Bogan King posted:

https://twitter.com/oz_f/status/858973168727277570

Bogan King posted:

Then you'll love this

https://twitter.com/DPlunky/status/858974851108708352

Ora Tzo posted:

And this is not even the most horrific things they want to inflict on all of us as the senate has hamstrung them.

I would blow Dane Cook posted:

Neither of those will work.

I would blow Dane Cook posted:

Apparently you have to report your worldwide income to the ATO lol.

Anidav posted:

55k to 42k? Isn't that creeping Into casual work Territory?

I would blow Dane Cook posted:

I would blow Dane Cook posted:

George Christensen has undergone weight loss surgery in Asia to ­remove 85 per cent of his stomach.

Bogan King posted:

Mining giant Adani faces a possible multi-million-dollar fine after sediment water eight times above authorised levels was discharged from the Abbot Point coal terminal last month, the ABC can reveal.

How the making GBS threads gently caress does anything involving the names Adani or Abbott even exist. Truly the darkest timeline.

JBP posted:

It's a gentrified area but the parking meters thing is bullshit because it basically damages all of the OG residents with small businesses in Yarraville to try and grift the bougies. The most hard nosed violent reprisals are unsurprisingly coming from people that have always lived in the area and solve community issues with proudly local Fisher cricket bats or pure bred Macedonian muscle.

I would blow Dane Cook posted:

https://twitter.com/janeenorman/status/859655300424413184

quote:

Senior management at Fairfax Media were on Sunday locked in urgent meetings after private equity outfit TPG Capital approached the company with an offer to buy its biggest assets.

TPG has offered to buy Fairfax's online real estate business Domain and the company's three big publishing mastheads - The Sydney Morning Herald, The Age and The Australian Financial Review.

Play Video

Comstar posted:

By the assets, loot it, split them up and sell the individual bits to suckers. AKA Alan Bond and how Dick Smith ended.

starkebn posted:

thank you for explaining, but how did Tudge not know he was releasing a persons details which is clearly not right

I would blow Dane Cook posted:

https://twitter.com/SkyBusiness/status/861506277414846464

Ora Tzo posted:

You'll learn to love Mark instead.

Lid posted:

https://www.youtube.com/watch?v=Vj4-nPTmO6M

I STILL CALL AUSTRALIA HOOOOOOOME

Lid posted:

There is no sign of respite for the nation's struggling retailers, particularly department stores, as shoppers refuse to spend in the face on an uncertain economy.

The latest retail sales data from the Australian Bureau of Statistics showed a 0.1 per cent fall in March at the same time as many economists had been tipping a rise.

So now not only are people not buying houses, they aren't buying anything else either. Hmmm.

NoNotTheMindProbe posted:

The rumours I've seen suggest first home owners might be able to salary sacrifice pre-tax income into a savings account that can only be used as a deposit. It means you pay less PAYG tax each week rather than claiming it in your tax return. Salary Sacrificing is usually run though a third party company so it also serves as a big handout from first home owners to certain parts of the finance industry.

Chadzok posted:

was he always a russian shill or did they get a pisstape to hold over him as well?

Periphery posted:

So I can just live of the money I've saved for a deposit while salary sacrificing 100% of my income resulting in a big bonus from the government to use on a house deposit?

tithin posted:

This is misleading, they're cooling everywhere except Sydney and Melbourne.

Anecdotes are not the plural of data, I get that, but I work as a credit assessor for a big 4 bank and I get to see a lot of house values on a daily basis across the country.

Valuations outside of Melbourne and Sydney are flat and falling - there's a good reason that the big 4 are now insisting on re-valuations on a lot of their property profiles / customer groups because in some cases, valuations haven't been done in up to 10 years.

Sales are taking upwards of six months to sell in parts of aus, and multiple years in other parts because they just cant find the buyers.

Anecdotally, I recall one couple in WA buying a property for $600k at the peak of the market, and after two years on the market they sold it for $250k

JBP posted:

Ah ok. I had it in my head that Melbourne was as well, perhaps I was misled myself. Sydney is a write off as far as I'm concerned.

Periphery posted:

In addition to what Tithin said:

That's pretty much irrelevant. The simple fact is that adding more demand to the system will never have a positive effect on housing affordability.

Periphery posted:

In another sign the collapse is near:


Thank god the economy hasn't been propped up by construction jobs!

Oh poo poo.

