Australian Politics Forum - If they are hell bent on keeping negative gearing.

freediver

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Re: If they are hell bent on keeping negative gearing.
Reply #210 - Jun 30^th, 2023 at 6:04pm

Grappler Racist Filth wrote on Jun 30^th, 2023 at 5:49pm:

freediver wrote on Jun 30^th, 2023 at 5:46pm:

Quote:

stamp out investors clawing the guts out of the available properties

So your plan is to make rentals scarce and unaffordable?

Won't happen - only difference is the buyer market.

So your plan is to discourage people from buying investment properties and renting them out, but you think this won't make rental properties harder to come buy?

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People who can't distinguish between etymology and entomology bug me in ways I cannot put into words.

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Jovial Monk Gold Member Offline Dogs not cats! Posts: 51474 Gender:	Re: If they are hell bent on keeping negative gearing. Reply #211 - Jun 30^th, 2023 at 6:32pm Maybe some of us, not you evidently, would like a marketplace where homebuyers and those looking to reduce taxable income compete in an equal market place? Not an unequal one where investors are subsidised and homebuyers aren’t? Are you for free markets FD? Are cats critters FD?
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Lisa Jones

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Re: If they are hell bent on keeping negative gearing.
Reply #212 - Jun 30^th, 2023 at 6:37pm

freediver wrote on Jun 30^th, 2023 at 6:04pm:

Grappler Racist Filth wrote on Jun 30^th, 2023 at 5:49pm:

freediver wrote on Jun 30^th, 2023 at 5:46pm:

Quote:

stamp out investors clawing the guts out of the available properties

So your plan is to make rentals scarce and unaffordable?

Won't happen - only difference is the buyer market.

So your plan is to discourage people from buying investment properties and renting them out, but you think this won't make rental properties harder to come buy?

And more expensive... Roll Eyes

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

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Grappler Racist Filth

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Re: If they are hell bent on keeping negative gearing.
Reply #213 - Jun 30^th, 2023 at 6:38pm

freediver wrote on Jun 30^th, 2023 at 6:04pm:

Grappler Racist Filth wrote on Jun 30^th, 2023 at 5:49pm:

freediver wrote on Jun 30^th, 2023 at 5:46pm:

Quote:

stamp out investors clawing the guts out of the available properties

So your plan is to make rentals scarce and unaffordable?

Won't happen - only difference is the buyer market.

So your plan is to discourage people from buying investment properties and renting them out, but you think this won't make rental properties harder to come buy?

... only because they will be replaced by owned properties....... and the rental crisis will ease and more families will be in their own homes, and the incentive on the banks to continually raise porices via their loaning processes will be lowered....

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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Lisa Jones

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Re: If they are hell bent on keeping negative gearing.
Reply #214 - Jun 30^th, 2023 at 6:44pm

Grappler Racist Filth wrote on Jun 30^th, 2023 at 6:38pm:

freediver wrote on Jun 30^th, 2023 at 6:04pm:

Grappler Racist Filth wrote on Jun 30^th, 2023 at 5:49pm:

freediver wrote on Jun 30^th, 2023 at 5:46pm:

Quote:

stamp out investors clawing the guts out of the available properties

So your plan is to make rentals scarce and unaffordable?

Won't happen - only difference is the buyer market.

So your plan is to discourage people from buying investment properties and renting them out, but you think this won't make rental properties harder to come buy?

... only because they will be replaced by owned properties....... and the rental crisis will ease and more families will be in their own homes, and the incentive on the banks to continually raise porices via their loaning processes will be lowered....

Grappler YOU ARE DREAMING!

You need to attend a few auctions to see wtf is going on. We attended 3 auctions recently. ALL 3 properties sold to Chinese people who needed interpreters in order to understand wtf was being told to them.

Aussies can’t get a look in. Fact! Why? Money laundering is back on with a vengeance! That is why property prices in Sydney are still high. Note : I’m talking about Sydney proper (not the bogan outer west regions because the Chinese know not to touch those useless non performing areas).

