|
Jonah Galtberg posted:First home buyers get up to 30k I was going to say it's probably only 150k of tax write off, since you're only getting 50c tax free in the dollar, but then I realised it's per person, so assuming most people are in couples, it's 300k per household.
|
#
?
Mar 20, 2018 10:17
|
|
|
|
| # ? May 24, 2024 17:42 |
|
|
Anidav posted:
what a great way to try and make houses more expensive in this slowing market
|
|
#
?
Mar 20, 2018 10:22
|
|
|
"Malcolm Turnbull granted Tony Abbott extra travel entitlements for the use of chauffeured cars in Sydney after replacing him as prime minister, according to documents obtained by Guardian Australia." End of the age of entitlement.
|
|
#
?
Mar 20, 2018 10:39
|
|
|
Anidav posted:
Gross
|
|
#
?
Mar 20, 2018 11:31
|
|
|
15k a year is 1153.85 a month. Or roughly 5 times what the average millennial is going to have on hand after rent and bills. Gonna be great for trust fund kiddies though,
|
|
#
?
Mar 20, 2018 11:39
|
|
|
Does that first one mean you can now use super to buy property? Because 
|
|
#
?
Mar 20, 2018 12:05
|
|
|
using your super to buy property would be great for me and my partner, as we could use my super to buy a house because I plan on dying before I reach retirement age terrible for everyone else who is going to live though
|
|
#
?
Mar 20, 2018 12:07
|
|
|
I've worked probably approximately median wage jobs over 15 of the last 20 years and if I withdrew every cent in super it still wouldn't make a deposit (or even half a deposit) on the median house price in Melbourne. It's a decoy. The government furiously  while the boss walks by hoping they don't notice you're hammering garbage into the Windows search bar.I guess they passed it though because with everything else going on that they've gotten away with why the gently caress not.
|
|
#
?
Mar 20, 2018 12:20
|
|
|
froglet posted:So folks, a television producer is asking me if I'd be interested in talking to them about the gender wage gap since I shared a story somewhere public about getting paid less than a dude for the same job. If it's for a programme on SBS or the ABC, I'd say go for it if you can guarantee your safety career-wise. Any of the commercial stations? There's no way it's anything other than a hit piece on women.
|
|
#
?
Mar 20, 2018 12:22
|
|
|
Google “FHSS” for information on contributing money to your Super fund and then ‘releasing’ it when you’re ready to purchase your first home. Cliff notes: Contribute a maximum of $15000 per year and a maximum of $30000 over all years to your Super fund. It’ll get taxed at the standard 15%. When you’re ready to ‘release’ the funds, you’re taxed at your marginal tax rate (+ Medicare levy) minus a 30% offset. You also get to release the growth of those contributions (maximum of 4.8% or whatever the current SIC rate is). Basically you benefit from having a tax offset on your earnings. Fun part: if you’re saving (like I am) and are looking to buy later this year, you probably already have $15000 in savings. Make a non-concessional contribution to your Super and file an ‘intent to claim tax deduction’ on your contribution. Once July 1 hits you can release the funds, and you’ll be better off by roughly $2000 than if the FHSS wasn’t introduced. Oddly, the FHSS is less useful for people below the $37000 income bracket because the available tax offset isn’t fully utilised.
|
|
#
?
Mar 20, 2018 12:28
|
|
|
Paracetamol posted:Google “FHSS” for information on contributing money to your Super fund and then ‘releasing’ it when you’re ready to purchase your first home. Hello are you a wizard
|
|
#
?
Mar 20, 2018 12:33
|
|
|
JBP posted:Hello are you a wizard I’m not sure I get your reference. Yes, the FHSS isn’t the answer to housing affordability, but for people in my specific position it’s an extra $2000 for a deposit with little effort. Really I want a recession to happen and the wankers with 10 investment properties to go bankrupt and have to fire sale their properties so that I can buy a place to call my own. And gently caress negative gearing off for existing properties too. Oh and guillotine the rich.
|
|
#
?
Mar 20, 2018 12:43
|
|
|
Paracetamol posted:And gently caress negative gearing off for existing properties too. Oh and guillotine the rich. 100% with you on both of those. If you’re not contributing to new housing stock why the gently caress is there a tax incentive attached. It’s madness.
|
|
#
?