Periphery posted:

Melbourne recently brought these in but as you'd expect the developer lobby made sure they were pretty watered down. Sydney has had them for a while but I don't know much about theirs - except that Melbourne's standards are generally lower.

tithin posted:

can't speak for APRA requirements, but I can tell you that my particular employer's cracked down loving hard on i/o loans in both commercial and consumer space. so have other banks. This will have been driven by apra, but I sort of suspect it's also been driven by looming paranoia.

you need a damned good reason to get i/o now and "accountant advice" will result in a hard "decline"

NoNotTheMindProbe posted:

So ScoMo wants to fund the Melbourne to Brisbane inland rail network, but which gauge will they use?

Paingod556 posted:

"The major problem, or at least one of the major problems, for there are several... one of the many major problems with governing people is that of whom you get to do it; or rather of who manages to get people to let them do it to them. To summarize: it is a well-known fact that those people who most want to rule people are, ipso facto, those least suited to do it. To summarize the summary: anyone who is capable of getting themselves made President should on no account be allowed to do the job. To summarize the summary of the summary: people are a problem."

WhiskeyWhiskers posted:

I can't imagine the liberals would literally ever be elected again if they fully privatised medicare. Australians are loving idiots, but they like universal healthcare.

quote:

Graduates on low incomes are set to be slugged with an extra $1000 a year in tax as the Turnbull government's changes to the repayment of university fees and an increase in the Medicare levy combine to hit those earning well below the average wage.

In an unexpected consequence of changes announced in Tuesday's federal budget, those earning as little as $37,000 a year and receiving rent assistance will be discouraged from looking for more work because of an increase in the effective marginal tax rate to 100 per cent.

This means that every extra dollar they earn from paid work would be taken away from their rent assistance, cancelling out any financial incentive.

In a separate blow to a government trying to sell its budget to voters, Treasurer Scott Morrison's statements have been described as "wildly optimistic" by a leading economic modeller, who has accused the government of leaving the economy "highly vulnerable".

The extra hit to graduates' personal budgets comes through the Turnbull government's increase in the Medicare levy by 0.5 percentage points to 2.5 per cent in order to fund the $22 billion National Disability Insurance Scheme and reducing the income level at which graduates have to repay their HECS-HELP loan to $42,000 a year.


Under the changes, graduates earning a wage of $48,000 a year will pay an extra $960 a year from 2019, while those earning $54,000 a year will be see their tax bill increase by $1620.

Both of the changes announced in Tuesday's budget still face negotiation with Labor and the Senate crossbench.

On Thursday, Finance Minister Mathias Cormann said: "We believe the measures outlined in the budget are fair."

Labor's finance spokesman Jim Chalmers accused the government of looking after business interests over those on low incomes.

"If this budget was genuinely fair, it would go so some way towards rebuilding trust with people in this building," he said.

A post-budget analysis from the National Centre For Social And Economic Modelling also shows changes to the family tax benefit scheme will disadvantage middle-income families with a $400 tax bill on top of their current payments.

"For a couple earning $110,000 with two kids aged over 12, they are expected to lose $183 a year due to an indexation freeze and $783 a year due to the taper rule changes," NATSEM found.

In broader economic forecasts, the Turnbull government's optimism about returning the budget to surplus by 2020-21 also suffered a blow on Thursday, with Deutsche Bank slashing US growth forecasts for 2018 by 1 per cent as the government looks to sell its budget on the back of a "better times ahead" mantra.


Dr Li also took aim at the government's focus on small and medium-sized businesses as the driver of the economy.

The government is looking to spread company tax cuts to those turning over more than $50 million after its first set of of cuts to those earning less than that amount passed Parliament on Tuesday.

"This government will not rest until we have successfully fought to implement a company tax framework that sets Australia up to have more and better-paid jobs in the future and for future generations," Treasurer Scott Morrison told question time.

Dr Li said the evidence remained thin on whether a continued focus on small and medium size businesses, however innovative, was the key to high economic performance in the global economy.

"We also have no idea as to whether significant investment in infrastructure will deliver large dividends to the Australian economy," he said.

Further damaging surplus prospects, the futures of Australia's largest mining export, iron ore, also took a tumble to a four-month low in China on Thursday, after falling to $US60 a tonne from $US95 in February.

The government had been banking on ploughing any improvement in commodity prices into reducing the federal deficit.

DancingShade posted:

I can't help but wonder if this is all a temper tantrum over refusing to fund the Adani mine with a bank loan.

