Bert

121 posts

Bert

Bert

@rigerby

I post here to reduce stress. Not to be taken that serious.

Australia Katılım Nisan 2009
914 Takip Edilen188 Takipçiler
Bert
Bert@rigerby·
@OMGTheMess You’re probably not one for recommendations from randoms on the internet, but here goes. Look into a MACE session. Changed my life in a single 2 hour session, it’s a bit like a guided meditation that takes away the built up pressures.
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Old Soldier
Old Soldier@OMGTheMess·
My mental health has hit a level where I need to step away from family to keep everyone safe. No long-term veteran crisis accommodation available in Australia, can’t afford separate housing, so I’m going overseas. Take care.
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Bert
Bert@rigerby·
@SimonCotter62 Did you ever play pass the parcel when you were young? It’s kinda like that in a way, with less buyers using negative gearing it means lower prices and less demand.
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Simon Cotter
Simon Cotter@SimonCotter62·
Young first home buyers can no longer negative gear. But those if us who do can continue. Please tell me how the govt is assisting first home buyers
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Bert
Bert@rigerby·
@tompanos What stage of grief is this stage?
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TOM PANOS
TOM PANOS@tompanos·
The budget may have triggered the opposite effect the government wanted. Investors are holding properties tighter to protect grandfathered benefits, while many landlords are increasing rents to protect cash flow. #propertymarket #australianproperty
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Bert
Bert@rigerby·
@jason_king72 @Potstirrer111 Ohh and the best part of all, the landlords expenses are not considered a factor when NCAT weigh the evidence for a rental increase.
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Bert
Bert@rigerby·
@jason_king72 @Potstirrer111 Nope, same in NSW and best of all rental increase needs to be agreed to by the current tenants, if not can be taken to ncat where landlord needs to provide proof the rental increases are at current market rates.
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Sparky777
Sparky777@Potstirrer111·
Hi, the current laws won’t let me kick out the tenants and jack up rents, please advise me how I can illegally get around this. Burn the landlords to the ground.
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Bert
Bert@rigerby·
@opieaccount4 @Potstirrer111 Imagine thinking this was only in Canberra propadee barons are just starting to realise the rental laws have changed
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Bert
Bert@rigerby·
@cosmicjester Streisand effect in full force, PAYG's are only just realising the world of trusts exists and I dont think it will end too well when they start to really understand the tax avoidance schemes that have been adopted by the grey haired folk.
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cosmic jester
cosmic jester@cosmicjester·
The opponents of these tax changes really do themselves no favours. What tax payer that pays the majority of their taxes through payg has sympathy for this?
Noel Whittaker@NoelWhittaker

I'm running numbers on family trusts. If the trust owned by mum, dad, and 19-year-old daughter earns $180,000 a year and they distribute $60,000 to each the tax will be three times $9,000 = $27000. At 30% flat, it's $54,000. That's double - The only way out is to change distributions to wages, but they must be able to justify the wage. It's a shameful attack on business

