get taxed plenty.

Now it doesn't really after how we get taxed. A land tax is fine as long as my income tax is reduced. I don't mind a carbon tax as long as other taxes are less.
Yeah the taxation system should be regarded by individuals as a give & take process..
But I'm referring about landtax on PPOR.

If one had lots of Ips it's really no skin off their nose if they're not a bank slave. But..if one has their PPOR as their castle no other investments it can be tough for them.
@ Zaph..

I don't think it's about WA, I would imagine when it's taxation stuff it would go national especially if it got the green light.. It's not just the oldies the Land tax intro on PPOP could stuff up young families making it more difficult to buy a home.


Hell, I'm getting sentimental. ...LMFO..


Perth is currently going through lot of local Council reform & there's some bigwig local councillors spitting chips at changes.
herbie
13 Aug 2014, 04:14 PM
Issue No 1 - Socialist Democracies are bottomless pits that will always need ever more tax dollars to buy themselves votes.

Issue No 2 - 'We' (as in Aussies) don't seem very good at decentralising/building ourselves new cities maybe? (But aren't alone in that it would seem.) ... Not sure why? The argument re the efficiency/efficacy of big cities could be valid perhaps???

Those comments made, my primary concern would be that 'granny' gets forced to go and live somewhere that's rather distant from healthcare and other facilities/amenities - When it was 'granny's' taxes and presence that paid for/resulted in those healthcare and other facilities/amenities coming into existence where she lived anyway.
Herbs

I'm facing a few dilemmas isorting out what's gonna work for my parents in terms of health care supports & housing, they have a two story set up in a posh suburb with space on a corner block to build another property...

But hey, it's been their home for any yrs but I've got Dad huffing & puffing the stairs with his cardiac issues & dementia. Have to brainstorm wth my Brothers what's best for tax purposes & my parents happiness.


Dad wants to die at home, so we all need to respect his wish.

Anyway it'll get sorted in its own time.


I'm back to bidding a few items elsewhere online .... doing about 9 proxy bids, (this is Xmas stuff )

Wish me luck...shopping..

Ta ta.
Edited by Blondie girl, 13 Aug 2014, 05:15 PM.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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peter fraser
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Blondie girl
13 Aug 2014, 04:54 PM
Yeah the taxation system should be regarded by individuals as a give & take process..
But I'm referring about landtax on PPOR.
What they call land tax in the USA is called council rates here. On top of that state governments also charge land tax on people who own quite a bit of property.

Some cities in the USA have much higher levels of land tax than us, and some have lower levels of land tax. Generally those with higher levels of land tax usually have a commensurate lower level of another tax.
Any expressed market opinion is my own and is not to be taken as financial advice
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zaph
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Blondie girl
13 Aug 2014, 04:54 PM
Perth is currently going through lot of local Council reform & there's some bigwig local councillors spitting chips at changes.

Herbs

I'm facing a few dilemmas isorting out what's gonna work for my parents in terms of health care supports & housing, they have a two story set up in a posh suburb with space on a corner block to build another property...

But hey, it's been their home for any yrs but I've got Dad huffing & puffing the stairs with his cardiac issues & dementia. Have to brainstorm wth my Brothers what's best for tax purposes & my parents happiness.



Quote:
 
@ Zaph..

I don't think it's about WA, I would imagine when it's taxation stuff it would go national especially if it got the green light.. It's not just the oldies the Land tax intro on PPOP could stuff up young families making it more difficult to buy a home.


The Economic Regulation Authority seems to be the water, power et al for WA (http://www.erawa.com.au/home). It appears to be a business dressed up as some sort of interest/lobby group??

Land tax is a state issue, although it could be handed over to the fed if all states agree. IMO stamp duty should be replaced with broad based land tax. That would require some cooperation between COAG to ensure low income/pensioners don't suffer.

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Quote:
 
Dad wants to die at home, so we all need to respect his wish.


Good luck with that. I've cared for two grand parents who had that wish, and both of them had to leave the home for the last couple of months.

These times can be really really tough.
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Blondie girl
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Thank you zaph.

I have the financial means to take care of my parents, I will do what's possible.

xox
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
Profile "REPLY WITH QUOTE" Go to top
 
Foxy
Member Avatar
Zero is coming...

Blondie girl
13 Aug 2014, 02:50 PM
Hey people, what's your thoughts & feelings on this?

Many people, especially the retirees have seen their homes appreciate in value..butt....

You shouldn't assume that all who have a property with more than a median does not mean the owner has the means to pay more..

Although I'm debt free, it really gives me no joy to know that despite my properties are with more than what I originally pAid for them..it may force some people to move which can be distressing for some..
I'm talking those who have been in their homes like over 20 yrs...


Some of those oldies are asset rich & ca$h poor..

Don't we really get taxed enough?
I think land tax on the family home is fair as long as the money is used on improving the area.
Not used by the politicians on fact finding missions to Thai hot tubs and saunas.
Peter
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Bardon
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For me any new tax should be avoided and exiting taxes particularly income tax should cease.
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