@OnSpeculator A vendor is prohibited from passing on land tax to the purchaser.
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Ron Saylor
2.9K posts
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@Ausproperty95 - rising rates
- oil shock
- bubble valuations in property
- rising unemployment
- largest tax increases on investors in 50 years
.... a recession is baked into the cake.
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Recessions are needed periodically to washout stupidity.
We’ve had it too good for too long.
That’s why we have nonsense problems.
RECESSION NEEDED NOW.
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@bowtiedstocks High end apartments in the Sydney Eastern suburbs and the Gold Coast will be obliterated.
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Most Aussies I don’t think were interested in entering a propadee market casino where the risks of them being financially obliterated and wiped out just from buying a home are extremely probable
But alas, unfortunately that is where things have got to for us as a nation…
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It's not an equal process," he told the Labor conference.
"Because if it's a matter of an extra $20,000 to bid or $30,000 to bid, they know that they can do that in the comfort that that will be an increase in their tax deduction."
As the crowd cheered, Mr Albanese became emotional, arguing he refused to "stand back" and blame a "broken system".
He said the decision was "not the easy thing, but it's the right thing".
"Our changes are pro-aspiration and pro-supply, so we can help people get into a home of their own," Mr Albanese said. #housing
abc.net.au/news/2026-05-2…
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@OnSpeculator seen some new builds down up to half a mill, recession territory
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Very few properties again selling this week
Stamp duty 📉
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I was on a panel with Peter Costello and a few others at the ASPIRE conference.
Check it out
youtu.be/XivvzduatdU?si…
YouTube
ASPIRE Conference@ASPIRE_CONF
“If there is a crisis today, we’ve had a housing crisis for the last two hundred years.” (@DrCameronMurray) In a controversial and wide-ranging panel discussion at ASPIRE 2026, chaired by @CISOZ Executive Director Michael Stutchbury, housing economist Cameron Murray challenged the idea that Australia is facing an unprecedented housing crisis. He argued that the market has experienced cycles since the early nineteenth century — insisting that it will ultimately self-correct. CIS Senior Fellow @parnellpalme pushed back, suggesting that red tape was resulting in a “housing crisis of the place that you want to live”. “Our cities are becoming cities of old people, where young people can’t get a toehold.” Former Treasurer Peter Costello suggested that housing prices have been affected by what he called “abnormally high immigration” over the last three years. However, he said the other factor affecting the housing situation was “cheap money”, which has driven up asset prices. The robust and constructive discussion offered thought-provoking insights into #productivity, #economic growth, #immigration, #housing, and #family formation — challenging conventional wisdom on a range of key #policy issues. @JohnAndersonAC
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If a country hasn’t had a recession for a very long time do you think this would make its next recession mild or quite severe ?
And if the households in that country were very highly leveraged, do you think this exacerbates the severity ?
And if you’ve got GC propadee developers telling us the price they pay for a block of land doesn’t matter, do you think we might be close to that recession tipping point ?
And if you then add a very high taxing redistribution focused government on top of that, how do you think that helps things ?
This is all very elementary, self evident and common sense stuff in my view
If you think things aren’t great don’t worry, they get worse
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@tax_oz The work around for the minimum 30% tax rate on trusts is for each of the desired beneficiaries set up an ABN as a sole trader and invoice the trust for services, so they are charged at their marginal tax rate. A bucket company could do the same.
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@DrCameronMurray @LJensen41642 If the distributions were never going to be taxed in the first place, why punish families for implementing these structures, which are usually implemented for asset protection rather than tax avoidance (such as divorce by one of the kids spouses).
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@RonSaylor23 @LJensen41642 This document says about the new minimum tax that "income from assets of testamentary trusts existing at announcement will also be excluded."
So won't this change just lead to less use of these trusts?
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The minimum tax rate on trusts proposed in the budget seems reasonable to me.
What do others think?
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@DrCameronMurray @LJensen41642 It is pretty simple, if the parent dies and there is no discretionary testamentary trust in place, it gets distributed to the kids directly and is untaxed. If a testamentary trust has been set up, it is now taxed at 30%.
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@LJensen41642 Can you explain more why you think this is a death tax?
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@bowtiedstocks Panicking early would have been selling 3 months ago once rates started to rise again.
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I didn’t think it was going to be good, and it certainly wasn’t
My advice once more - if you need to panic and sell, panic early!!
Godspeed
Tarric Brooker aka Avid Commentator 🇦🇺@AvidCommentator
Auction results - Sold To Listed - Sydney 28.0% (30.4% last weekend) - Melbourne 38.2% (36.4%) Sydney absolutely smashed to its lowest result since my records began in 2018 (ex-public holidays and Christmas season). Melbourne actually saw a bounce vs last week, but still in major price fall territory. Sydney saw a quite absurd 44.9% of auctions unreported this week. Last week this did play a role in boosting the extremely poor initial result, as indicated by the more complete SQM Research figures. (SQM's figures saw the worst non-public holiday and Xmas season impacted result since the initial shock in the early weeks of the pandemic) That may be the case again this week with such a huge number missing in action. Overall both markets remain profoundly weak and highly vulnerable to a further reduction in demand stemming from the changes to the federal budget. #AvidAuctions
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@TMFScottP @betterfuture73 People coming in on parents visas are not paying taxes.
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'Remove Labour's handouts for non-citizens'.
I'm going to go out on a limb and say the motivation for this policy isn't economic.
#BudgetReply2026
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@bowtiedstocks They didn’t mention shares. Was all hooms. Shows the obsession.
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This is the craziest budget speech I’ve ever witnessed
I didn’t think they would actually follow through on all of this
Significant additional taxes on risk capital going forward
This will have the opposite effect of their purported intention of reducing the intergenerational wealth divide
Chalmers is outright dangerous, like a madman
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Mob of aboriginals loot and destroy a Shell service station during rioting in Alice Springs.
Follow: @NoticerNews
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@AvidCommentator He doesn’t care about social cohesion when it comes to immigration policy.
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'Anthony Albanese claims social cohesion at stake ahead of negative gearing and capital gains tax changes' share.google/asbbAy7EYNlpoX…
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If the government is going to change CGT - and it should - indexation is the only sensible choice.
It's not 'scrapping the discount', though - it's replacing it with indexation.
And why sensible? Because inflation shouldn't be taxed *and* the discount has no basis in policy.
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