Australian Politics Forum - Axing CGT concessions on the family home

lee Gold Member Offline Australian Politics Posts: 19267 Gender:	Re: Axing CGT concessions on the family home Reply #60 - Jan 14^th, 2016 at 5:30pm Lisa Jones wrote on Jan 14^th, 2016 at 5:14pm: 70???? I personally know 6 individuals who are in their 50's and who are sitting quite comfortably thanks to that exemption. 5 of them are my neighbours, the 6th is my husband lol! So they purchased the assets when 20?
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Lisa Jones

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Re: Axing CGT concessions on the family home
Reply #61 - Jan 14^th, 2016 at 5:35pm

lee wrote on Jan 14^th, 2016 at 5:30pm:

Lisa Jones wrote on Jan 14^th, 2016 at 5:14pm:

70????

I personally know 6 individuals who are in their 50's and who are sitting quite comfortably thanks to that exemption.

5 of them are my neighbours, the 6th is my husband lol!

So they purchased the assets when 20?

In their late 20's.

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lee Gold Member Offline Australian Politics Posts: 19267 Gender:	Re: Axing CGT concessions on the family home Reply #62 - Jan 14^th, 2016 at 8:09pm Lisa Jones wrote on Jan 14^th, 2016 at 5:35pm: In their late 20's. Unusual.
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longweekend58

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Re: Axing CGT concessions on the family home
Reply #63 - Jan 15^th, 2016 at 9:11am

lee wrote on Jan 14^th, 2016 at 1:26pm:

Lisa Jones wrote on Jan 13^th, 2016 at 7:56am:

If you're gonna go down the CGT path to raise revenue....how about axing the well known CGT exemption to investment properties bought before 20 September 1985.

That provision is fast approaching its use-by date.

If people were 40 when they purchased the asset, that means they are now 70.

When they die the pre-CGT status dies with them. The asset is deemed to have been acquired by the beneficiary on date of death.

CGT was fair when it was the capital gain IN EXCESS OF CPI. now it is just the gain, period. if CPI were taken into the equation it would be a lot less and a whole lot fairer.

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Lisa Jones

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Re: Axing CGT concessions on the family home
Reply #64 - Jan 15^th, 2016 at 9:13am

longweekend58 wrote on Jan 15^th, 2016 at 9:11am:

lee wrote on Jan 14^th, 2016 at 1:26pm:

Lisa Jones wrote on Jan 13^th, 2016 at 7:56am:

If you're gonna go down the CGT path to raise revenue....how about axing the well known CGT exemption to investment properties bought before 20 September 1985.

That provision is fast approaching its use-by date.

If people were 40 when they purchased the asset, that means they are now 70.

When they die the pre-CGT status dies with them. The asset is deemed to have been acquired by the beneficiary on date of death.

CGT was fair when it was the capital gain IN EXCESS OF CPI. now it is just the gain, period. if CPI were taken into the equation it would be a lot less and a whole lot fairer.

Oh. I did not know this.

Thank you for that information.

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If I let myself be bought then I am no longer free.

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Sir lastnail

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Re: Axing CGT concessions on the family home
Reply #65 - Jan 15^th, 2016 at 9:14am

Lisa Jones wrote on Jan 14^th, 2016 at 5:15pm:

Sir lastnail wrote on Jan 14^th, 2016 at 1:07pm:

Lisa Jones wrote on Jan 14^th, 2016 at 9:07am:

longweekend58 wrote on Jan 14^th, 2016 at 8:49am:

Sun Tzu wrote on Jan 13^th, 2016 at 8:47pm:

longweekend58 wrote on Jan 13^th, 2016 at 6:51pm:

where's our resident stupid greenie telling us how CGT and death taxes are the way to go?

Havn't seen him in weeks? is he in jail?

Fear not McTavish. Asbestos infested fibro shacks like yours will be exempted.

if you had half a brain you would know that 'fibro shacks' exists in VIC and NSW and some in QLD. NONE in SA.

nice person.

Yep.

In any event, who cares if it's a fibro shack?

Is that old shack on a good sized parcel of land in a good location?

