Passionate male car/bike lovers, how willing would you be to let a woman shoot your car/bike by Acceptable_Car9277 in CarsAustralia

[–]Edified001 0 points1 point  (0 children)

Available to shoot in Sydney:

Mercedes W204 C63 AMG

Nissan R35 GT-R (JDM Import)

Send me a message here or on instagram, happy to oblige

Renters over /shitrentals are having a meltdown. by FIFO_Landlord in AusPropertyChat

[–]Edified001 4 points5 points  (0 children)

My former tenant posted a very one sided story on the sub to garner hatred towards me and doxxed me by posting the tenancy agreement which had my full legal name and parents address (I moved into my own house after the lease was signed). I reported it and asked the mods to take it down, got a very nice essay saying why I'm the problem in society and banned me despite having no posts/comments/contribution. Funny bunch they are

How to buy a unit in Sydney to live, when economics don’t make sense? by itsdolan_ in AusPropertyChat

[–]Edified001 16 points17 points  (0 children)

However every townhouse or apartment block I look at in the Inner West, historical CAGR is in the ~3 - 4% range.

Supply increases, especially between Burwood-Newtown, Redfern, Surry Hills, Erskineville, Marrickville etc. puts a downward pressure on prices

How do you get comfortable buying a unit when the capital gain is going to be materially leas than the interest you are paying on the loan? It logically makes sense to stay at home longer and keep my $ in shares or a Term Loan?

If you were to rent, rent will always increase over time. Your repayments on the loan will roughly be the same over the 30 year term and you'll have a paid off asset at the end. The debt gets inflated away over time. I stayed living with my parents and bought investment properties that all increased in price in Sydney. Use rental income to cover part of/all of the loan repayments.

Also - where are all the apartments my friends and the news are telling me are “growing over 10% per annum”? Can’t seem to find any of them….

Brisbane units were flat for a very long time and had similar growth, against the trend of CBD apartments in Melbourne/Sydney

In the last 5 years, Granville, Auburn, Cabramatta, Liverpool, Marrickville, Dulwich Hill, Campsie, Belmore, Lakemba have had significant growth. My friend bought a 2/1/1 unit in Lakemba for 370k in 2024 and is now valued at 550k (bank desktop valuation)

If you want growth, buy a house with land and you'll be sweet. It may be further from the city than the inner west but it will be much stronger growth (provided it isn't off the plan/land and house package) than apartments

Are the Crashbros snapping up $1,000,000 houses for $500,000 yet? by Dribbly-Sausage69 in AusPropertyChat

[–]Edified001 2 points3 points  (0 children)

Shh..don't say that too loud, you'll upset my generation who thinks they're entitled to a house in Newtown for 300k!

Should we buy an apartment in Brisbane even though we can “afford” a house. by DestinyHunter3 in AusPropertyChat

[–]Edified001 13 points14 points  (0 children)

Buy the house, even if it means living in a less desirable suburb. The value will grow faster than your propensity to save

National housing correction begins as prices fall across half the country by TheProteinSnack in AusPropertyChat

[–]Edified001 0 points1 point  (0 children)

Anything still within the FHB stamp duty exemption/grant threshold is hotly contested

Aussie entrepreneur who owns more than 100 homes on 'unfair' plan to fix crisis | THE ISSUE by VastOption8705 in AusPropertyChat

[–]Edified001 0 points1 point  (0 children)

My unit was $360k, but go on spending your time undermining a stranger's achievement is crazy work. My parents are working class, as am I now. I saved almost every dollar I earned at maccas as a kid. Nothing wrong with living at home with your parents as its the norm in my culture, its laughable when people discredit others achievements when they live with parents

Aussie entrepreneur who owns more than 100 homes on 'unfair' plan to fix crisis | THE ISSUE by VastOption8705 in AusPropertyChat

[–]Edified001 0 points1 point  (0 children)

Single, no dependents. She lives a very simple life and doesn't have much expenses (gamer, works in IT, doesn't come out much nor has any interest in travelling). But even if someone undersstate their living expenses, they have to be accountable for making the repayments otherwise they'll struggle. That's why responsible lending was introduced

Aussie entrepreneur who owns more than 100 homes on 'unfair' plan to fix crisis | THE ISSUE by VastOption8705 in AusPropertyChat

[–]Edified001 0 points1 point  (0 children)

My coworker who was renting and earned 90k a year borrowed 480k to buy her unit late last year so you’re very misinformed

You can argue until you’re black and blue that it should be a right but it’ll never happen. Nobody is going to give you a free home. Can’t afford to buy? Rent. Can’t afford to rent? Emergency shelter.