Mar 20, 2018 12:52
|
|
|
Yeah I mean I'm going to take this free money, thanks.
|
|
#
?
Mar 20, 2018 12:53
|
|
|
Gorilla Salad posted:If it's for a programme on SBS or the ABC, I'd say go for it if you can guarantee your safety career-wise. Channel 9, sadly.
|
|
#
?
Mar 20, 2018 13:22
|
|
|
froglet posted:Channel 9, sadly. yeah, nah.
|
|
#
?
Mar 20, 2018 13:27
|
|
|
So, if there's a major housing market crash and banks are foreclosing on properties left, right and centre, what happens to the people who are renting in those properties who have to find a new place to rent, cough up bond and do this in a market where suddenly there's a real shortage of rental properties available in the short term?
|
|
#
?
Mar 20, 2018 13:33
|
|
|
From the team that brought you ACA and sunrise,
|
|
#
?
Mar 20, 2018 13:36
|
|
|
CrazyTolradi posted:So, if there's a major housing market crash and banks are foreclosing on properties left, right and centre, what happens to the people who are renting in those properties who have to find a new place to rent, cough up bond and do this in a market where suddenly there's a real shortage of rental properties available in the short term? The renters get hosed.
|
|
#
?
Mar 20, 2018 13:37
|
|
|
Paracetamol posted:Really I want a recession to happen and the wankers with 10 investment properties to go bankrupt and have to fire sale their properties so that I can buy a place to call my own. And gently caress negative gearing off for existing properties too. Oh and guillotine the rich. I agree op, but I want it to happen before the election, so the LNP truly earn the much deserved ire for being lovely at fiscal management rather than being able to pass the buck yet again.
|
|
#
?
Mar 20, 2018 13:39
|
|
|
DancingShade posted:The renters get hosed.
|
|
#
?
Mar 20, 2018 13:40
|
|
|
CrazyTolradi posted:So, if there's a major housing market crash and banks are foreclosing on properties left, right and centre, what happens to the people who are renting in those properties who have to find a new place to rent, cough up bond and do this in a market where suddenly there's a real shortage of rental properties available in the short term? Maybe they go to market with rental agreements intact, because the bank can swipe the rental income on the property during that period? There are people who will buy a property despite an existing lease arrangement, probably.
|
|
#
?
Mar 20, 2018 13:40
|
|
|
CrazyTolradi posted:That's basically been my point to people who go around saying "I really wish we'd have a major housing market crash so all these properties can flood the market". If you're renting it's just wishing someone would come along and kick you out onto the streets basically. Renters are already getting hosed now, at least the other way leads to boomers going bankrupt and the banks having to sell the houses to someone to make back costs, and that someone could easily be renters who suddenly find their dollar of tomorrow worth twice that of today.
|
|
#
?
Mar 20, 2018 13:42
|
|
|
Also during a crash, those with real capital will gain the most.
|
|
#
?
Mar 20, 2018 13:43
|
|
|
Paracetamol posted:I’m not sure I get your reference. You need to include a clause to only allow it to be claimed on a new build on a property once every 15/20 years or if the density increases. Otherwise you have a perverse incentive to bulldoze the residual value (both financial and environmental) in relatively recent existing dwellings over building legitimate new housing stock.
|
|
#
?
Mar 20, 2018 13:46
|
|
|
NTRabbit posted:Renters are already getting hosed now, at least the other way leads to boomers going bankrupt and the banks having to sell the houses to someone to make back costs, and that someone could easily be renters who suddenly find their dollar of tomorrow worth twice that of today. Zenithe posted:Also during a crash, those with real capital will gain the most.
|
|
#
?
Mar 20, 2018 13:48
|
|
|
CrazyTolradi posted:That's basically been my point to people who go around saying "I really wish we'd have a major housing market crash so all these properties can flood the market". If you're renting it's just wishing someone would come along and kick you out onto the streets basically. While that's true, the price of rent closely tracks the cost of a (new) mortgage on a given property. So the short term is another moving day but in a crash the rents will drop as the new buyer have smaller capital outlays to cover to make up their costs. The peak buyers will hold out as long as they can for the old rents, but that can only go on for so long until they are forced to sell or accept a loss.
|
|
#
?
