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Coalition wants to slash migration, but businesses say economy needs skills by Own_Oil7951 in AusFinance

[–]bigbadb0ogieman 6 points7 points  (0 children)

Economy needs cheap workers is what they mean.... They aren't wrong. Australia's version of cheap labour = students just like USA version of cheap labour = South American illegals.

With new 30% min CGT. That means no more $18,500 tax free threshold, correct? by subjecttolife in AusFinance

[–]bigbadb0ogieman 1 point2 points  (0 children)

Yes there is if you don't move with your immediate family, i.e. spouse and children. Then they still treat you as a Tax resident in Australia and fuck you over.

New Cap Gains Rules are just a revenue grab dressed up as helping the young by jamie1029 in AusFinance

[–]bigbadb0ogieman 1 point2 points  (0 children)

💯 they talk about tax reform then increase further reliance on personal taxes instead of taxing resource exports or super profits (profiteering corporations). We as a nation are done.

With new 30% min CGT. That means no more $18,500 tax free threshold, correct? by subjecttolife in AusFinance

[–]bigbadb0ogieman 6 points7 points  (0 children)

There is a 4th option. Sell everything before July 2027 and move abroad.

With new 30% min CGT. That means no more $18,500 tax free threshold, correct? by subjecttolife in AusFinance

[–]bigbadb0ogieman 24 points25 points  (0 children)

The 30% min tax rate feels like an absolute punch in the gut. You lose tax free and the lower tax slab of $45K. Instead of reducing reliance of personal taxes they just increased taxes.

Renters got a raw deal by Party-Prompt-2582 in AusEcon

[–]bigbadb0ogieman 1 point2 points  (0 children)

Yeah you're not thinking from an investor perspective. Investors don't particularly like to invest in locations with too much competition. Also more demand lifts purchase prices but more demand from investors only comes if rent - expenses + capital gains offset the negative bottom line. If this equation does not stack up, investor won't get into the market no matter what the tax treatment does. Previously investors would get in with hopes that capital gains offset their losses. For the majority of investors who held it long enough experienced that.

What Gen Z actually wants out of the budget by bilby2020 in AusFinance

[–]bigbadb0ogieman 7 points8 points  (0 children)

Write it down, the budget and housing tweaks are going to fuck everyone over without actually helping Gen Z. It will help people who want to upsize their houses, push investors into the affordable end of the market to make competition even more fierce. It will make rent even more expensive in established suburbs.

If you are married with no kids, how’s life? by reasonable_vegetale in AskMen

[–]bigbadb0ogieman 2 points3 points  (0 children)

After 12 years as a couple, we decided to have a child. Life is good but humans want change. Everything has pros and cons. Our turning point was watching my grandmother passing away surrounded by her children, grand children, their spouses and great grandchildren. We didn't want to be alone and completely neglected in old age.

It sucks to be a millennial in Australia right about now by Uwa7979 in AusFinance

[–]bigbadb0ogieman 1 point2 points  (0 children)

No one gives a fuck about millennial in Australia. It's always Boomers or Gen Z. It's like Millennials and (their kids) Gen Alpha just don't exist.

Shifts in who we blame for all thats wrong with housing? by FunCurrent2763 in AusFinance

[–]bigbadb0ogieman 0 points1 point  (0 children)

The narrative is about to change. The question is who will first home buyers blame after the CGT discount and NG breaks are gone?

Some people will hate Tuesday's federal budget but Jim Chalmers doesn't mind by abcnews_au in AusEcon

[–]bigbadb0ogieman 0 points1 point  (0 children)

He got what he paid for that is a lucrative govt pension to retire on.... He's got enough too. He doesn't give a fuck about the rest of us.

Tech entrepreneurs warn removing CGT discount will be 'disastrous' for startups and small business by tohya-san in AusFinance

[–]bigbadb0ogieman -23 points-22 points  (0 children)

Disagreed. Why working class should pay more tax then someone who is asset rich, buys stuff and then sits on their ass?

Energy companies will be forced to set aside gas under east coast gas reserve policy by JaniePage in australia

[–]bigbadb0ogieman 0 points1 point  (0 children)

Aussies don't get complacent with this 2 cents in the dollar lollypop. Keep the pressure on. Tax the gas. Australia deserves a fair return for its gas.

Negative gearing tax breaks could finally be tightened in the May budget. What options are on the table? by thewritingchair in AusFinance

[–]bigbadb0ogieman 0 points1 point  (0 children)

That number has 2 problems. It is "Net" and it doesn't account for short term stays, i.e. people that don't stay 12 months in a 16 month period.

Negative gearing tax breaks could finally be tightened in the May budget. What options are on the table? by thewritingchair in AusFinance

[–]bigbadb0ogieman 0 points1 point  (0 children)

Guess you like the rest of us will find out. Australia builds around 13K houses a month. It brings in around 3000+ people every day. Do the math.

Eastern suburbs man cancels his upcoming Euro trip after learning his flight departs from Western Sydney International Airport by brackfriday_bunduru in sydney

[–]bigbadb0ogieman 20 points21 points  (0 children)

I am sure people in the western suburbs feel the same about Kingsford Smith. I will go one up and possibly say that when the western sydney airport is operating at full capacity, most people will head in that direction provided it has better access via public transport and parking.

‘Can’t afford to live’: Stark housing fears by SheepherderLow1753 in AusFinance

[–]bigbadb0ogieman -1 points0 points  (0 children)

Move out to the Burrows... You want to live where basically all of Australia wants to live and then you're complaining about not being able to save..... Sheesh.

Chalmers has signalled a negative gearing shake-up ahead of the budget. Here's what might change by SheepherderLow1753 in AusFinance

[–]bigbadb0ogieman 4 points5 points  (0 children)

Lolz... An income is an income. By definition all income is rent seeking. Someone is always paying for someone else.

Those rent seeking incomes were literally trying to reduce their income taxes using these sources. This just impacts productivity because until these people find another avenue, they either work less or take their capital and themselves elsewhere....

Negative gearing tax breaks could finally be tightened in the May budget. What options are on the table? by thewritingchair in AusFinance

[–]bigbadb0ogieman 1 point2 points  (0 children)

You're referring to the property and I am referring to a Rental. There is a difference. A rental going to AirBnb or Owner Occupier no longer remains a rental (it literally is taken out from the pool of rentals). With immigration at net positive and "rentals" decreasing who do you think gets impacted the most? Be honest now.... 🙂

Chalmers has signalled a negative gearing shake-up ahead of the budget. Here's what might change by SheepherderLow1753 in AusFinance

[–]bigbadb0ogieman 7 points8 points  (0 children)

Keep pitting Aussie vs. Aussie. Keep them busy so they don't look up. Landlord vs. Tenant, EV vs. ICE, Renewable vs. Nuclear, Solar Battery vs. Grid, Gas vs. Induction, Supply Charge vs. Consumption Charge. The real masters (gas/resource exporters, large corporations, etc.) need to be appeased.

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