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  1. #151
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    Default Housing / negative gearing / politicians

    As far as I'm aware, Labor's policy on negative gearing will be grandfathered. All those investors out there who currently own multiple properties need not worry. I guess the coalition won't advertise that

  2. #152
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    Default Housing / negative gearing / politicians

    Quote Originally Posted by BigRedV View Post
    As far as I'm aware, Labor's policy on negative gearing will be grandfathered. All those investors out there who currently own multiple properties need not worry. I guess the coalition won't advertise that
    I guess if it doesn't teach the reserve I can guess we can re-auction a few week later. Kind of in a pickle as we brought a new house already (real estate no-no but had to move out of our rental)!

    Edit: sorry quoted the wrong post
    Last edited by babyno1onboard; 13-05-2016 at 08:08.

  3. #153
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    Quote Originally Posted by babyno1onboard View Post
    Making interest on mortgages for owner occupiers tax deductible will benefit high income earners more than lower income earners. I think it will just make the rich richer and the poor poorer as the saying goes.

    Making properties only available to owner occupiers for the first month will just mean that sellers won't accept any offers until that month has passed.
    NG also benefits high income earners the most. I know the second idea couldn't work unless another body decided on a fair price - which I know would never happen. I just feel the odds are stacked against first time buyers

  4. #154
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    Quote Originally Posted by Freyamum View Post
    NG also benefits high income earners the most. I know the second idea couldn't work unless another body decided on a fair price - which I know would never happen. I just feel the odds are stacked against first time buyers
    The odds are stacked against them

    But for example a wealthy person paying $1000 a week mortgage and paying a marginal tax rate of 48% would get $480 back each week. A 'poorer' person paying $300 a week mortgage and paying a marginal tax rate of 20% would get back $60.

  5. #155
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    Quote Originally Posted by Rose&Aurelia&Hannah View Post
    Correct me if I'm wrong but isn't the point of a capitalist society to have less govt interference? I understand more socialist/communist societies are regulated more by the govt.

    How do investors have an advantage over potential buyers? Or did you mean owner occupiers?

    Tbh I don't like it when the govt interferes with anything.


    ETA- you'd support NG on new builds? How about for those owner occupier that then rent their property out 2-20yrs later? From memory FHO were exempt from SD if they lived in their property for a year. Failure to do so and you had to pay the money. So the govt is/was helping FHO to buy a house. Actually it was the govt 'helping' with that idiotic FHOG that lead house prices to sky rocket. One could argue that govt helping actually made it worse.
    Without any interference from government there would be no unemployed / disability benefits yada yada. Looking after all your citizens isn't a communist idea! Everyone needs a place to live, it's a basic human need. Kids learn this in kindy. Owning isn't, but I don't think the government should be ignoring the fact some of their policies are making it harder for first time buyers. How is NG not govt involvement anyway?? I agree the FHOG contributed to the crazy house prices we have now. However, I don't think that means govt can just look the other way and say tough **** to those being priced out of the market, they have a responsibility to be looking at ways of improving the situation.

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  7. #156
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    Quote Originally Posted by BH-KatiesMum View Post
    and to be totally honest - negative gearing on new homes is much more prevalent.

    One of the major factors in negative gearing is the depreciation allowed - which tends to be substantially more on new properties. So cutting out negative gearing discounts for existing properties but leaving them for new properties wont actually make a huge gain for the government.
    Then making it just for new builds shouldn't be such an issue??

  8. #157
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    Quote Originally Posted by Freyamum View Post
    Then making it just for new builds shouldn't be such an issue??
    But it wouldn't save the govt much money.

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    Quote Originally Posted by babyno1onboard View Post
    Ahhhh the election. My house goes for auction a couple of weeks beforehand. Darn it. I hope that won't scare of buyers
    It won't - they never do so don't worry, we are actually busier now since the interest rate cut

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  11. #159
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    Quote Originally Posted by Rose&Aurelia&Hannah View Post
    But it wouldn't save the govt much money.
    Labor aren't just suggesting changes to NG to save money. The idea is that a lot of people feel that NG has contributed to the current housing affordability crisis. Contributed to, not caused.

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    Quote Originally Posted by Rose&Aurelia&Hannah View Post
    But it wouldn't save the govt much money.
    But it would win the government votes because they wouldn't disclose the minor shift in tax


 

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