IF SO, GRAB IT. FAST!

yeh sell it to a china-man.

You have to fix it up first lol Grin

No you don't. They are buying them for the land and bulldozing them down to build 3 new dog boxes.

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Lisa Jones

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Re: Axing CGT concessions on the family home
Reply #66 - Jan 15^th, 2016 at 9:16am

Sir lastnail wrote on Jan 15^th, 2016 at 9:14am:

Lisa Jones wrote on Jan 14^th, 2016 at 5:15pm:

Sir lastnail wrote on Jan 14^th, 2016 at 1:07pm:

Lisa Jones wrote on Jan 14^th, 2016 at 9:07am:

longweekend58 wrote on Jan 14^th, 2016 at 8:49am:

Sun Tzu wrote on Jan 13^th, 2016 at 8:47pm:

longweekend58 wrote on Jan 13^th, 2016 at 6:51pm:

where's our resident stupid greenie telling us how CGT and death taxes are the way to go?

Havn't seen him in weeks? is he in jail?

Fear not McTavish. Asbestos infested fibro shacks like yours will be exempted.

if you had half a brain you would know that 'fibro shacks' exists in VIC and NSW and some in QLD. NONE in SA.

nice person.

Yep.

In any event, who cares if it's a fibro shack?

Is that old shack on a good sized parcel of land in a good location?

IF SO, GRAB IT. FAST!

yeh sell it to a china-man.

You have to fix it up first lol Grin

No you don't. They are buying them for the land and bulldozing them down to build 3 new dog boxes.

Not all.

But yeah some are. It depends on the area.

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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: Axing CGT concessions on the family home Reply #67 - Jan 15^th, 2016 at 9:17am lee wrote on Jan 14^th, 2016 at 8:09pm: Lisa Jones wrote on Jan 14^th, 2016 at 5:35pm: In their late 20's. Unusual. Not at all. Why? We're STILL talking BABY BOOMERS.
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Sir lastnail

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Re: Axing CGT concessions on the family home
Reply #68 - Jan 15^th, 2016 at 9:20am

Lisa Jones wrote on Jan 15^th, 2016 at 9:16am:

Sir lastnail wrote on Jan 15^th, 2016 at 9:14am:

Lisa Jones wrote on Jan 14^th, 2016 at 5:15pm:

Sir lastnail wrote on Jan 14^th, 2016 at 1:07pm:

Lisa Jones wrote on Jan 14^th, 2016 at 9:07am:

longweekend58 wrote on Jan 14^th, 2016 at 8:49am:

Sun Tzu wrote on Jan 13^th, 2016 at 8:47pm:

longweekend58 wrote on Jan 13^th, 2016 at 6:51pm:

where's our resident stupid greenie telling us how CGT and death taxes are the way to go?

Havn't seen him in weeks? is he in jail?

Fear not McTavish. Asbestos infested fibro shacks like yours will be exempted.

if you had half a brain you would know that 'fibro shacks' exists in VIC and NSW and some in QLD. NONE in SA.

nice person.

Yep.

In any event, who cares if it's a fibro shack?

Is that old shack on a good sized parcel of land in a good location?

IF SO, GRAB IT. FAST!

yeh sell it to a china-man.

You have to fix it up first lol Grin

No you don't. They are buying them for the land and bulldozing them down to build 3 new dog boxes.

Not all.

But yeah some are. It depends on the area.

They are doing it in well to do suburbs now. We drove around Brighton last week and you wouldn't believe how many of those classic old houses had been bulldozed down ready for rebuilding. Nothing is sacred anymore. It's up for grabs from anyone. Governments and Councils love it because they are addicted to bigger revenues and taxes. More houses and the higher the price means more rates !!

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"All of the arab states have said we will have peace with Israel when there is a state of Palestine as a UN member state and properly constituted." - Jeffrey Sachs.

