1.93's A$ to the Pound!!!
Nov 12th 2009, 6:19 am
#901
poole ,dorset . love it
Joined: Mar 2007
Posts: 1,281
Re: 1.93's A$ to the Pound!!!
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?
Why don't the Government spend the $5.4 billion a year they give out as tax payments to investors on building houses on a lease to purchase scheme or a 50/50 rent/mortgage scheme. It would certainly be money better spent, allow thousands of low income earners a foot on the housing ladder and provide jobs to builders nationwide.
But, is this in the best interests of the Government?
The system that is in place is collapsing , the cellar dwellers are holding up the rest and are expected to work longer for less and be greatful . Good knows what all these pen pushing waste of times are going to do when the pooh really hits the fan when ever that will be .
The whole system is corrupt , banks , building societies , governments , state governments , its nothing but another serf /master situation .
viva the revolution .
Thats the best i can come up with for the answer to all the greed going on around the western world these days .
Nov 12th 2009, 6:32 am
#902
Account Closed
Joined: Apr 2007
Posts: 495
Re: 1.93's A$ to the Pound!!!
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 .
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 .
Nov 12th 2009, 6:35 am
#903
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: 1.93's A$ to the Pound!!!
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?
Why don't the Government spend the $5.4 billion a year they give out as tax payments to investors on building houses on a lease to purchase scheme or a 50/50 rent/mortgage scheme. It would certainly be money better spent, allow thousands of low income earners a foot on the housing ladder and provide jobs to builders nationwide.
But, is this in the best interests of the Government?
The main reason is that the government would have to step in and provide more social housing. This is not in the best interests of the tax payer (the people who fund the government - at least in Aus).
Nov 12th 2009, 6:39 am
#904
Banned
Joined: May 2007
Location: Sydney
Posts: 564
Re: 1.93's A$ to the Pound!!!
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).
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).
The Govt pay out $5.5 billion in taxes to investors every year. Couldn't this be used to provide housing??
Nov 12th 2009, 6:42 am
#905
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: 1.93's A$ to the Pound!!!
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 .
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 .
Doesn't sound so good.
Nov 12th 2009, 6:45 am
#906
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: 1.93's A$ to the Pound!!!
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??
The Govt pay out $5.5 billion in taxes to investors every year. Couldn't this be used to provide housing??
I guess they could use some of the money to hand out housing on a silver platter. I've seen social housing projects. They don't work.
Last edited by MartinLuther; Nov 12th 2009 at 6:47 am.
Nov 12th 2009, 8:17 am
#907
poole ,dorset . love it
Joined: Mar 2007
Posts: 1,281
Re: 1.93's A$ to the Pound!!!
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.
Doesn't sound so good.
Nov 12th 2009, 9:49 am
#908
Lost in BE Cyberspace
Joined: Oct 2005
Location: Hill overlooking the SE Melbourne suburbs
Posts: 16,622
Re: 1.93's A$ to the Pound!!!
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.
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.
Nov 12th 2009, 10:13 am
#909
Account Closed
Joined: Apr 2007
Posts: 495
Re: 1.93's A$ to the Pound!!!
god damit,can i be your wing man ( sounds a bit gay doesent it)
Nov 12th 2009, 10:24 am
#912
poole ,dorset . love it
Joined: Mar 2007
Posts: 1,281
Re: 1.93's A$ to the Pound!!!
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 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.
Nov 12th 2009, 10:33 am
#914
Guest
Posts: n/a
Re: 1.93's A$ to the Pound!!!
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 ?
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 ?