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Bert
Bert@rigerby·
@Potstirrer111 @DrDemography 20% is a huge number for international students alone, factor in the other form of temporary visas and wowsers, a reduction in these numbers would fundamentally change the propadee market in Sydney and Melbourne.
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Sparky777
Sparky777@Potstirrer111·
@DrDemography How can you say that 20% of the private rental market in inner Sydney is minimal? Rents fall at 3% vacancy rate. What do you think happens at 20% vacancy rate Liz? How can I be more educated on this than you when this is what you studied for years.
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Dr Liz Allen
Dr Liz Allen@DrDemography·
Net overseas migration (NOM) and the migration program are very different things. NOM is flows of people & used in population counts, it includes Australians, NZers, temporary, permanent, others. Migration program reflects number of permanent intake. theconversation.com/factcheck-is-a…
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Bert
Bert@rigerby·
@NoelWhittaker @BibasKfir Boo hoo grandpa. The rest of us out here in the real world have had to pay tax at this rate and at times well above. You’re bit getting any sympathy here, you’re actually reinforcing the boomer stereotypes that we are rallying against.
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Noel Whittaker
Noel Whittaker@NoelWhittaker·
I'm running numbers on family trusts. If the trust owned by mum, dad, and 19-year-old daughter earns $180,000 a year and they distribute $60,000 to each the tax will be three times $9,000 = $27000. At 30% flat, it's $54,000. That's double - The only way out is to change distributions to wages, but they must be able to justify the wage. It's a shameful attack on business
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Trent Saunders
Trent Saunders@trent_saunders_·
We expect house prices to eventually settle around 3% lower than otherwise due to the changes to negative gearing and CGT. But sentiment is a key near term risk. Our note on the housing policy changes in last night's budget is here: commbankresearch.com.au/apex/researcha…
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Bert
Bert@rigerby·
@yolaplace @wheelreinvent When you're an addict you'll do anything to get your fix, in this case the addiction is "paper gains" and the fix must be had. It doest make sense to me either, ploughing all your spare cash into a PPOR does what exactly?
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Laplace’s Demon
Laplace’s Demon@yolaplace·
@wheelreinvent I don't understand the ploughing more cash into the primary residence thing. Whats the strategy here?
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Wheel reinventor
Wheel reinventor@wheelreinvent·
Haven't deep-dived into the CGT changes but it seems like the incentives are now even higher to cram as much cash as possible into super and primary residence. I'm all for raising taxes overall, but doing so while these two massive loopholes exist is gonna have bad effects.
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Bert
Bert@rigerby·
@michaelsnape @RepulicBanana 😂now you are really grasping at straws.. You have what they dont have, youth.. Use it wisely and stop with the melodrama. The rules have changed, find a new way to work with them.
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Interested Onlooker
Interested Onlooker@michaelsnape·
@RepulicBanana George and Margaret received free tertiary education and also receive a Commonwealth Seniors health care card which entitles them to free health care plus heavily subsidised scripts
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Interested Onlooker
Interested Onlooker@michaelsnape·
Jenny and Matt 35/36 who build a software startup in their garage, have global customers and sell it for $10m, pay $4.7million in tax George and Margaret 73/74 own a $5million home in Mosman, have $4.4 million in super and pay $0 tax on earnings, $0 CGT and $0 on their pensions
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Bert
Bert@rigerby·
I’m not understanding how the argument of PPOR to the moon actually plays out, the banks won’t be lending above your ability to service the loan which in the past is what negative gearing allowed for. Also the “paper” leverage gains across multiple properties is no longer on the table. It just doesn’t make sense that PPOR to the moon is coming, if anything I see the opposite. Mortgages are now limited to your ability to service the loan from your earned income.
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Peasant
Peasant@asxpeasant·
All you muppets who wanted this thinking house prices are going to crash so NOW you can FINALLY buy a big mansion in the eastern suburbs, you are out of your mind. There’s about 70,000 dwellings in the east and about 1-2 million of you peanuts competing for it. Unless you think your new “tax exemption” is going to be SO FAIR that it will close a multi million dollar gap that about 99% of the population who actually own in the east have ahead of you, then you’re dreaming. It’s a stupid reason to be for all this rubbish tax reform. You aren’t going to win, and in fact it will now get worse. House prices at the top end will go EVEN HIGHER, because guess what tax you pay on your PRIMARY residence worth $25m that has just risen to $50m? $0 Many wealthy folks I know are now looking at consolidating tier 2 and 3 assets into high end homes in premium areas- pushing demand even MORE. With new rules, comes a new game. This is absolutely garbage tax reform and anyone who thinks they’ve made a win are already unemployed and leeching from the government. For every single person who has, or relies, on their own or family members income, you’ve all just been dragged into a shittier quality of life. closer to the bottom of the pit with the unemployed government leeches. Better home? Fucken forget it - you’ll be lucky to hold onto what you’ve got with this dumpster fire of a budget.
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Bert
Bert@rigerby·
Doesn’t it? Let’s use three houses as an example. In the past we have three investors and one first home buyer trying to buy the same place at auction. What happens to the price during auction? The investors are able to bid above the budgets of the first home buyer due to negative gearing. With the updated rules we now have three houses for sale and one new first home buyer picking the best house out of all three to buy and no investor to drive up the price. It’s win win for the first home buyer
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Skull
Skull@SkullSpeedDeal·
@Potstirrer111 That doesnt help young people get in though, the ladder is still being pulled up.
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Sparky777
Sparky777@Potstirrer111·
On a lighter note it’s absolutely glorious seeing property investors going through their 5 stages of grief realising their golden goose is cooked.
Sparky777 tweet mediaSparky777 tweet media
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Bert
Bert@rigerby·
@john_macgowan This budget will finally seperate the builders from the takers, the productive from the unproductive.
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John Macgowan
John Macgowan@john_macgowan·
Seeing a lot of blackpilling on the timeline and guys talking about leaving the country because of the tax changes. This is the dumbest time to leave the country if you're an entrepreneur. The last 100 years of decadent Western liberal history is full of stories identical to ours. Left leaning Government gets fat, lazy and slow and experiments with wealth transfer, cripplingly high taxes and reliance on the public sector for growth. It never lasts, firstly. But secondly, and importantly - fat, lazy and slow governments are extremely vulnerable to exploitation by lean and fast capital. And that was pre AI. Today, overheads are low, labour expenses are non existent, and the Government is going to be spending so much time and effort taxing legacy asset classes and playing whack a mole with loop holes that new, unquantified asset classes will fly under the radar. For now, the only tax on AI is energy prices. And there's mitigation for that. California is widely regarded as the worst State in the US to do business - and yet 1/3 of all US venture capital flows in to it. And a big part of that, is that for the last 70 years Silicon Valley builds products that legislators don't understand, and thus struggle to tax. This Budget could be the best thing that ever happened to Australia. Because for too long, Australian capital has flowed into legacy asset classes that while regionally lucrative are going to be increasingly irrelevant in the future. This could be what finally makes Australian business start thinking outside the box, and makes them finally see Government as an obstacle to be avoided instead of a teat to be milked for regulatory benefit. Sell your neg geared property, dump your ETFs, and go buy RAM and batteries.
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Bert
Bert@rigerby·
@RenShen888 @TheKouk There are a few in Sydney and Brisbane that I work with, really innovative stuff coming out of the CSIRO as well who are partnering with private industry.
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Ren-Shen
Ren-Shen@RenShen888·
@TheKouk I don't see any companies like that setting up shop in Australia. They aren't as stupid as some Labor grifter like you. If they did, they would be paying licensing fees to overseas companies to get the money out of this un-investable country.
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Stephen Koukoulas
Stephen Koukoulas@TheKouk·
I've got this great but, as yet, untested idea to set up a company to make cheap autonomous vehicles. I wonder what tax rate I will pay when I sell it? (says no one)
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Bert
Bert@rigerby·
@bcg1976 @agroasx @Mikeuuqh Build them a nice new house to live you muppet, seeing as you believe you’re doing such a stand up role for the community you shouldn’t mind building a new place at all.
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Not for you
Not for you@bcg1976·
@agroasx @Mikeuuqh Well, as mentioned, I'm not recieving any benefits, nor have I previously. I have around $700k in capital housing two young people in their 20s. So I'll boot them out to just build the same house a suburb over?
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AGRO
AGRO@agroasx·
It is obscene to tax a nurse's labor at 100% while giving a property hoarder a 50% CGT discount just for sitting on a weatherboard. If your "wealth" depends on taxpayer-funded negative gearing to outbid families, you’re not an investor—you’re a beneficiary. #Budget2026 #auspol
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Bert
Bert@rigerby·
@pauliec80859931 Do you know the value of that 1960s 2 bedroom apartment now? how does it compare to current wages?
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PaulieC
PaulieC@pauliec80859931·
Apparently, my cohort are depriving young Australians of opportunities we supposedly had while we also bathed in Dom Perignon champagne. Did you know I lived through 2 severe economic recessions: 1982/83 recession: Unemployment hit a record 10.5% & was still around 8.5% in 1987 1990/91 recession - The recession we had to have which resulted in a peak jobless rate of almost 11% in 1991 & was still close to 9% in 1995. I also paid peak mortgage interest rates of 17.5%. Baked beans never tasted so good & that little 12 inch TV served me well for years. Oh, did I mention my first property was a 1960's 2 bedroom apartment of approximately 60m2 (just under 7 squares). Yep, I haven't forgotten those years. I also haven't forgotten getting up as a 12 year old at 4am Saturday mornings to help the family fruit & veggie business at the Vic Queen Market. Those memories all coming flooding back.
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Ron Shamgar
Ron Shamgar@RonShamgar·
Last time negative gearing was abolished property prices and rents went up !! (1985-1987) This policy was quickly abolished thereafter Well done to the government for making life even more difficult for young people 👏👏👏👏
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Luke 🕯️
Luke 🕯️@c28why·
As a young renter wanting to buy a new house while growing a business this would be the worst possible combination for me Cc: @JEChalmers
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christopher joye@cjoye

