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Good News: Treasury pushing remodel of Negative Gearing for only new homes!; Corrupt and vested real estate interest run for cover!
Topic Started: 14 Aug 2014, 09:26 PM (33,901 Views)
Elastic
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I don't think it's necessarily a taxation issue. To be honest the government would probably benefit if 50% of homes were rented out and positively geared. It's an additional revenue stream that they don't get from OOs. They tax the income of renters and then they effectively tax the rent they pay.

I'm looking at it more from a general perspective of what's reasonable and fair. It's just bad policy.
You can argue that it applies to all asset classes but so what. If it doesn't work to achieve anything positive for society then get rid of it.
Only a rat can win a rat race.

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herbie
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Elastic
16 Aug 2014, 08:44 PM
... I'm looking at it more from a general perspective of what's reasonable and fair. It's just bad policy.
You can argue that it applies to all asset classes but so what. If it doesn't work to achieve anything positive for society then get rid of it.

To me it goes WAY deeper than that Elastic.
As in given that neg gearing IS something that is reasonable and 'fair' (fuck I DESPISE THAT word), the question I ask myself is How come it isn't working to achieve anything positive for society? (Assuming it isn't.) As in, just what have we REALLY fucked up?
Edited by herbie, 16 Aug 2014, 09:02 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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peter fraser
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Elastic
16 Aug 2014, 08:44 PM
I don't think it's necessarily a taxation issue. To be honest the government would probably benefit if 50% of homes were rented out and positively geared. It's an additional revenue stream that they don't get from OOs. They tax the income of renters and then they effectively tax the rent they pay.

I'm looking at it more from a general perspective of what's reasonable and fair. It's just bad policy.
You can argue that it applies to all asset classes but so what. If it doesn't work to achieve anything positive for society then get rid of it.
It's often presented as a taxation issue and strong mention is always made over at MB re the tax deductions exceeding income, what will they do if that reverses?

I'm not sure that it's the moral issue that you make it out to be. It seems to me that those who see it as a moral issue are always those who don't benefit from NG, whilst those who think it's wonderful are those who benefit - seriously that's hardly surprising is it.

If a government structures their taxation to encourage a certain behaviour, then we can assume that is what they want people to do because they see it as being in the communities interest, so how is that immoral?

Why do you think it's bad policy. Governments don't want to deal with the public housing issue so they have privatised it. This is the normal outcome of privatisation.

Edited by peter fraser, 16 Aug 2014, 08:59 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
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Poontang
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peter fraser
16 Aug 2014, 08:56 PM


Why do you think it's bad policy. Governments don't want to deal with the public housing issue so they have privatised it. This is the normal outcome of privatisation.
:huh:
There are some people who seem angry and continuously look for conflict.
Walk away, the battle they are fighting isn't with you, it's with themselves.

The first lesson of economics is scarcity: There is not enough of anything to satisfy all who want it.
The first lesson of politics is to disregard the first lesson of economics. ~ Thomas Sowell.

Who was the fool, who the wise man, who the beggar or the Emperor? Whether rich or poor, all are equal in death.
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stinkbug
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Timo
16 Aug 2014, 08:13 PM
You should rent out the huge vacant space in your head to make it
:lol :lol :lol
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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super guest
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peter fraser
16 Aug 2014, 08:38 PM
Sydney believe it or not is not the world.

No, but it is an investor driven market that has been blown up to benefit the minority who own more than one property by policies designed to create a wealth gap such as ng..

If you say it makes no difference to brissy good for you, but does and has had a huge effect in Sydney and needs to go
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Elastic
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peter fraser
16 Aug 2014, 08:56 PM
It's often presented as a taxation issue and strong mention is always made over at MB re the tax deductions exceeding income, what will they do if that reverses?

I'm not sure that it's the moral issue that you make it out to be. It seems to me that those who see it as a moral issue are always those who don't benefit from NG, whilst those who think it's wonderful are those who benefit - seriously that's hardly surprising is it.

If a government structures their taxation to encourage a certain behaviour, then we can assume that is what they want people to do because they see it as being in the communities interest, so how is that immoral?

Why do you think it's bad policy. Governments don't want to deal with the public housing issue so they have privatised it. This is the normal outcome of privatisation.
It's not a moral issue.
If the intention was to replace public housing then don't you think they've overachieved their aims?
If you go to an auction and an investor outbids a FHB then that is not a good result as far as I'm concerned.
You could ask the same thing about family trusts.
Why allow it?
You could say that people who use family trusts think they are wonderful but so what?
Why allow tax loopholes?
The reason these policies still exist has nothing to do with common sense, it's because those in power don't have the balls or the inclination to do anything about it. Plus they all benefit from it.

Only a rat can win a rat race.

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herbie
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Elastic
16 Aug 2014, 11:01 PM
It's not a moral issue.
...
Why allow tax loopholes?
...
Tax loopholes are entrenched in the system at its most fundamental level.
Eg: The dude who earns $18,200 pa pays NO tax on his income - That's a very, very major loophole in itself No?
And so on through the tax brackets.
But not one I'm personally bitching about too much now as a dude who's going into retirement - Just more one (of many) that I'm looking to arrange my financés to take advantage of ...

PS: I've been looking at this shit and reckon earning over $70K pa is BAD. ('N was chatting to me ma this arvo - Who's a bit out of date maybe given she retired yonks ago; But either which way, she reckoned earning over $80K pa is definitely REALLY BAD! ... :) )

PPS: Tax is a funny one - The more I think about it/look at it, the more I start to suspect that Socialists just don't have any understanding of how human's (or alien's in my case - LOL!) brains work re same as opposed to how they'd like to think they should work maybe?
Edited by herbie, 16 Aug 2014, 11:55 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Elastic
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I understand what you are saying Herb but why do we have a progressive tax system to start with?
Why do we have public healthcare and education?
It's pretty obvious that most people want what's best for themselves but fortunately there are people smart enough to realise that "every man for himself" doesn't work that well and neither does pure socialism.
So I think it's necessary to actually step back sometimes from the "winners v losers" debate or any ideology and determine where exactly you are heading.
What kind of society do you want to live in?
Only a rat can win a rat race.

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peter fraser
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super guest
16 Aug 2014, 09:47 PM
No, but it is an investor driven market that has been blown up to benefit the minority who own more than one property by policies designed to create a wealth gap such as ng..

If you say it makes no difference to brissy good for you, but does and has had a huge effect in Sydney and needs to go
If NG is the sole driver of prices why aren't Thargomindah and Cunnamulla booming?
There aren't many houses for sale there
http://www.realestate.com.au/buy/property-house-in-thargomindah%2c+qld+4492/list-1?source=refinements

Any expressed market opinion is my own and is not to be taken as financial advice
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