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scruffy1

how crap is this government ?

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On 7/8/2019 at 11:22 PM, Jeruselem said:

In New Zealand, the government has killed off negative gearing. Of course in Australia, this isn't happening anytime soon.

https://www.newshub.co.nz/home/politics/2018/05/property-investors-lose-out-as-government-ends-negative-gearing.html

 

New Zealand also has a sensible tax system. You pay tax on every dollar you earn. None of this $20k tax-free threshold shit.

17 hours ago, Rybags said:

As Leo would put it, that's Capitalism at work.

 

The only thing dumber than implementing negative gearing, is getting rid of it.

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14 hours ago, Rybags said:

Generally rent will be 0.1% per week of the value of the property.

So, a $130,000 house in 1990 would have pulled in about $130 a week.  A $500,000 house in 2015 pulled in $500 a week.

In 1990 the interest rate would have been about 13% vs maybe 5.5% in 2015.

 

So based on 80% borrowing in both cases, $13,520 PA vs $22,000 (simple calculation so expect a bit of error).

Translates to interest expense of $260 vs $423 per week.

 

Without even bothering to do the exact maths, you have the 1990 investment having double the interest vs rental income.  And the 2015 investment costing less in interest than the rent coming in.

Actually, my interest rate for 1990 is likely understated, so the expense claimable would have been even higher back then.

 

So, "remember when" scenarios will likely see you making less money in times past.

Got any examples from before the inflation craziness of the 80s and 90s?
Maybe from overseas where there aren't the same tax breaks for house speculation?

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On 6/9/2019 at 3:50 AM, Leonid said:

Yes FB and Google don’t dig up our land. They just invade our privacy and sell data to the highest bidder.

That's really infuriating. Everyone spies on everyone. I use vpn all the time and can't wait till they create something new. I've been watching a curious project called FigLeaf  (spying again!), they promise to create a privacy dashboard that will help users to control what personal info sites may see. They're beta-testing it now, also there are a lot of nice articles on their blog here

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MyGov has gone down like lead sinker due people trying lodge tax returns and getting payment summaries.

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VIc government has plans to replace flammable cladding on ... 500 BUILDINGS . I know NSW hasn't done an audit but I assume it's gonna be just as bad.

 

So we got new buildings which are giant torches made from bad concrete and are structurally problematic. Fantastic.

 

https://www.abc.net.au/news/2019-07-16/flammable-cladding-removal-fund-victorian-government/11311518

Edited by Jeruselem

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On 7/9/2019 at 9:14 PM, Rybags said:

 

 

As Kimmo would put it, the so-called "rich investor" should be emptying their pockets and providing someone poorer than themselves with somewhere to live.

 

Fixed it for you.

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7 hours ago, Jeruselem said:

VIc government has plans to replace flammable cladding on ... 500 BUILDINGS . I know NSW hasn't done an audit but I assume it's gonna be just as bad.

 

So we got new buildings which are giant torches made from bad concrete and are structurally problematic. Fantastic.

 

https://www.abc.net.au/news/2019-07-16/flammable-cladding-removal-fund-victorian-government/11311518

 

 

more of ours need to replace the building on the buildings

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Can't say i care for the idea of Adani wanting names of the scientists involved in reaching conclusions, especially as the dudes aren't employed personally but come via CSIRO 😕 I think Adani should back the fuck off.

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