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1.93's A$ to the Pound!!!

1.93's A$ to the Pound!!!

Old Nov 12th 2009, 7:19 am
  #901  
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by swigski
He obviously had the money to buy 4 properties which is the point I disagree with. Negative gearing favors the already wealthy when the low income earners struggle to even get on the property ladder. The rich get richer and the poorer get poorer paying inflated rental prices due to the supply problem!

Why don't the Government spend the $5.4 billion a year they give out as tax payments to investors on building houses on a lease to purchase scheme or a 50/50 rent/mortgage scheme. It would certainly be money better spent, allow thousands of low income earners a foot on the housing ladder and provide jobs to builders nationwide.

But, is this in the best interests of the Government?
i think the divide is going to continue between rich and poor ,it wont be resolved untill there is armed revolution .
The system that is in place is collapsing , the cellar dwellers are holding up the rest and are expected to work longer for less and be greatful . Good knows what all these pen pushing waste of times are going to do when the pooh really hits the fan when ever that will be .
The whole system is corrupt , banks , building societies , governments , state governments , its nothing but another serf /master situation .
viva the revolution .
Thats the best i can come up with for the answer to all the greed going on around the western world these days .
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Old Nov 12th 2009, 7:32 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by king kong
i think the divide is going to continue between rich and poor ,it wont be resolved untill there is armed revolution .
The system that is in place is collapsing , the cellar dwellers are holding up the rest and are expected to work longer for less and be greatful . Good knows what all these pen pushing waste of times are going to do when the pooh really hits the fan when ever that will be .
The whole system is corrupt , banks , building societies , governments , state governments , its nothing but another serf /master situation .
viva the revolution .
Thats the best i can come up with for the answer to all the greed going on around the western world these days .
God damit King Kong you "float ma boat"
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Old Nov 12th 2009, 7:35 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by swigski
He obviously had the money to buy 4 properties which is the point I disagree with. Negative gearing favors the already wealthy when the low income earners struggle to even get on the property ladder. The rich get richer and the poorer get poorer paying inflated rental prices due to the supply problem!

Why don't the Government spend the $5.4 billion a year they give out as tax payments to investors on building houses on a lease to purchase scheme or a 50/50 rent/mortgage scheme. It would certainly be money better spent, allow thousands of low income earners a foot on the housing ladder and provide jobs to builders nationwide.

But, is this in the best interests of the Government?
But negative gearing actually suppresses rental prices. The expected return on a rental in Aus is a lot lower than in the UK. This is a result of negative gearing in Aus and neutral gearing in the UK.

The main reason is that the government would have to step in and provide more social housing. This is not in the best interests of the tax payer (the people who fund the government - at least in Aus).
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Old Nov 12th 2009, 7:39 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by MartinLuther
But negative gearing actually suppresses rental prices. The expected return on a rental in Aus is a lot lower than in the UK. This is a result of negative gearing in Aus and neutral gearing in the UK.

The main reason is that the government would have to step in and provide more social housing. This is not in the best interests of the tax payer (the people who fund the government - at least in Aus).
I would query whether it suppresses prices. The returns are a lot lower due to the higher prices paid for the property initially I would suspect (unless in good London suburb).

The Govt pay out $5.5 billion in taxes to investors every year. Couldn't this be used to provide housing??
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Old Nov 12th 2009, 7:42 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by king kong
i think the divide is going to continue between rich and poor ,it wont be resolved untill there is armed revolution .
The system that is in place is collapsing , the cellar dwellers are holding up the rest and are expected to work longer for less and be greatful . Good knows what all these pen pushing waste of times are going to do when the pooh really hits the fan when ever that will be .
The whole system is corrupt , banks , building societies , governments , state governments , its nothing but another serf /master situation .
viva the revolution .
Thats the best i can come up with for the answer to all the greed going on around the western world these days .
So once the revolution is complete we'll have a serf/master situation based on nepotism and ideological corruption. So the corrupt banks and governments will be replaced by more corrupt banks and governments where those with their snouts in the trough will be chosen because they're best mates with the party leader or because they sold their soul to the party.

Doesn't sound so good.
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Old Nov 12th 2009, 7:45 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by swigski
I would query whether it suppresses prices. The returns are a lot lower due to the higher prices paid for the property initially I would suspect (unless in good London suburb).

