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  1. #111
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    Quote Originally Posted by Elijahs Mum View Post
    Very hard to get land suitable for subdivision - the council regulations are pretty tough and you need big blocks - we sold a suitable block literally on Saturday at auction for $1,410,000 ( old fibro house on 900m2) they can build an attached duplex on it - we used to sell the same thing 5 years ago for $800,000 so it's pretty much doubled as there is no big blocks left and a huge demand

    You can buy an older 60,s or 70,s original brick house for about $1.1 to renovate but you would need to spend probably $150 k on it and yes you would sell it for maybe $1.4 ish but when you add in holding costs , stamp duty and tax there's no money in it
    Wow! Subdivision and renos in the Adelaide market are far more reasonably priced. Local councils have relaxed their subdivision runs in areas close to major transport routes to encourage more medium -high density housing in one with the SA government 30 year strategic plan.

    Something like this can be subdivided and a decent profit ($100k per dwelling) made: http://www.realestate.com.au/propert...pton-120845917

  2. #112
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    Quote Originally Posted by Elijahs Mum View Post
    This is why there is a rental shortage in most parts of sydney as the rent returns are just not keeping up with the capital growth , no normal investor can afford a million dollar mortgage and only get $548 a week in rent - even with negative gearing you need to have the extra $1000 a week net wages to cover the mortgage and expenses after rent
    Totally agree!

  3. #113
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    Quote Originally Posted by A-Squared View Post
    So many people say this and that's meant to be an understandable position, but yet as soon as someone says that about people on welfare they're criticised.

    I don't believe either is a bad thing. I agree with welfare and NG and CGT, but the it's not fair on non-investors argument isn't overly valid IMO.
    I believe it's quite different.

    We could subsidise investment in other areas like shares to boost the economy - yet we don't.
    My opinion is that if you have the means to invest you don't need a subsidy to counter act losses made in real estate.

    Unless those losses help the community because you are investing in new dwellings in an area where more stock is needed.
    Then it's a win win for all involved.

    The way negative gearing works now is counterproductive IMO.

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  5. #114
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    Quote Originally Posted by ExcuseMyFrench View Post
    I believe it's quite different.

    We could subsidise investment in other areas like shares to boost the economy - yet we don't.
    My opinion is that if you have the means to invest you don't need a subsidy to counter act losses made in real estate.

    Unless those losses help the community because you are investing in new dwellings in an area where more stock is needed.
    Then it's a win win for all involved.

    The way negative gearing works now is counterproductive IMO.
    capital gains from the sales of shares qualify for the cgt discount too so you could say they're subsidized to a degree. also, any interest on funds borrowed to purchase shares (eg a margin loan) is also deductible. so shares can be negatively geared as well.

  6. #115
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    Quote Originally Posted by turquoisecoast View Post
    capital gains from the sales of shares qualify for the cgt discount too so you could say they're subsidized to a degree. also, any interest on funds borrowed to purchase shares (eg a margin loan) is also deductible. so shares can be negatively geared as well.
    Don't get me started on all the ridiculous CGT discounts available, it's a joke!!

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    Default Negative Gearing - Politics talk

    Quote Originally Posted by ExcuseMyFrench View Post
    Don't get me started on all the ridiculous CGT discounts available, it's a joke!!
    Don't get me started on capital gains! Haha 😜

    Why do you think it's a joke?

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    I'm feeling so thankful living in the country now reading all this. No wonder couples are working themselves to death just to pay the mortgage

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    Quote Originally Posted by delirium View Post
    I'm feeling so thankful living in the country now reading all this. No wonder couples are working themselves to death just to pay the mortgage
    I see where you're coming from with this sentiment but I also think people these days have a tendency to over extend themselves. a girlfriend of mine was so desperate to buy a place with her partner (quite new partner I might add) as she feels like she "should have their own home by this age" (35) that they used her mum as guarantor. unfortunately her mum's financial position is not great and she barely had the equity in her own house required as security for the purchase that they ended up borrowing another $30k from his dad. his dad drew down on an overdraft facility to give them the money though. she also owes her stepmum $8k for a car she bought her ex out of.

    she has also spent craploads on store credit cards decorating the place because of course she can't live in anything less than a show home.

    she's just found out she's lost her job so the stress on them must be enormous.

    I don't know why people assume such silly levels of risk. why not just buy something affordable and that you've saved up for and enjoy it stress free. yes it mightn't be your forever house but it's a foot on the ladder and you can build from there.

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  11. #119
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    Quote Originally Posted by ExcuseMyFrench View Post
    Don't get me started on all the ridiculous CGT discounts available, it's a joke!!
    the 50% general cgt discount applies to all asset classes, not just shares or real estate etc. you need to have held the asset for in excess of 12 months in order to qualify too.

    I don't have an issue with the cgt discount, I think it's a good way to encourage investment across the board as everyone is able to access it. so a student who sells a parcel of shares for $5k which they bought for $3k would be able to reduce the cgt from $2k to $1k. what's wrong with that? not like you have to be mega rich to access this concession?

    neg gearing I believe should be capped at 1 investment property, on a first in first served basis (so it's the first place you bought, you can't pick and choose which property you apply it to otherwise that would be unfair). after that, all investment properties must be positively geared. it shouldn't be allowed to apply retrospectively either, I think it should apply to new purchases only from a certain date.

  12. #120
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    Quote Originally Posted by A-Squared View Post
    Don't get me started on capital gains! Haha 😜

    Why do you think it's a joke?
    Because the way capital is taxed (vs work) increases the level of wealth concentration within our society.


 

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