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Turnbull government considers making PPOR mortgages tax deductible like the USA; Another nice boost for Australian house prices
Topic Started: 20 Jan 2017, 01:24 PM (1,299 Views)
popey
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Mallard
20 Jan 2017, 05:00 PM
Why do you write pple instead of people?
lazy or to save 0.05 seconds...
juz like how pple write w8 instead of wait, gr8 instead of great, u instead of you
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Chris
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skamy
20 Jan 2017, 02:28 PM
Abolishing NG only affects lower income people who will be forced to wait longer for their tax return. Rich people will always find some other investment income to offset losses against if they are not allowed to use income tax.

You believe such a lot of nonsense Chris, if you spend 5 mins researching the tax laws involved you will see the truth.
Name me one other tax mechanism that allows an individual to reduce their taxable income to invest in property as much as NG does. Rich can get rich, if they are so lucky as to be in a position to become independently wealthy they deserve it. What they don't deserve is to become wealthy whilst penalising the majority through speculation on a basic human right.

I think it is a great move if it replaces NG, get people paying down their PPOR and then buying IP when they can comfortably make them a PG proposition from the start.

No more speculation.
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Rastus2
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Bardon
20 Jan 2017, 05:14 PM
Less tax always gets my vote.

I wonder if it will dovetail with taxarion of PPOR capital gains... hmm

Still, lets see if it grows legs before getting excited.
Shadow - Defrauded his Bank ? 2015 I have 9 different loans and my bank had no idea which ones were personal and which were investment. They had half of them classed incorrectly. When this change came in they asked me to tell them if any personal loans were incorrectly classed as investment, which I did, and they switched them to personal for the lower rate. They also had a couple of investment loans incorrectly classed as personal. They didn't ask me about those. So they stay on the lower rate too. Worked out pretty well. :)
Shadow - 2008 Sydney Median House Price 1.25M by 2014-2015

Shadow : I think this boom has already begun in several cities. My prediction :
Peak of boom: 2014-2015. Sydney Median Price: $1,250,000 Bottom of bust: 2017-2018. Sydney Median Price: $1,100,000

Shadow's Original 2010 House Boom and Crash prediction http://s836.photobucket.com/user/rastus22/media/shady-orig-2010-chart.png.html?sort=3&o=0

Shadow's attempt to edit his 2010 chart in 2015 and replace it with one that does not show a crash in 2013 http://s836.photobucket.com/user/rastus22/media/Screen%20Shot%202015-06-06%20at%207.12.52%20pm_1.png.html
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