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Bobby. Gold Member Offline Australian Politics Posts: 112744 Melbourne Gender:	Re: Axing CGT concessions on the family home Reply #69 - Jan 15^th, 2016 at 9:22am This is what we are heading for:
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Lisa Jones

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Re: Axing CGT concessions on the family home
Reply #70 - Jan 15^th, 2016 at 9:23am

Sir lastnail wrote on Jan 15^th, 2016 at 9:20am:

Lisa Jones wrote on Jan 15^th, 2016 at 9:16am:

Sir lastnail wrote on Jan 15^th, 2016 at 9:14am:

Lisa Jones wrote on Jan 14^th, 2016 at 5:15pm:

Sir lastnail wrote on Jan 14^th, 2016 at 1:07pm:

Lisa Jones wrote on Jan 14^th, 2016 at 9:07am:

longweekend58 wrote on Jan 14^th, 2016 at 8:49am:

Sun Tzu wrote on Jan 13^th, 2016 at 8:47pm:

longweekend58 wrote on Jan 13^th, 2016 at 6:51pm:

where's our resident stupid greenie telling us how CGT and death taxes are the way to go?

Havn't seen him in weeks? is he in jail?

Fear not McTavish. Asbestos infested fibro shacks like yours will be exempted.

if you had half a brain you would know that 'fibro shacks' exists in VIC and NSW and some in QLD. NONE in SA.

nice person.

Yep.

In any event, who cares if it's a fibro shack?

Is that old shack on a good sized parcel of land in a good location?

IF SO, GRAB IT. FAST!

yeh sell it to a china-man.

You have to fix it up first lol Grin

No you don't. They are buying them for the land and bulldozing them down to build 3 new dog boxes.

Not all.

But yeah some are. It depends on the area.

They are doing it in well to do suburbs now. We drove around Brighton last week and you wouldn't believe how many of those classic old houses had been bulldozed down ready for rebuilding. Nothing is sacred anymore. It's up for grabs from anyone. Governments and Councils love it because they are addicted to bigger revenues and taxes. More houses and the higher the price means more rates !!

Ah. You're a Victorian.

Keep forgetting that.

I'm talking Sydney.

IMO.....these sorts of changes are myopic.

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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)

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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: Axing CGT concessions on the family home Reply #71 - Jan 15^th, 2016 at 9:30am Bobby, our kids and their kids deserve the best. Unfortunately, these days, the words "the best" mean a decent sized bedroom and a decent sized backyard. And, over time, even the words "decent sized" have come to mean 2 x 3 metres. It's a recipe for disaster if you ask me.
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Bobby.

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Re: Axing CGT concessions on the family home
Reply #72 - Jan 15^th, 2016 at 9:31am

Lisa Jones wrote on Jan 15^th, 2016 at 9:30am:

Bobby, our kids and their kids deserve the best.

Unfortunately, these days, that means a decent sized bedroom and a decent sized backyard.

And, over time, even the words "decent sized" have come to mean 2 x 3 metres.

It's a recipe for disaster if you ask me.

Yes Lisa - that picture is scary isn't it?

but it's where we're going.

They say that Melbourne will have 12 million people by the end of this century.

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Lisa Jones Gold Member Offline Australian Politics Posts: 39047 Sydney Gender:	Re: Axing CGT concessions on the family home Reply #73 - Jan 15^th, 2016 at 9:39am Responsible and sustainable urban development. These words mean different things to different people. And that's a problem which needs to be addressed post-haste.
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Sir lastnail

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Re: Axing CGT concessions on the family home
Reply #74 - Jan 15^th, 2016 at 9:40am

Lisa Jones wrote on Jan 15^th, 2016 at 9:30am:

Bobby, our kids and their kids deserve the best.

Unfortunately, these days, the words "the best" mean a decent sized bedroom and a decent sized backyard.

And, over time, even the words "decent sized" have come to mean 2 x 3 metres.

It's a recipe for disaster if you ask me.

They are trying to turn each australian capital city into another Hongkong and in the process ruin them in exchange for 30 pieces of silver. Ugly cheapo sh.t high rise rectangle blocks everywhere. Reminds me of my lego set when I was young.

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"All of the arab states have said we will have peace with Israel when there is a state of Palestine as a UN member state and properly constituted." - Jeffrey Sachs.

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