The single biggest winner from the budget: the tax-free owner-occupied home, which is where people will put their money. After the budget doubles the capital gains tax on productive businesses/assets from circa 23.5% to 46-47%, investors will understandably pull money from businesses, shares, commercial property and rental housing and plough it into their tax-free owner-occupied home. It's a great way to push up the prices of these houses. On the other hand, cutting negative gearing while also doubling CGT makes investing in rental properties extremely unattractive. It hammers the capital gain upside on any asset: shares, commercial property, the small or medium sized business you built, venture capital and private equity. It will give Australia the most unattractive capital gains tax in the WORLD (see table below)! So the government's policies will (1) push up owner-occupied house prices, (2) push up rents, and (3) reduce the capital available for investing in any small, medium or large sized business that is driving employment, innovation, growth and productivity/prosperity. Investors will go to other countries where they pay half the capital gains tax, or less. Since these pollies have never worked a day of their lives in the private sector, it is no surprise that when they decide to completely and unilaterally rewrite the entire tax system for all investors and businesses -- after promising before the last election more than 50 times NOT to change the capital gains tax and negative gearing rules -- that they would blow the entire Aussie economy up... Your best bet will be to buy a house, live in it, and hope they keep dropping 500,000 new people into the country every year to pump-up prices...

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Keşfet

@OMGTheMess @SimonCotter62 @tompanos @jason_king72 @Potstirrer111 @opieaccount4 @cosmicjester @DrDemography