Australian Politics Forum - Axing CGT concessions on the family home

Redmond Neck

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Re: Axing CGT concessions on the family home
Reply #15 - Jan 11^th, 2016 at 5:37pm

longweekend58 wrote on Jan 11^th, 2016 at 5:03pm:

Redmond Neck wrote on Jan 11^th, 2016 at 12:11pm:

Baronvonrort wrote on Jan 11^th, 2016 at 11:34am:

Redmond Neck wrote on Jan 11^th, 2016 at 11:30am:

Capital gains on family Homes over $2M , I don't see it as an issue.

Just about every house in my suburb is worth over 2 million.

Then pay your CGT and your massive gains Silvertail and be quiet

you are a pov-renter, right?

Can I rent your fibro govie please?

Oops sorry thats right you dont own it Maria

Grin

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Sir lastnail

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Re: Axing CGT concessions on the family home
Reply #16 - Jan 11^th, 2016 at 5:48pm

John Smith wrote on Jan 11^th, 2016 at 10:34am:

Axing capital gains tax exemption on homes could raise $46b, new research says

The Federal Government could raise as much as $46 billion a year if it axes the capital gains tax (CGT) exemption on the family home, according to new research.

A new Capital Gains Tax report, issued by think tank The Australia Institute with data by the National Centre for Social and Economic Modelling, said that more than half the benefit of the CGT exemption was enjoyed by households in the top 20 per cent of incomes.

The report estimated that ending the exemption for houses worth more than $2 million would still draw nearly $12 billion in new revenue over four years.

Australia Institute executive director Ben Oquist said at an annual loss of $46 billion, the CGT exemption for primary residences was costing the Government more than its entire defence or aged pension spending.

Mr Oquist told the ABC it would be "nonsensical" to exclude the exemption from serious tax reform.

"While it's probably politically unrealistic to think about removing that exemption altogether, one thing we've modelled today is looking at removing the exemption for homes worth more than $2 million," he said.

"Such a move would affect a very small amount of the population."

http://www.abc.net.au/news/2016-01-11/capital-gains-tax-reform-could-raise-46-bi...

won't happen .... nor should it.

It's a good idea because we are paying 100 mill a day in interest payments alone on government borrowings.

As well CGT concessions should be removed on investment properties and so should negative gearing.

As for the family home it would make old folks think twice about flogging their home to the highest foreign chinese bidder Wink

Tax the house hoarding buggers for sitting on their big fat arses and doing nothing productive for the country !!

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Sir lastnail

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Re: Axing CGT concessions on the family home
Reply #17 - Jan 11^th, 2016 at 5:50pm

longweekend58 wrote on Jan 11^th, 2016 at 5:02pm:

it's another of those dopey ideas that get floated from time to time that has a snowballs chance in hell of being adopted. it is an immediate death sentence to any government foolish enough to try it on. libs would probably lose half their primary vote if they tried and labor almost as much. even before you discuss the unfairness and idiocy of the move, you need to realise it will never happen.

you don't have to worry because your old fibro dump is worth f.ckall after GMH vacates elizabeth Cheesy

LOL

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longweekend58

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Re: Axing CGT concessions on the family home
Reply #18 - Jan 11^th, 2016 at 6:15pm

Sir lastnail wrote on Jan 11^th, 2016 at 5:48pm:

John Smith wrote on Jan 11^th, 2016 at 10:34am:

Axing capital gains tax exemption on homes could raise $46b, new research says

The Federal Government could raise as much as $46 billion a year if it axes the capital gains tax (CGT) exemption on the family home, according to new research.

A new Capital Gains Tax report, issued by think tank The Australia Institute with data by the National Centre for Social and Economic Modelling, said that more than half the benefit of the CGT exemption was enjoyed by households in the top 20 per cent of incomes.

The report estimated that ending the exemption for houses worth more than $2 million would still draw nearly $12 billion in new revenue over four years.

Australia Institute executive director Ben Oquist said at an annual loss of $46 billion, the CGT exemption for primary residences was costing the Government more than its entire defence or aged pension spending.

Mr Oquist told the ABC it would be "nonsensical" to exclude the exemption from serious tax reform.

"While it's probably politically unrealistic to think about removing that exemption altogether, one thing we've modelled today is looking at removing the exemption for homes worth more than $2 million," he said.

"Such a move would affect a very small amount of the population."

http://www.abc.net.au/news/2016-01-11/capital-gains-tax-reform-could-raise-46-bi...

won't happen .... nor should it.

It's a good idea because we are paying 100 mill a day in interest payments alone on government borrowings.

As well CGT concessions should be removed on investment properties and so should negative gearing.

As for the family home it would make old folks think twice about flogging their home to the highest foreign chinese bidder Wink

Tax the house hoarding buggers for sitting on their big fat arses and doing nothing productive for the country !!

another pov-renter.

no ideas, no hope and no clue. just hate for his betters... which is an awfully large number of people.