The Govt pay out $5.5 billion in taxes to investors every year. Couldn't this be used to provide housing??
Well that's one way of looking at it but if you had money would you fork out for a property with a crap return or would you invest it in something else with a better return. No. I wouldn't. The crap returns on investment properties are offset by negative gearing which fills the gap in the return now (by handing tax money back) with the opportunity of making up at a later date with a lower tax take.

I guess they could use some of the money to hand out housing on a silver platter. I've seen social housing projects. They don't work.

Last edited by MartinLuther; Nov 12th 2009 at 7:47 am.
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Old Nov 12th 2009, 9:17 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by MartinLuther
So once the revolution is complete we'll have a serf/master situation based on nepotism and ideological corruption. So the corrupt banks and governments will be replaced by more corrupt banks and governments where those with their snouts in the trough will be chosen because they're best mates with the party leader or because they sold their soul to the party.

Doesn't sound so good.
no ,not at all . I was thinking i will put me in charge and be real nice to everyone , take away land ownership totally .We can all live in a state of utopia .i would of course always be nice and try not to be horrible and shoot people . Any Voters out there
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Old Nov 12th 2009, 10:49 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by MartinLuther
I keep hearing about the Aus housing bubble bursting but I do wonder; is there an Aus housing bubble? I can see that there is a WA housing bubble and there may be housing bubbles in other states but in Vic I reckon house price rises have been quite muted. 3 years ago growth was zero or negative. This was before the GFC. Looking at prices around the area now I would say that they are 15-20% higher than they were 5 years ago. That's 4-5% a year (simple growth). That's not a bubble. The economies and the housing situations of the Australian states are not as tightly bound as some seem to suggest. It is quite common for some states to be doing well whilst others have been less fortunate.
Know what you mean. Places over here in our village have gone up but some have barely risen in 5 years, well compared to 2000-2004.....
I could have saved 150k if I had bought 3-4 years earlier...perhaps some of the housing was just expensive as of 5 years ago and has stagnated.
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Old Nov 12th 2009, 11:13 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by king kong
no ,not at all . I was thinking i will put me in charge and be real nice to everyone , take away land ownership totally .We can all live in a state of utopia .i would of course always be nice and try not to be horrible and shoot people . Any Voters out there

god damit,can i be your wing man ( sounds a bit gay doesent it)
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Old Nov 12th 2009, 11:19 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Catch
god damit,can i be your wing man ( sounds a bit gay doesent it)
you will get a special uniform as well .
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Old Nov 12th 2009, 11:22 am
  #911  
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by king kong
you will get a special uniform as well .
can i call you maverick
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Old Nov 12th 2009, 11:24 am
  #912  
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by BadgeIsBack
Know what you mean. Places over here in our village have gone up but some have barely risen in 5 years, well compared to 2000-2004.....
I could have saved 150k if I had bought 3-4 years earlier...perhaps some of the housing was just expensive as of 5 years ago and has stagnated.
i was listening to ben elton last night talking about his new book he has released [cant remember name] . He had an interesting slant on the economies and housing but what i found interesting was that although i believe house prices are high here in aussie , he was saying at least australia has a tangible asset for now while its digging it up , he said whats the uk got , nothing it was just all fluff and amke believe money . Thats why the uk is in the pooh more than australia
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Old Nov 12th 2009, 11:26 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Catch
can i call you maverick
yes id like that , we can all be called maverick so as not to discriminate .
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Old Nov 12th 2009, 11:33 am
  #914  
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by swigski
The Govt pay out $5.5 billion in taxes to investors every year.
Shouldn't the correct wording be, the Government reduce the tax payable by investors to the amount of $5.5 billion (? not checked) every year.

After all, if those investors don't pay tax on something else, then they get no tax back on their investment property losses.

However, after a few years, the properties tend to become profitable, and they then begin to pay tax on their investment profits. How much does the government collect in tax paid by all these investors ? That little item hasn't been mentioned ?
 
Old Nov 12th 2009, 11:34 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by king kong
you will get a special uniform as well .
See. It's starting already. Ideology and good intentions just crashed and burned...
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