Ya dig?

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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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freediver

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Re: If they are hell bent on keeping negative gearing.
Reply #215 - Jun 30^th, 2023 at 6:56pm

Grappler Racist Filth wrote on Jun 30^th, 2023 at 6:38pm:

freediver wrote on Jun 30^th, 2023 at 6:04pm:

Grappler Racist Filth wrote on Jun 30^th, 2023 at 5:49pm:

freediver wrote on Jun 30^th, 2023 at 5:46pm:

Quote:

stamp out investors clawing the guts out of the available properties

So your plan is to make rentals scarce and unaffordable?

Won't happen - only difference is the buyer market.

So your plan is to discourage people from buying investment properties and renting them out, but you think this won't make rental properties harder to come buy?

... only because they will be replaced by owned properties....... and the rental crisis will ease and more families will be in their own homes, and the incentive on the banks to continually raise porices via their loaning processes will be lowered....

How will reducing the number of available rental properties ease the rental crisis? Are the people who cannot avoid to pay the rent because of this idiotic policy just going to magically come by the money to buy a house?

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People who can't distinguish between etymology and entomology bug me in ways I cannot put into words.

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Jovial Monk Gold Member Offline Dogs not cats! Posts: 51474 Gender:	Re: If they are hell bent on keeping negative gearing. Reply #216 - Jun 30^th, 2023 at 7:37pm Oh come on, renters will become homeowners! All this HUGE subsidy to investors in existing housing does not create a single new dwelling!
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JC Denton

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Re: If they are hell bent on keeping negative gearing.
Reply #217 - Jun 30^th, 2023 at 8:26pm

if you wanted to actually solve housing issues in australia, massively cutting migration is the most obvious thing to do. the reason the government doesnt do this is because they don't want to solve the issue, because to them it's not an issue. cashed up boomers benefit from high land prices because they are home owners and landlords.

my rent was static during the covid era but exploded afterwards due to the govt ratcheting immigration levels to 400, 000 a year. giving a sh1t about negative gearing is fiddling around the edges, it's minor compared to available rental and housing supply being utterly swamped by unprecedented artifical population growth.

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« Last Edit: Jun 30^th, 2023 at 8:31pm by JC Denton »

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freediver

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Re: If they are hell bent on keeping negative gearing.
Reply #218 - Jun 30^th, 2023 at 8:36pm

Jovial Monk wrote on Jun 30^th, 2023 at 7:37pm:

Oh come on, renters will become homeowners!

All this HUGE subsidy to investors in existing housing does not create a single new dwelling!

Do you think it is a good idea for the tax department to send people bankrupt by giving them a huge tax bill in a year in which they actually lose money?

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People who can't distinguish between etymology and entomology bug me in ways I cannot put into words.

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Bam

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Re: If they are hell bent on keeping negative gearing.
Reply #219 - Jun 30^th, 2023 at 8:54pm

freediver wrote on Jun 29^th, 2023 at 7:57pm:

Bam wrote on Jun 29^th, 2023 at 6:43pm:

Why should taxpayers subsidise other people's get rich schemes?

It's not a subsidy ...

You're not considering the capital gains discount.

Claiming negative gearing losses at FULL value, capital gains taxed at HALF value (after 12 months, with no activity test). If that's not a subsidy paid for by other taxpayers, what is it?

Negative gearing on its own isn't particularly problematic. Its the interaction of negative gearing with an excessively generous capital gains tax discount that's the real problem.

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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JC Denton

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Re: If they are hell bent on keeping negative gearing.
Reply #220 - Jul 1^st, 2023 at 6:35am

no its rental supply being squeezed to the tune of 400,000 new incumbents a year, you would have to f*king insane to ignore that

austalia's unaffordable rental and land markets are a feature, not a bug, of the people who have engineered them. the government doesn't want to help renters and doesn't want land to be cheaper, because their primary constituents, donors, and the individuals within the government themselves (who generally own sizable property portfolios) don't want it as it would come at the expense of their own net worth and profits. they are making no sincere effort to address the massive disparities between demand and supply that are at the heart of australia's so called housing 'crisis', even though they could fix it with the stroke of a pen (through material and permanent migration cuts), in the medium to long term, if they really cared.

this thread is a microcosm of the inanity of australian political discourse; hammer on autistically about some single factor issue while being painfully unaware of the bigger picture.

