Society/Culture The tax system explained in beer

[sherb]

I own 4 houses and intend to end up with 10. I will transfer over too commercial property at some point once I build up more equity.

See the thing is these are my houses, that I purchased from the previous owners because I paid a price they agreed to sell for.

I am not being greedy and taking what is yours because none of these houses ever were yours.

Oh, yes you are.

 

[Benny78]

I own 4 houses and intend to end up with 10. I will transfer over too commercial property at some point once I build up more equity.

See the thing is these are my houses, that I purchased from the previous owners because I paid a price they agreed to sell for.

I am not being greedy and taking what is yours because none of these houses ever were yours.

My only investment property has doubled it's value in two years. It's disgusting it was an reluctant outer suburb joint buy/compromise and the buyers market are innocent young couples or first home buyers. I personally wanted something in the Caulfiled ERUV or Glen Waverley where I could take money off people who didn't deserve to have it. Another desire was to buy up in Gold Coast and Noosa and when the boomers sell up in Melbourne/Sydney and start their retirement dream, I'd be there ready to charge them back what they made in those capital cities. But I've probably left it too late. But thankfully many others are doing that to boomers right now.

Of course you are being greedy. Houses are for living in. The tenant pays the mortgage, and the growth generally comes from poor people trying to copy investors in fear of missing out/never owning a home. Landlords are more or less parasites. I think the solution is to ban investment loans on established property, including new dwellings and limit it to H&L packages in suburban area's and OTP apartments/new high rises in inner area's.

 

[The Passenger]

Probably parties with Dessie Haynes and the Geelong boys in his four houses as well. Don't forget the free hookers and coke.

 

[11sjw]

My only investment property has doubled it's value in two years. It's disgusting it was an reluctant outer suburb joint buy/compromise and the buyers market are innocent young couples or first home buyers. I personally wanted something in the Caulfiled ERUV or Glen Waverley where I could take money off people who didn't deserve to have it. Another desire was to buy up in Gold Coast and Noosa and when the boomers sell up in Melbourne/Sydney and start their retirement dream, I'd be there ready to charge them back what they made in those capital cities. But I've probably left it too late. But thankfully many others are doing that to boomers right now.

Of course you are being greedy. Houses are for living in. The tenant pays the mortgage, and the growth generally comes from poor people trying to copy investors in fear of missing out/never owning a home. Landlords are more or less parasites. I think the solution is to ban investment loans on established property, including new dwellings and limit it to H&L packages in suburban area's and OTP apartments/new high rises in inner area's.

Ban loans on existing (seems too severe) or cut negative gearing for investors into existing properties?

 

[Proud SJW]

All things considered, geelong_crazy26 has managed to do very well playing an almost lone hand in the face of some fairly determined opposition.
I suggest Bigfooty makes him a moderator.

 

[geelong_crazy26]

My only investment property has doubled it's value in two years. It's disgusting it was an reluctant outer suburb joint buy/compromise and the buyers market are innocent young couples or first home buyers. I personally wanted something in the Caulfiled ERUV or Glen Waverley where I could take money off people who didn't deserve to have it. Another desire was to buy up in Gold Coast and Noosa and when the boomers sell up in Melbourne/Sydney and start their retirement dream, I'd be there ready to charge them back what they made in those capital cities. But I've probably left it too late. But thankfully many others are doing that to boomers right now.

Of course you are being greedy. Houses are for living in. The tenant pays the mortgage, and the growth generally comes from poor people trying to copy investors in fear of missing out/never owning a home. Landlords are more or less parasites. I think the solution is to ban investment loans on established property, including new dwellings and limit it to H&L packages in suburban area's and OTP apartments/new high rises in inner area's.

How is it greedy to purchase private property at an agreed price between buyer and seller ?

These houses belong to me and nobody else , prior to this they belonged the previous owner who voluntarily placed the house on the market for sale which I purchased at a price the previous owner agreed to sell at.

Also when I inherit my fathers company and want to expand and employ more workers , can I ask you to send me the money I need to expand instead of getting a loan against my properties ?