No? Well gently caress you then, levy time.

Bogan King posted:

https://twitter.com/JamesSilver3/status/863307662963859456

Milky Moor posted:

lid i got very confused by this statement so i decided to check votefinder

there is not a single game where you outlived me

there is also not a single game where you ever beat me

there are, however, multiple games where i convinced people to lynch you. which was very easy, for me, to do.

i do not understand this post. it seems to me that you are angry that not only do i not hate women and obsess about women who disagree with me, but that i also am -- historically -- smarter and better at things than you

quote:

ome loans to investors have fallen to the lowest level in 10 months following a regulatory clampdown and the Turnbull government's efforts to cool the Sydney and Melbourne housing market.

Figures released by the Australian Bureau of Statistics on Monday show home loans to investors as a proportion of all loans dropped 1.25 per cent in March to 48 per cent, down from a high of over half of all home loans in January.

The slide has triggered a dip in property prices across five of Australia's capital cities, fuelling speculation of the end of the property boom.

The latest results from CoreLogic show the price of homes across Sydney, Melbourne, Brisbane, Adelaide and Perth falling by 0.5 per cent for the week and 0.9 per cent for the month.

Sydney's house prices had not fallen in 18 months prior to April, while the number of home loan approvals fell 0.5 per cent in March, dashing expectations of a flat result. Overall, the total value of lending to investors moved slightly higher in March after a 5.7 per cent fall in February.

The figures have been released a week after the federal budget placed further restrictions on the market.

The government has targeted investors by limiting the depreciation of equipment and travel costs they can claim with rental properties, restricting the number of foreign buyers in new developments, reducing capital gains tax concessions for foreigners and placing a levy on foreign owners who leave investment properties vacant.

The numbers also reflect the reaction of the big four banks to comments by Treasurer Scott Morrison in the last week of March after he voiced concerns over the "sharp increase in the level of investor credit", and that measures to stop the growth in risky loans put in place by the Australian Prudential Regulation Authority (APRA) had worn off.

All of Australia's major banks moved swiftly by raising interest rates on investor loans by 0.25 per cent, before sweeping measures were introduced by APRA to force banks to limit interest-only lending to 30 per cent of total new residential mortgage lending.

Since last year, National Australia Bank has had a confidential list of hundreds of suburbs including the Rocks in Sydney, and Docklands in Melbourne, where would-be home owners would have to front up with bigger deposits and stricter lending conditions.


JPMorgan has warned housing investors to prepare for a rate rise of as much as 3 per cent to cope with the new regulations.

Today's housing finance data provides a fairly strong signal that property market activity is beginning to slow.

JPMorgan economist Henry St John
"Taken with the context of last month's report, today's housing finance data provides a fairly strong signal that property market activity is beginning to slow," JPMorgan economist Henry St John said.

In further rate rise threats, banks could hike rates for both investors and owner occupiers across the board, the chief executives of the Commonwealth Bank, ANZ bank, NAB and Westpac have warned, as they threaten to pass on the cost of the $6 billion federal budget levy on banks' profits.

Prime Minister Malcolm Turnbull admitted on Monday the government would be unable to stop the banks from passing on the levy, but hoped that by exempting smaller banks, the threat of losing customers would prevent the big four from doing so.

"Really it's a combination of transparency and competition that will ensure they're under pressure to do the right thing," he told radio station 2SM.

A rate hike could hit first-home buyers who have become more competitive in the market as a result of the government's changes.

According to the ABS, the number of first-home buyer commitments as a percentage of total owner-occupied housing finance commitments rose to 13.6 per cent in March, from 13.3 per cent in February.


Of the loans made to owner occupiers, one in eight was used to build a new house, therefore increasing supply and helping to ease affordability, while only one in 12 loans made to investors was to build a new property, pushing up prices.

The government hopes that allowing first-home buyers to salary sacrifice up to $30,000 in pre-tax income into their super accounts will give them better access to the market.

But an analysis of the government's figures show that savers would be able to put away only an extra 1 per cent of the median property price in its target markets of Sydney and Melbourne under the government's changes.

Speaking at the Australian Council of Social Services on Monday, Mr Morrison repeated that there were no "silver bullet solutions to making housing more affordable", while warning that sweeping adjustments to policy settings in housing "risk cooling some red-hot markets while at the same time, causing a collapse in markets that are weak".

Lid posted:

It's... happening?