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« Last Edit: Jul 1^st, 2023 at 7:02am by JC Denton »

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freediver Gold Member Offline www.ozpolitic.com Posts: 53405 At my desk.	Re: If they are hell bent on keeping negative gearing. Reply #221 - Jul 1^st, 2023 at 8:10am Quote: You're not considering the capital gains discount. That is not negative gearing, nor does it make negative gearing a subsidy.
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Lisa Jones

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Re: If they are hell bent on keeping negative gearing.
Reply #222 - Jul 1^st, 2023 at 8:19am

JC Denton wrote on Jun 30^th, 2023 at 8:26pm:

if you wanted to actually solve housing issues in australia, massively cutting migration is the most obvious thing to do. the reason the government doesnt do this is because they don't want to solve the issue, because to them it's not an issue. cashed up boomers benefit from high land prices because they are home owners and landlords.

my rent was static during the covid era but exploded afterwards due to the govt ratcheting immigration levels to 400, 000 a year. giving a sh1t about negative gearing is fiddling around the edges, it's minor compared to available rental and housing supply being utterly swamped by unprecedented artifical population growth.

👆 Legend!

The only thing he didn’t mention was that those coming through the doors were Asians (mainly Chinese) and make no mistake THEY ARE LAUNDERING CCP BACKED MONEY AND BUYING UP WHATEVER REAL ESTATE IS LEFT. THAT’S WHY AUCTION RESULTS/REAL ESTATE PRICES IN SYDNEY ARE ESCALATING AS I TYPE!

We who are Australian turn up to auctions and it’s like fighting on some bizarre frontline AGAIN - a frontline to keep real estate in Australian hands.

THE LABOR FEDERAL GOVT DITHERS!

It must cut back on immigration.

Edit : The ONLY way for our Aussie born n bred kids to tap into the real estate market (ie the real estate which these Asian money launderers want) is this : for our kids to buy in/come in as landlords backed by mum n dad bank PLUS rental income. Otherwise they can’t get a loan AS OWNER OCCUPIERS. There’s just no other way now BECAUSE of the Asians mainly Chinese coming through our airports with CCP money that needs to be laundered. Australia is a joke in China right now as I type. It the the preferred international destination for effortless and successful money laundering operations.

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« Last Edit: Jul 1^st, 2023 at 8:29am by Lisa Jones »

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

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

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JC Denton

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Re: If they are hell bent on keeping negative gearing.
Reply #223 - Jul 1^st, 2023 at 8:26am

yes, the utter non-enforcement re: foreign buyers is another issue, the government will do nothing about that as well. anything that upsets the land market racket will never be seriously addressed in any significant way. whatever solutions that are floated will inevitably only increase land prices, such as first home buyer grants which are a clandestine method to decrease affordability through the subsidiation of demand. it's all by design; the government doesn't want land to be affordable, bc it ostensibly 'benefits' in a grotesque, short-term and avaricious sense boomers, their property developer donor mates, and themselves.

in reality inflated land markets have a strangulating effect on economies, deleteriously impact firm entry, ruin businesses and misdirect investment flows into an ultimately unproductive sector. land is a fundamental economic input and for the sake of productivity you want it to be as inexpensive as possible.

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freediver Gold Member Offline www.ozpolitic.com Posts: 53405 At my desk.	Re: If they are hell bent on keeping negative gearing. Reply #224 - Jul 1^st, 2023 at 8:38am I appreciate all your efforts to change the subject, but none of the critics of negative gearing is brave enough to say whether they think it is a good idea for the tax department to send people bankrupt by giving them a huge tax bill in a year in which they actually lose money. Why is that?
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