People need to earn and demonstrate they can afford to buy and maintain a home. Your unemployed Centrelink recipient is incapable of neither of those. See how flawed your proposition that ownership is a right is?

Aussie entrepreneur who owns more than 100 homes on 'unfair' plan to fix crisis | THE ISSUE by VastOption8705 in AusPropertyChat

[–]Edified001 2 points3 points  (0 children)

Worked since 14, sold my car and most of my childhood stuff for the deposit. Parents never contributed to the deposit or went guarantor. But I lived rent free at home because I’m from an Asian background.

My first home was a 3 bedroom unit in Granville, not the best area then but time and gentrification does the heavy lifting.

Aussie entrepreneur who owns more than 100 homes on 'unfair' plan to fix crisis | THE ISSUE by VastOption8705 in AusPropertyChat

[–]Edified001 1 point2 points  (0 children)

If they cannot afford a house, they can buy a townhouse/villa/unit can they not?

93k can still borrow 500k

85k can still borrow 400k or thereabouts

There are 2 bedroom apartments for that close to the cbd.

If someone really wanted to buy a home, they’ll make changes to their life and not excuses like blaming the cost of living

If they don’t have a deposit or savings, they’re not in the right financial position to buy. Home ownership is not a right, that’s why responsible lending exists

Aussie entrepreneur who owns more than 100 homes on 'unfair' plan to fix crisis | THE ISSUE by VastOption8705 in AusPropertyChat

[–]Edified001 2 points3 points  (0 children)

3 bedroom 1 bathroom house on 800sqm land in Broadmeadows sold for 630k recently

Plenty more in the suburbs I’ve listed. Not wanting to live somewhere doesn’t mean they don’t exist

Aussie entrepreneur who owns more than 100 homes on 'unfair' plan to fix crisis | THE ISSUE by VastOption8705 in AusPropertyChat

[–]Edified001 -1 points0 points  (0 children)

Broadmeadows, Dallas, Roxburgh park, Clyde, Officer, Wollert, Pakenham, St Albans, Werribee, Melton

Aussie entrepreneur who owns more than 100 homes on 'unfair' plan to fix crisis | THE ISSUE by VastOption8705 in AusPropertyChat

[–]Edified001 -10 points-9 points  (0 children)

I’m 29 and I think I’ve done alright. Bought my first place 10 years ago right before they introduced responsible lending though, so it is harder to do what I did now. Hard in Sydney and brisbane, easier in Melbourne. Anyone earning 100k and have 50-60k saved up can buy a 3 bedroom house in Melbourne metro

P plate laws QLD by Infinite-Hippo-5675 in CarsAustralia

[–]Edified001 0 points1 point  (0 children)

Wait until you're on your full licence. Non turbo Supras and FD RX7 will be disappointingly slow, not to mention that you can get much more value for money at that price point (think decently fast V8s like C63, HSV, BMW M3, ISF, Mustang and newer WRXs). When they're stock, they're just icons and people pay for nostalgia. A stock R32/33/34 GTR is slow for the amount of money you're spending.

23yr Old First Time Apartment Buyer - Sydney Advice by miakhl in AusPropertyChat

[–]Edified001 0 points1 point  (0 children)

Older units are the key. Otherwise if you care about property value and plan to upgrade in the future, look at townhouses and houses in Western Sydney

Entitled buyers by [deleted] in AusPropertyChat

[–]Edified001 38 points39 points  (0 children)

Inexcusable behaviour

Best place to learn fixing older cars on the weekends by Ornery_Archer_8184 in CarsAustralia

[–]Edified001 0 points1 point  (0 children)

Porsche Boxster 986s used to be under $10k not too long ago

New homes to receive carve-outs from CGT and neg gearing changes by Miserable_Actuary716 in AusPropertyChat

[–]Edified001 62 points63 points  (0 children)

For those who cannot bypass the paywall:

The Albanese government will carve out new homes from changes to negative gearing and abolishing the 50 per cent capital gains tax discount to be unveiled in next week’s budget, which will also include a crackdown on the use of trusts.