Mar 20, 2018 13:53
|
|
|
Paracetamol posted:Google “FHSS” for information on contributing money to your Super fund
|
|
#
?
Mar 20, 2018 13:54
|
|
|
Mr Chips posted:Google thinks I'm more interested in frequency-hopping spread spectrum radio transmission than first home super saver schemes. I guess they've figured out I'm in the wrong demographic to ever own a house. Go past the first item returned in the search. https://www.ato.gov.au/Individuals/Super/Super-housing-measures/First-Home-Super-Saver-Scheme/ Edit: nvm I’m thick; sorry. Also, apologies about hoping for a crash. I hadn’t thought about the renters (there was more bloodlust for boomer tears). Agreed, it is the people who are already rich that gain the most from a crash. And fair call on the clause for negative gearing only on a particular patch of land every X years.
|
|
#
?
Mar 20, 2018 14:02
|
|
|
norp posted:While that's true, the price of rent closely tracks the cost of a (new) mortgage on a given property. So the short term is another moving day but in a crash the rents will drop as the new buyer have smaller capital outlays to cover to make up their costs. And the main reason to worry about this kind of scenario is that you know the state and federal governments will argue with each other over who is to blame and who should fix it while nothing actually gets done.
|
|
#
?
Mar 20, 2018 14:03
|
|
|
I'm not sure what the rules are like in other states but in Vic the idea that wealthy homeowner goes bankrupt = tenants immediately kicked out because new owner is just not true. Tenants Union Victoria posted:Just because the owner is selling, it doesn’t mean that you have to move out of the property. Your tenancy agreement still remains in place and has to be terminated in the proper way.
|
|
#
?
Mar 20, 2018 14:18
|
|
|
Whitlam posted:I'm not sure what the rules are like in other states but in Vic the idea that wealthy homeowner goes bankrupt = tenants immediately kicked out because new owner is just not true. quote:28-day notice to vacate by mortgagee
|
|
#
?
Mar 20, 2018 15:00
|
|
|
Fair enough, and I know a month isn't a lot of time to find a new place, especially if there are complicating factors (e.g. disability, pets, location requirements, etc.) but my point is that it isn't like homeowner goes broke = tenant's out on the street the next day. I'll totally accept this is speculation (  ) but the majority of mortgagees are banks. In the event of a major economic upset resulting in swathes of people defaulting, "kicking out renters who are paying rent on the property in full and on time" is not going to be top of their priorities. But that said, point taken, distinction recognised.
|
|
#
?
Mar 20, 2018 15:20
|
|
|
The problem is that a major housing crash usually goes hand in hand with a general recession, and if that happens renters are going to lose their jobs too and be unable to pay their rent.
|
|
#
?
Mar 20, 2018 15:24
|
|
|
I'm torn about wanting a recession on the LNP's watch vs the ALP. Unless it's right on the cusp of an election the LNP will almost certainly use it as an excuse to go full austerity and give everyone a proper fisting, while at least I trust the ALP to be competent enough to stave off the worst of it.
|
|
#
?
Mar 20, 2018 20:03
|
|
|
If a little hardship is what finally encourages people in Australia to eat the rich, then so be it
|
|
#
?
Mar 20, 2018 20:23
|
|
|
NTRabbit posted:If a little hardship is what finally encourages people in Australia to eat the rich, then so be it Enough people are sufficiently dumb that the media (owned by the rich) would convince them it was the fault of some other group.
|
|
#
?
Mar 20, 2018 20:52
|
|
|
NTRabbit posted:If a little hardship is what finally encourages people in Australia to eat the rich, then so be it Except if there are any lessons to be taken from other parts of the world it is just as likely to encourage people to eat the muslims
|
|
#
?
Mar 20, 2018 20:52
|
|
|
The Gold Coast City Council will be offering free wi-fi to visitors at next month's Commonwealth Games, but people using Facebook to log in to the service will have their data mined by council for tourism marketing.
|
|
#
?
Mar 20, 2018 22:21
|
|
|
|
| # ? May 24, 2024 17:42 |
|
|
DancingShade posted:Enough people are sufficiently dumb that the media (owned by the rich) would convince them it was the fault of some other group. Just look at how much dog whistling is going on about refugees and immigration at the moment so the government can have something to cover their arse when things go pear shaped.
|
|
#
?
Mar 20, 2018 22:32
|
|
