This poster has obviously been working hard and paying their fair share in tax for years. Why shouldn't they also receive the same kind of assistance as those who are "hard done by"?
I am assuming that if he owns 500k in shares and so on, he already has a PPOR.
Note how he asks if he could transfer his savings into an investment property and negatively gear it. It is common knowledge that PPOR is not considered in the asset test by Centrelink.
A typical case of wanting to have your cake and eat it.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
It sounds like you're focused on getting the dole.
With 500k 'saved up', how about not planning on being a burden on the tax payer and live off your savings until you find another job?
There are many people with a whole lot less in disposable savings than you that genuinely deserve income support. It sounds like you don't need it if you're truly motivated to find employment in the short term.
Because it would be nice to be on the other end of the spoon for a while.. Not indefinitely, but for a while..
There's quite a limit on what ever investments you can have. Cash in the Bank has to be sub 5k. The exception is the ppor you own doesn't come into their eligibility equation. If you're happy to sit in a certain local then buying a house just ahead of time might be a good move. At the moment a health care card is tops for practically free dental treatment.
But in any case the dividend payment from your shares is going to be way more than the dole, as you stand you're not eligible. But when you move out of mining what makes you think you'll remain unemployed?
I guess the main question I am asking is: Does the governments favouritism towards property as an investment extend to applying for the dole? Ie. If you can claim a loss using negative gearing, does the investment still come under the same rules as any other investment when applying for the dole?
I don't think I will remain unemployed at all if I apply myself, tho I have come to the realisation that the system is in place to keep a wealth gap
This poster has obviously been working hard and paying their fair share in tax for years. Why shouldn't they also receive the same kind of assistance as those who are "hard done by"?
Thankyou.. Yes, 80kpa in tax is MORE than anyone's "fair share"
I am assuming that if he owns 500k in shares and so on, he already has a PPOR.
Note how he asks if he could transfer his savings into an investment property and negatively gear it. It is common knowledge that PPOR is not considered in the asset test by Centrelink.
A typical case of wanting to have your cake and eat it.
Wrong! I'm lucky enough to be born a gen y and miss out on the property boom. I've made a conscious decision not to follow the sheep and be a debt slave. I would love a house of my own close to my family and friends in sydney, but can't justify the expense. I, unlike the majority of Australians know and understand how much hard work and dedication is required to amas 500k in saving and I feel I would be throwing it into the hands of someone who hasn't earnt it if I bought a very average house in Sydney
Why would anyone ever buy a house if PPOR was considered as an investment asset for the purposes of the dole?
Come on, you can't be that dumb?
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
Use the 500k to buy a property and then just live off the dole, you be better off than most who have to use their dole to pay for rent and usually only enough to get shared accommodation to have around $70 a week spending money
I guess the main question I am asking is: Does the governments favouritism towards property as an investment extend to applying for the dole? Ie. If you can claim a loss using negative gearing, does the investment still come under the same rules as any other investment when applying for the dole?
I don't think I will remain unemployed at all if I apply myself, tho I have come to the realisation that the system is in place to keep a wealth gap
Only the ppor option is the one that can see one eligible for the dole.
However unless you're really interested in the dole as a career option I think you're wasting your time. The dole will only gain you 13k a year and you would have to engage in compromises that might cost you much more various ways. You're better off remaining on your own resources as things stand.
The next trick of our glorious banks will be to charge us a fee for using net bank!!! You are no longer customer, you are property!!!
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