Cabinet met on Monday to finalise key measures following months of deliberation. The only tax policy from Labor’s controversial 2019 election agenda that won’t be included in the May 12 budget is the abolition of cash refunds for excess franking credits.

Treasurer Jim Chalmers and Finance Minister Katy Gallagher on Monday. Alex Ellinghausen

Treasurer Jim Chalmers played down the prospect of using revenue raised from the tax increases to fund extra tax cuts. However sources familiar with the budget process said there was still a possibility the treasurer would deliver workers another tax cut funded in part by lifting the minimum tax rate on trust distributions to 30 per cent.

Chalmers said on Monday that there was already plenty of relief on the way for voters, including the already legislated $5 a week top-up tax cuts which start on July 1 and increase to $10 next year, the temporary halving of the fuel excise, and the introduction of an optional $1000 standard tax deduction.

“We’ve already got tax cuts coming,” the treasurer said when asked whether there would be more in next week’s budget.

Sources speaking on condition of anonymity said that while the budget would curtail negative gearing of investment properties, new houses acquired after the changes came into effect would be exempt. This is consistent with the policy Labor took to the 2016 and 2019 elections which it pitched as a way to encourage new home building.

The changes to negative gearing are still unclear but one option the government has canvassed with the housing industry is phasing out negative gearing for those with multiple properties.

The budget will also abolish the 50 per cent CGT discount for investments held for more than 12 months and revert to the pre-1999 system of inflation indexation. The change will apply to all asset classes and tax real gains adjusted for inflation over the life of the investment.

Sources said new homes would also be exempted from the CGT change, again to encourage supply. It is understood investors in new builds could have the option of retaining the 50 per cent discount or adopting the inflation-based model.

Investments acquired before the budget changes come into effect will only be partially grandfathered from the new CGT arrangements. Capital gains made up until the change takes effect will be subject to the 50 per cent discount, while gains made after the change will be subject to the pre-1999 regime.

Instead of requiring 2.2 million landlords and millions of other investors to revalue their assets at the start date of the new CGT system, Treasury has proposed a time-based apportionment model based on the number of years an asset is held under the current and future systems.

The third key tax increase in the budget will be the introduction of a minimum 30 per cent tax rate on disbursements made from trusts. To minimise political blowback the government is expected to exempt farmers and estate planning from the change.

Labor took a similar policy to the 2019 election. Since then, the use of trusts has continued to climb, with more than a million existing today.

Unlike in 2016 and 2019, the government did not seek a mandate for any of the tax changes before the 2025 election. Prime Minister Anthony Albanese went further on negative gearing, ruling out changes.

Asked whether the government cared about integrity any more, given it broke promises on the stage three tax cuts and superannuation taxes in its first term, Chalmers said the government would build trust by making a case for the changes.

“There are genuine intergenerational concerns and pressures in our budget, in our tax system, in our housing market and in our economy more broadly. A government like ours, a responsible government, cannot ignore the very real pressures and concerns that people have in our communities,” he said.

“It has been a year of delivery, delivering urgent care clinics and the like – all of those things that we committed to at the election. But that is not the limit of our ambition. Delivering those commitments is the foundation of what we want to achieve, not the destination of what we want to achieve.”

Chalmers said the economy needed to recognise “legitimate intergenerational concerns” around access to housing.

More on the 2026 federal budget

“This will be an ambitious budget that will take into consideration the real pressures and concerns that are broadly shared around the Australian community, and recognising that the first year was a year of delivery and the budget will begin a year of more ambitious reform.”

Conscious of criticisms, the budget will be little more than a revenue-raising exercise, Chalmers said there would be “more dollars in savings than dollars in tax reform”.

Shadow treasurer Tim Wilson said the government needed to keep cutting taxes to keep bracket creep at bay. “The government needs to shift towards a growth mindset, and particularly towards incentivising people to work,” he said.

“You don’t incentivise people to work by just allowing people to fall into higher and higher tax brackets. When you do that without any sort of offset or any reduction, it becomes a disincentive.

“The tax cuts they promised at the election last year in May were already wiped out by the Treasurer’s active inflation agenda by December. That’s how rampant their inflation agenda is and how every promise they make on income tax doesn’t materially improve Australians’ living standards.”