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longweekend58

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Re: Axing CGT concessions on the family home
Reply #19 - Jan 11^th, 2016 at 6:21pm

Sir lastnail wrote on Jan 11^th, 2016 at 5:50pm:

longweekend58 wrote on Jan 11^th, 2016 at 5:02pm:

it's another of those dopey ideas that get floated from time to time that has a snowballs chance in hell of being adopted. it is an immediate death sentence to any government foolish enough to try it on. libs would probably lose half their primary vote if they tried and labor almost as much. even before you discuss the unfairness and idiocy of the move, you need to realise it will never happen.

you don't have to worry because your old fibro dump is worth f.ckall after GMH vacates elizabeth Cheesy

LOL

I am 35kms from Elizabeth dip-stick. But when mitsubishi closed it actually increased the value of my home since I am 2km away!

you know so little about housing prices that it is quite surprising.

idiots laugh at you!

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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mariacostel

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Re: Axing CGT concessions on the family home
Reply #20 - Jan 11^th, 2016 at 6:25pm

A $2M starting point is a daft idea given the huge variation in typical prices in different cities. $2M in Hobart would buy you half a suburb while in Sydney it wouldnt even get you into a inner suburb.

The whole idea is one of those ridiculous ideas that a boffin in a cubicle comes up with before he has his morning coffee and the media runs with it. It has zero hope of ever being adopted by a rational government of any persuasion. As one poster has said, it would effectively require interest payments on loans and costs of ownership such as depreciation, council rates, maintenance and repair to be included. Admittedly, this would employ 100,000 public servants to manage and at the end of the day would raise only a small portion of what this OP claims.

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Sir Grappler Truth Teller OAM

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Re: Axing CGT concessions on the family home
Reply #21 - Jan 11^th, 2016 at 6:26pm

In the middle of the road you see the darndest things
Like fat guys driving 'round in jeeps through the city
Wearing big diamond rings and silk suits
Past corrugated tin shacks full up with kids
Oh man I don't mean a hampstead nursery
When you own a big chunk of the bloody third world
The babies just come with the scenery...

The Pretenders...

Maybe we should all live in a corrugated tin shack and gain nothing. I mean - it's your family home.... not an investment property.. and you can surely sell it and downsize without penalty..... not your fault it's now worth a mint.... you pay mega rates just to have it..... etc... and paid a mint in mortgage payments...

Get out before the market collapses like a junkie's mainline vein (man)....

(three word slogan)...

Flick The Government!

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Maqqa Gold Member Offline 14% - that low?! Posts: 16000	Re: Axing CGT concessions on the family home Reply #22 - Jan 11^th, 2016 at 6:56pm Sir lastnail wrote on Jan 11^th, 2016 at 5:48pm: As for the family home it would make old folks think twice about flogging their home to the highest foreign chinese bidder Then the owner will just increase the price to make up for the tax You've just inflated the property market even more
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beer Senior Member Offline Australian Politics Posts: 274 sydney Gender:	Re: Axing CGT concessions on the family home Reply #23 - Jan 11^th, 2016 at 8:59pm No one talks about cut budget or put a up limit, only taxation, find thousands of ways to take money. Whose gov it is?
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Sir lastnail

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Re: Axing CGT concessions on the family home
Reply #24 - Jan 11^th, 2016 at 9:32pm

longweekend58 wrote on Jan 11^th, 2016 at 6:15pm:

Sir lastnail wrote on Jan 11^th, 2016 at 5:48pm:

John Smith wrote on Jan 11^th, 2016 at 10:34am:

Axing capital gains tax exemption on homes could raise $46b, new research says

The Federal Government could raise as much as $46 billion a year if it axes the capital gains tax (CGT) exemption on the family home, according to new research.

A new Capital Gains Tax report, issued by think tank The Australia Institute with data by the National Centre for Social and Economic Modelling, said that more than half the benefit of the CGT exemption was enjoyed by households in the top 20 per cent of incomes.

The report estimated that ending the exemption for houses worth more than $2 million would still draw nearly $12 billion in new revenue over four years.

Australia Institute executive director Ben Oquist said at an annual loss of $46 billion, the CGT exemption for primary residences was costing the Government more than its entire defence or aged pension spending.

Mr Oquist told the ABC it would be "nonsensical" to exclude the exemption from serious tax reform.

"While it's probably politically unrealistic to think about removing that exemption altogether, one thing we've modelled today is looking at removing the exemption for homes worth more than $2 million," he said.

"Such a move would affect a very small amount of the population."

http://www.abc.net.au/news/2016-01-11/capital-gains-tax-reform-could-raise-46-bi...

won't happen .... nor should it.

It's a good idea because we are paying 100 mill a day in interest payments alone on government borrowings.

