The Bill Australia CAN"T afford!

[cods]

dont forget when Bills neg gear kicks in it will get even worse.......who will be buying investment property?????.... NO ONE...

I am sure Bill has a plan B for all those construction workers..he claims he cares about....

Get the facts right cods!

They are only banning them investing in existing properties not new ones that those construction workers work on!

how do you explain this then?


The Master Builders Association found that Labor’s policies would result in up to 42,000 fewer new dwellings being built, 32,000 less full time jobs and an $11.8 billion drop in building activity.


dont forget many labor MPs rushed out and invested in rental property.. since he spread the word?...

[Redneck]

dont forget when Bills neg gear kicks in it will get even worse.......who will be buying investment property?????.... NO ONE...

I am sure Bill has a plan B for all those construction workers..he claims he cares about....

Get the facts right cods!

They are only banning them investing in existing properties not new ones that those construction workers work on!

how do you explain this then?


The Master Builders Association found that Labor’s policies would result in up to 42,000 fewer new dwellings being built, 32,000 less full time jobs and an $11.8 billion drop in building activity.


dont forget many labor MPs rushed out and invested in rental property.. since he spread the word?...

Just vested interests who dont want any interference in their cash cow market.

here is another opinion

--------------------------------------------------------------------

Federal Treasury has scolded the Coalition for overstating the impact of Labor’s negative gearing changes.

The revelation blunts the Government’s attacks against the proposed overhaul of housing tax concessions.

The Australian Labor Party wants to curb negative gearing deductions by limiting the tax break to new investment properties.

Since 2016, the Coalition has continued to claim the plan would “smash” housing values with a “sledgehammer”.

But it can be revealed Treasury explicitly told the government it should not even claim home values “will” fall under the proposal.

Emails obtained by the ABC reveal that last January, Acting Treasurer Kelly O’Dwyer’s office asked officials to fact-check the statement that Labor’s policy to increase capital gains tax by 50 per cent and abolish negative gearing would reduce house prices.

After consulting specialist teams, the department sent back the following correction:

“The … statement is not consistent with our advice.

“We did not say that the proposed policies ‘will’ reduce house prices.

“We said that they ‘could’ put downward pressure on house prices in the short-term depending on what else was going on in the market at the time.

“But in the long-term they were unlikely to have much impact.”

The exchange is a rare public display of tension between the bureaucracy and a government of the day.

The documents were obtained by the ABC under freedom of information laws after a months-long investigation.

The correspondence between Treasury and the Minister’s office took place on January 8, 2018.

That is the same day the ABC first revealed Treasury’s view on the Opposition’s housing tax plans – that the changes would only have a “small” impact on prices.

Caught red-handed’

Shadow treasurer Chris Bowen said “the Government’s been caught red-handed” misrepresenting official advice.

“This is quite a significant revelation,” Mr Bowen said.

“[The government should] stop abusing the Treasury processes, abusing the independence of the Treasury, misrepresenting what the Treasury has said.”

Former senior public servant Andrew Podger said the advice would have been “very carefully” prepared and he praised Treasury for its “pushback”.

“Treasury’s main concern would be that it should not be misrepresented, and it should not itself be drawn into the partisan battle,” he said.

In response to questions, Treasurer Josh Frydenberg pointed to forecasts produced by the property sector, which is fiercely resisting Labor’s plan.

“Independent economic modelling commissioned by the Master Builders Association found that new builds will slow, jobs will be lost, and billions drained from the economy,” he said.

“A survey of more than 1000 people by the Property Council of Australia found … half of all investors admitted they would be forced to charge more rent and around six in 10 current investors would be discouraged from investing in property.”

Treasury appears to have maintained its view about the likely impact of the ALP’s negative gearing and capital gains policy on prices in the three years since it was announced.

In early 2016, the department confidentially told then-treasurer Scott Morrison the overhaul would likely have a small impact on prices.

“Previous changes to negative gearing … and the introduction of the [capital gains tax] discount … had little discernible impact on the market,” officials wrote three years ago.

“[But] the housing market itself has been highly cyclical and it is possible that uncertainty arising from the policy change itself could compound upon a cyclical downturn that may be underway at the time.”

Since then, the national median cost of residential property peaked and has begun falling – although that median price is still higher than three years ago.
Negative gearing on the election agenda

Taxation is set to be a battleground between the major parties at this year’s federal election, with the Coalition attacking the ALP’s tax policies on housing and shares.

Negative gearing allows investors to deduct rental losses from their income tax bill.

If elected, the ALP would restrict negative gearing to new properties and increase taxes on any profit from the sale of a rental property.

The housing tax changes would add an estimated $3 billion to the budget each year, even though existing investments would be protected from the crackdown.

Independent think tank the Grattan Institute and the Australian Housing and Urban Research Institute have called for restrictions on existing housing tax breaks.

The Reserve Bank has previously said curbing negative gearing could be a good thing for financial stability.

-ABC

https://thenewdaily.com.au/money/proper ... e-gearing/

[Serial Brain 9]

The Coalition has been TRYING to pay off the credit card DEBT that the last Labor Government spent.

The Government does have bills to pay ... think of it as your household budget. Money is short and the Mortgage is due ... use the credit card .... and you will NEVER EVER EVER catch up.

Australia is in dire straits and if we allow Bull Shitten to spend all that he promises, we will be REALLY down the drain.

GOODBYE the Australia we were bought up to know and love and welcome to when Aussies prefer to live elsewhere to get a job. Even asylum seekers wont want to come here.

If the Libbos had tried to pay off the debt we would
have been in a depression not a recession.
They just kept the party going with more borrowed money.
We couldn't even pay the public servants or social security without borrowing money -
it's really that bad!

