Re: Bank Warning on Australian Property Price Bubble
 

the most sensible 2 lines on this subject

Re: Bank Warning on Australian Property Price Bubble
 

2 young girls from Croydon with a bit of cash?

Must have been on the game :p

Re: Bank Warning on Australian Property Price Bubble
 

Don't ask, don't tell!

Re: Bank Warning on Australian Property Price Bubble
 

That tax is the Most reprehensible and unfair of all tax policies.

Re: Bank Warning on Australian Property Price Bubble
 

Why do think that? I have always thought it was one of the best taxes.

Re: Bank Warning on Australian Property Price Bubble
 

“The only difference between a tax man and a taxidermist is that the
taxidermist leaves the skin.”

-- Mark Twain

Re: Bank Warning on Australian Property Price Bubble
 

So, a person works hard to provide for their dependants, and has to pay extra tax over and above normal tax, all because they die ?

It sends one message. If you plan to do well, move out of the country :lol:

Re: Bank Warning on Australian Property Price Bubble
 

Thats not the case around Sydney.

Clipping from Yesterdays Daily Telegraph.

Re: Bank Warning on Australian Property Price Bubble
 

It is all very well for people to say it is better to buy than rent because buyers are supposedly going to be $ 'x' million better off. But how many people can actually afford to buy a place in the suburb they are renting? Some of the houses and apartments that are being leased in our area are yielding between 1.5% and 2.5% net. So why spend $1 million (plus stamp duty and other buying costs) for a place when you can rent it for $340 p/w? Or pay $600k for a 2 bedroom apartment when you can rent it for $320-360 p/w.

Re: Bank Warning on Australian Property Price Bubble
 

Huge variations throughout the country with everything, rent, house prices etc etc.
Really, people should not generalise too much but this is BE!:rolleyes:

Re: Bank Warning on Australian Property Price Bubble
 

Exactly.

If there is a bubble burst it wont affect the whole country uniformly.

Re: Bank Warning on Australian Property Price Bubble
 

"You have to be pretty foolish to think a property will be worth less in 10 years? For me it's a no brainer I was spending $26k a year in rent!

Sure if your trying to make a fast buck out of property short term now - you probably are a donut."

I wish it was true

I bought my property 7 years ago, it is now worth (at most) 20% less than I paid for it. Completely irrelevant as long as I want to live in it .. but what I didn't factor in was meeting a handsome Ozzie man, and relocating to the other side of the world with him and wanting to start a family. Doh!

Note to all buyers, consider what you would do with the property if you met a handsome man/sexy woman (take your pick) from the other side of the world and you wish to relocate with them 7 years after you buy. I wish someone had told me to consider that when I bought ... but not a single person did ;)

Dam banks too keen to party with their money, well meaning family/friends thinking I'd be better of with this "smart" investment, and positive thinking me assuming that I could always sell it if I wanted !!!! It's just not true.

Re: Bank Warning on Australian Property Price Bubble
 

:thumbup:I quite agree with you!:thumbup:

You start with nothing,
You work round the clock 6/7 days a week
You pay corporation tax on profits
You pay income tax on income earned
You pay tax on any dividends
you pay tax on interest on any savings made
and adding insult to injury you pay 40% tax on whats left over £325k on death.

You are in effect paying tax on taxed income.

This is the second reason that I am leaving UK, only Daughter in OZ being the primary reason.

If Daughter was not in OZ and other than investors visa could not get to OZ I would be off to Cyprus:

No IHT and tax at 5% on income and as a bonus you get the annual increase in the UK state pension!!! And like OZ the sun shines:thumbup:

Regards

Re: Bank Warning on Australian Property Price Bubble
 

There is a slight issue with domicile of origin and a dual tax agreement. Make sure that the UK Revenue don't get wind of the fact that you pop your cloggs. Also, you do get 650k exempt for a married couple.

Re: Bank Warning on Australian Property Price Bubble
 

I guess inheritance tax exists because if it didn't at some point in the future nobody would have to work to earn money anymore?