As well CGT concessions should be removed on investment properties and so should negative gearing.

As for the family home it would make old folks think twice about flogging their home to the highest foreign chinese bidder Wink

Tax the house hoarding buggers for sitting on their big fat arses and doing nothing productive for the country !!

another pov-renter.

no ideas, no hope and no clue. just hate for his betters... which is an awfully large number of people.

and what's your solution areshole ? raise the GST and slap it on nickel and dime ebay purchases ? Good luck with that Cheesy

LOL

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Sir lastnail Gold Member Online Australian Politics Posts: 30512 Gender:	Re: Axing CGT concessions on the family home Reply #25 - Jan 11^th, 2016 at 9:34pm beer wrote on Jan 11^th, 2016 at 8:59pm: No one talks about cut budget or put a up limit, only taxation, find thousands of ways to take money. Whose gov it is? rubbish government with no idea other than to screw the battlers whilst they shovel more money into the pockets of the wealthy
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Sir lastnail

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Re: Axing CGT concessions on the family home
Reply #26 - Jan 11^th, 2016 at 9:39pm

mariacostel wrote on Jan 11^th, 2016 at 6:25pm:

A $2M starting point is a daft idea given the huge variation in typical prices in different cities. $2M in Hobart would buy you half a suburb while in Sydney it wouldnt even get you into a inner suburb.

The whole idea is one of those ridiculous ideas that a boffin in a cubicle comes up with before he has his morning coffee and the media runs with it. It has zero hope of ever being adopted by a rational government of any persuasion. As one poster has said, it would effectively require interest payments on loans and costs of ownership such as depreciation, council rates, maintenance and repair to be included. Admittedly, this would employ 100,000 public servants to manage and at the end of the day would raise only a small portion of what this OP claims.

f.ckoff longprong69

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longweekend58

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Re: Axing CGT concessions on the family home
Reply #27 - Jan 12^th, 2016 at 12:09pm

Sir lastnail wrote on Jan 11^th, 2016 at 9:39pm:

mariacostel wrote on Jan 11^th, 2016 at 6:25pm:

A $2M starting point is a daft idea given the huge variation in typical prices in different cities. $2M in Hobart would buy you half a suburb while in Sydney it wouldnt even get you into a inner suburb.

The whole idea is one of those ridiculous ideas that a boffin in a cubicle comes up with before he has his morning coffee and the media runs with it. It has zero hope of ever being adopted by a rational government of any persuasion. As one poster has said, it would effectively require interest payments on loans and costs of ownership such as depreciation, council rates, maintenance and repair to be included. Admittedly, this would employ 100,000 public servants to manage and at the end of the day would raise only a small portion of what this OP claims.

f.ckoff longprong69

obviously her response was too detailed and too intellectual for you.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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Lisa Jones

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Re: Axing CGT concessions on the family home
Reply #28 - Jan 12^th, 2016 at 12:16pm

Sir lastnail wrote on Jan 11^th, 2016 at 9:39pm:

mariacostel wrote on Jan 11^th, 2016 at 6:25pm:

A $2M starting point is a daft idea given the huge variation in typical prices in different cities. $2M in Hobart would buy you half a suburb while in Sydney it wouldnt even get you into a inner suburb.

The whole idea is one of those ridiculous ideas that a boffin in a cubicle comes up with before he has his morning coffee and the media runs with it. It has zero hope of ever being adopted by a rational government of any persuasion. As one poster has said, it would effectively require interest payments on loans and costs of ownership such as depreciation, council rates, maintenance and repair to be included. Admittedly, this would employ 100,000 public servants to manage and at the end of the day would raise only a small portion of what this OP claims.

f.ckoff longprong69

There's no need for that abuse.

And what she posted was 100% correct!

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Sir lastnail

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Re: Axing CGT concessions on the family home
Reply #29 - Jan 12^th, 2016 at 12:23pm

longweekend58 wrote on Jan 12^th, 2016 at 12:09pm:

Sir lastnail wrote on Jan 11^th, 2016 at 9:39pm:

mariacostel wrote on Jan 11^th, 2016 at 6:25pm:

A $2M starting point is a daft idea given the huge variation in typical prices in different cities. $2M in Hobart would buy you half a suburb while in Sydney it wouldnt even get you into a inner suburb.

The whole idea is one of those ridiculous ideas that a boffin in a cubicle comes up with before he has his morning coffee and the media runs with it. It has zero hope of ever being adopted by a rational government of any persuasion. As one poster has said, it would effectively require interest payments on loans and costs of ownership such as depreciation, council rates, maintenance and repair to be included. Admittedly, this would employ 100,000 public servants to manage and at the end of the day would raise only a small portion of what this OP claims.

f.ckoff longprong69

obviously her response was too detailed and too intellectual for you.

or is she really a he and an impostor and I couldn't give a bugger making an effort ?

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