Every time that the Liberals try to make savings - Labor Stooges and Fake Media go on an all out rampage about CUTS

We still see it on this forum today with Leftwing for instance.

To stay within any budget that is out of control - you have to tighten up your belt - you can't spend your way out of debt no matter what the economic illiterate Labor/Greens and their supporters say.

[brian ross]

Savings by cutting something are correctly referred to as "cuts", Serial.

[LEFTWINGER supreme]

The Coalition has been TRYING to pay off the credit card DEBT that the last Labor Government spent.

The Government does have bills to pay ... think of it as your household budget. Money is short and the Mortgage is due ... use the credit card .... and you will NEVER EVER EVER catch up.

Australia is in dire straits and if we allow Bull Shitten to spend all that he promises, we will be REALLY down the drain.

GOODBYE the Australia we were bought up to know and love and welcome to when Aussies prefer to live elsewhere to get a job. Even asylum seekers wont want to come here.

Tried to pay it off.... By doubling it

[Neferti]

The Coalition has been TRYING to pay off the credit card DEBT that the last Labor Government spent.

The Government does have bills to pay ... think of it as your household budget. Money is short and the Mortgage is due ... use the credit card .... and you will NEVER EVER EVER catch up.

Australia is in dire straits and if we allow Bull Shitten to spend all that he promises, we will be REALLY down the drain.

GOODBYE the Australia we were bought up to know and love and welcome to when Aussies prefer to live elsewhere to get a job. Even asylum seekers wont want to come here.

Tried to pay it off.... By doubling it

Giggle all you want .... do you really want AUSTRALIA to grind to a stop because we can't pay our Pensioners,
Welfare recipients and the other variety of "bills" needed to run the Country?

What happens in your household if you find you don't have enough income to pay the mortgage/rent and buy food for the kids, petrol for the car? Do you pack your bags and start living in the car? Or do you decide that the neighbour has more money than you do and should SHARE and take you in? Get REAL!

Labor usually spends so much money on the "never never" by promising BILLIONS of dollars for this and that, FREE all sorts of stuff, when they don't even know what our REAL debt is already!

STUPID voters who never, ever follow Politics, and only vote because they have to (or pay 20 bucks), see Politicians promising all sorts of DOLLARS that might or might not end up in their hip pockets. What these strongos don't understand that it is THEIR TAXPAYER DOLLARS .... The Government and Opposition do NOT have a money tree. They are both promising to spend OUR MONEY on stuff we don't want to get into POWER.

Fuck them! (the pollies)

[brian ross]

What I find interesting is how everybody proclaims that Australia hasn't had a recession in over twenty years and then condemns the means by which that recession was avoided - spending. Spending by the ALP which stopped Australia, along with Poland to be one of only two countries that didn't have a recession in 2008. Now, if we had followed the Tories' advice, we'd have cut spending and suffered a recession. The Tories have doubled the national debt, nay, nearly trebled it since they came to power and still we have Tories who proclaim that the Tories are "better economic managers than the ALP." Really? Crazy thinking there, ladies and gentlemen, truly crazy but hey, if you're a one-eyed Tory support, I suppose any lie is acceptable to you, right?

[Neferti]

What I find interesting is how everybody proclaims that Australia hasn't had a recession in over twenty years and then condemns the means by which that recession was avoided - spending. Spending by the ALP which stopped Australia, along with Poland to be one of only two countries that didn't have a recession in 2008. Now, if we had followed the Tories' advice, we'd have cut spending and suffered a recession. The Tories have doubled the national debt, nay, nearly trebled it since they came to power and still we have Tories who proclaim that the Tories are "better economic managers than the ALP." Really? Crazy thinking there, ladies and gentlemen, truly crazy but hey, if you're a one-eyed Tory support, I suppose any lie is acceptable to you, right?

So, when you have a month when the bills pile up, electricity, car rego, household insurance, birthdays and Christmas all due at the same time what do YOU do? Go out and buy a new SUV?

Undoubtedly you do, since it is presumably the NEIGHBOR's credit card, you will be using, NOT yours.

See ... this is how the ALP operates? Conservatives live within their means. Leftards and socialists live off others.

I think you are more a communist than anything else. What I have is something you want.

Fuck off.

[brian ross]

What I find interesting is how everybody proclaims that Australia hasn't had a recession in over twenty years and then condemns the means by which that recession was avoided - spending. Spending by the ALP which stopped Australia, along with Poland to be one of only two countries that didn't have a recession in 2008. Now, if we had followed the Tories' advice, we'd have cut spending and suffered a recession. The Tories have doubled the national debt, nay, nearly trebled it since they came to power and still we have Tories who proclaim that the Tories are "better economic managers than the ALP." Really? Crazy thinking there, ladies and gentlemen, truly crazy but hey, if you're a one-eyed Tory support, I suppose any lie is acceptable to you, right?

So, when you have a month when the bills pile up, electricity, car rego, household insurance, birthdays and Christmas all due at the same time what do YOU do? Go out and buy a new SUV?

Undoubtedly you do, since it is presumably the NEIGHBOR's credit card, you will be using, NOT yours.

See ... this is how the ALP operates? Conservatives live within their means. Leftards and socialists live off others.

I think you are more a communist than anything else. What I have is something you want.

Fuck off.

Gee, I like you too, Neferti.

As usual, you miss the point. The ALP spends when there is a need to spend. The Tories spend when there is no need to spend and you think you're the better economic managers? Really? Oh, lordy, lordy, me. We are well and truly fucked, aren't we if you lot get back in power again...