 

[geelong_crazy26]

Ban loans on existing (seems too severe) or cut negative gearing for investors into existing properties?

If negative gearing is removed people will just simply push up their rent, I know that is what I will do.

 

[geelong_crazy26]

Did your dad give you a house as well as a job?

No not outside of the wage he pays me.

 

[11sjw]

If negative gearing is removed people will just simply push up their rent, I know that is what I will do.

and unless there is 100% occupancy within a reasonable radius of your property you'll lose tenants. Supply & demand at its best.

 

[geelong_crazy26]

and unless there is 100% occupancy within a reasonable radius of your property you'll lose tenants. Supply & demand at its best.

Where my houses are located demand is greater than supply.

 

[11sjw]

Where my houses are located demand is greater than supply.

Fortunate. Push your asking price up too much and it won't be the case.

 

[geelong_crazy26]

Fortunate. Push your asking price up too much and it won't be the case.

Simple message for you and all the lefties.

We need people with large amounts of capital, its people with large amounts of capital who are best able to invest, take risks and employ people which is required to make all our lives better.

 

[sherb]

I pity people who derive the majority of their satisfaction in life (if not all of it) from acquiring assets and money.

And then see the need to brag about it.

Such a soul-less existence.

 

[geelong_crazy26]

I pity people who derive the majority of their satisfaction in life (if not all of it) from acquiring assets and money.

And then see the need to brag about it.

Such a soul-less existence.

Strange, you have a problem with people who build wealth by performing voluntary transactions on the free market but you are happy for people to take free handouts from the government.

Sounds like a case of tall poppy syndrome.

 

[Scallop Industry Thug]

Strange, you have a problem with people who build wealth by performing voluntary transactions on the free market but you are happy for people to take free handouts from the government.

Sounds like a case of tall poppy syndrome.

Champ; you are not a tall poppy.

 

[geelong_crazy26]

Champ; you are not a tall poppy.

good, can you and your leftie mates please stop taking all this tax off me and other high income earners ?

 

[Scallop Industry Thug]

good, can you and your leftie mates please stop taking all this tax off me and other high income earners ?

Work a bit harder. Get a 2nd job.

 

[sherb]

Champ; you are not a tall poppy.

More like low hanging fruit....

 

[The Delusionist]

good, can you and your leftie mates please stop taking all this tax off me and other high income earners ?

Taxed on the pocket money your father gives you?
Does he put money into your superannuation as well?

Why am I engaging when mods have stated that geelong_crazy26 is a trolling account?

 

[geelong_crazy26]

Guys you know the unemployment rate in this country could be halved within month if a large tax cut was given to big business and high income earners.

But no the left are more interested in having a big government than making life better for the middle and working class.

 

[sherb]

Strange, you have a problem with people who build wealth by performing voluntary transactions on the free market but you are happy for people to take free handouts from the government.

Sounds like a case of tall poppy syndrome.

That's the funniest thing I have read on BigFooty for quite a while.

 

[sherb]

That's the funniest thing I have read on BigFooty for quite a while.

But, then again.....

Guys you know the unemployment rate in this country could be halved within month if a large tax cut was given to big business and high income earners.

 

[sherb]

Taxed on the pocket money your father gives you?
Does he put money into your superannuation as well?

Why am I engaging when mods have stated that geelong_crazy26 is a trolling account?

Probably like me, it's a bit of a diversion from the stresses of everyday life.

 

[11sjw]

Simple message for you and all the lefties.

We need people with large amounts of capital, its people with large amounts of capital who are best able to invest, take risks and employ people which is required to make all our lives better.

Sad thing is you'd be the only person in here that would see me as "a lefty."

 

[RupieDupie]

Taxed on the pocket money your father gives you?
Does he put money into your superannuation as well?

Why am I engaging when mods have stated that geelong_crazy26 is a trolling account?

I’ve asked myself this same question and the answer I came up with is... it is quite cathartic, as GC actually argues and represents a true position that some people have - what he’s saying on here is really really really really dumb, and therefore he’s only parroting people like Tony Abbott. And unfortunately this is the level we are at with this dumb Gubmint, I wish it weren’t true, but...