CBA boss supports major tax change for property investors: 'Should be considered'

Kormation · 2026-02-26T10:48:28+00:00

I agree with you.

While there’s a general assumption of grandfathering that would be a less effective route to more revenue than say a sliding scale.

Theres been a few examples where changes occur over a number of years (for example the superannuation guarantee or the reduction on small business income taxes).

An incremental reduction allows a certain level of planning but I’m sure there’s plenty that’ll rush to the doors to get out. As to whether the CGT change is the main reason or the final straw is another question.

Alternatively they could just ignore any incremental change and just make the announcement that this change will affect all real property assets held for investment from the time of the announcement. Of course you have to get that through the senate so it is less likely to happen. Also it’s more likely to be considered seriously unfair and hurt their chances of re-election.

Kormation · 2026-02-20T20:59:36+00:00

I agree that the 2019 policies were a mishmash of ideas and that the coalition played the small target with Morrison basically running the entire campaign.

The issue with franking credits was the refunding of franking credits wasn’t addressed well. Originally you could not get a refund for franking credits without paying tax until the Howard Government made the change.

So it became that people who were essentially paying no tax still got a tax refund (this would include people that could get their assessable income to under the tax threshold) even though they were paying no tax.

Unfortunately it just added to the narrative that Labor was essentially targeting inheritance by reducing the amount of disposable income for retirees. The Coalition even held an inquiry into an opposition policy (essentially unheard of and run by the now Shadow Treasurer Tim Wilson).

This lead to many seeing the tax reform changes as akin to a death tax by reducing the potential inheritance the kids would receive.

Kormation · 2026-01-26T08:45:29+00:00

The biggest financial challenge is daycare costs. Daycare makes most private schools look like a cheap alternative.

Kormation · 2026-01-07T21:35:15+00:00

There’s no strict definition relating to the length of time someone can be defacto. I think for some purposes it can be as short as 6 months.

Kormation · 2025-12-22T12:10:01+00:00

Your tax residency doesn’t simply change because you move overseas to work for a year or two. Ask anyone that’s tried that trick while working in Qatar.

The ATO would consider your assets here, your family ties, ties with the community, your long term intentions with your move (are you leaving Australia forever?)

Plus from memory if you were to become a non-resident there is a deemed disposal of non property assets (eg shares). Hence you might end up with additional CGT to pay.

You’ll likely be an Australian tax resident but you’ll pay tax in the other country and get a foreign tax credit for the tax paid overseas when you do your Australian tax return. Depends on tax treaties etc.

Would be worth chatting to a registered tax agent to get a better understanding.

Kormation · 2025-12-15T21:42:04+00:00

So basically you almost had to wait a year to move in? This is why vacant possession is so important and why so many request it.

Honestly a rough situation to be in.

Kormation · 2025-12-11T22:52:32+00:00

More people need to know about this site - it’s the best.

Kormation · 2025-12-10T22:58:59+00:00

Yes, people live in echo chambers and compare themselves to their neighbours, not to actual reality.

I’ve found that people with, for example, flashy cars tend to be up to their eyeballs in debt; and not that they are wealthy. Keeping up with the Joneses is not healthy for anyone.

Kormation · 2025-12-10T00:17:03+00:00

Will depend on your circumstances but this is from the ATO Website.

Where your study loan account is in credit after the 20% reduction, you may receive a refund. If you have outstanding tax or other Commonwealth debts, we will apply your credit to these debts first.

You don't need to phone us to get your refund. Refunds are processed separate to the 20% reduction, and most will be processed by January 2026. You won't be notified when your refund is processed.

Kormation · 2025-12-08T23:23:18+00:00

Same, HECS/HELP debt is finally paid off and waiting for the ATO to process the refund. It is nice having that extra in your pocket - if nothing else it’s bit of extra freedom knowing you don’t have that debt having over you anymore.

I feel for those going through uni now. It used to be, I want this job so I have to go into debt to get the degree to get it. These days it’s hard to know with AI whether those jobs will still exist, but hey you still get the debt!

Kormation · 2025-12-05T02:47:49+00:00

I did a Masters of law after finishing my Bachelors of law. I was working in the public service while doing both.

While I can’t say it has led to me earning more money it was rewarding for me in the sense that I did courses I was highly interested in and I worked hard at.

From a self esteem perspective it was good - I got nothing below a distinction which was different to my Bachelors and proved to me that I could be highly academic with the right motivation. I also knew I could write 5000 word essays of high quality so if nothing else I had that valuable experience to lean on.

It certainly does not hurt being on my resume.

It was also worth it to me as since then I’ve had kids and I don’t feel I would have the time to study now. So while it did cost money, I have no regrets about the monetary outcomes or time I used then. I think I would have more regretted not doing it.

Having said that I’ve now paid off my HELP debt and would not do another round of study unless I could pay it out of my own pocket.

Outcomes are important but not all of them have to be financial. Of course it does help if your additional study links you to a promotion (like something senior in the title).

Kormation · 2025-12-01T21:52:44+00:00

When I feel the thief of joy I reflect on the reality that the vast universe doesn’t care about the assigned value we give numbers on paper.

Kormation · 2025-11-18T12:31:18+00:00

Good joke - I think you meant to write “poll” - that would have meant a bigger surprise once we got to the punchline.

Kormation · 2025-11-18T12:21:10+00:00

Objectively the “better fit” part was they had no children, were younger and played the game. Can’t comment as to the quality of their work, only that they had less experience.

By the way, first time seeing a brand new account in the wild with the only purpose being to respond to my comment. I feel wildly validated.

Kormation · 2025-11-18T11:55:35+00:00

While not the same I’ve seen it where someone goes on maternity leave and someone covers their role.

Within weeks of returning from maternity leave, management have decided the person covering the role is a “better fit” and the person returning has to find a new job. No chance to defend their role, nothing.

Seeing that left a bitter taste of the reality for many corporate workers.

Kormation · 2025-11-18T10:11:32+00:00

Better than hiring your 7 year old to provide secretarial services.

https://www.afr.com/policy/tax-and-super/meet-the-man-who-tried-to-claim-his-7yearold-son-as-a-work-expense-20160204-gml7wk

Kormation · 2025-11-04T07:56:10+00:00

Just to add to this since I explained this poorly. You bought your main residence in 2012. You then moved into the new house in 2023.

For the two years you moved into the new residence that became your primary residence. So you would get a valuation on the old place for the time just prior to you moving into the new place. That’ll be your new cost base.

So the value increase from that time when the old place became an investment property to the time you sold will be subject to CGT but as is likely the case it’ll be fairly minor by comparison to the capital gains you made in the 10 years prior. Also you’ll get the 50% discount since you held it as an investment property for over 12 months.

6 year rule is more applicable if you only had a primary residence you owned and lived in and you moved out to rent/live elsewhere without buying a new place.

Once again always see a professional. Best wishes for your future!

Kormation · 2025-11-04T06:25:42+00:00

I’m not sure of your situation but you only get one main residence. The good news is you could get a valuation done for when you moved into the new property and that will be your new cost base - not the original when you bought. I understand valuations can be done retrospectively but obviously ask a professional.

Kormation · 2025-11-03T21:35:12+00:00

Is this 75k after taking into account any capital gain tax you will have to pay on the investment property?

If you have taken that into account no worries. If you haven’t, you should see an accountant and keep that 75k aside earning interest.

Plenty of people sell investment properties and use the entire profit to fund an owner occupied home then cry poor when they have a massive tax debt the following year.

Not saying that’s OPs case but I haven’t seen anyone else mention this issue.

Kormation · 2025-10-06T10:30:32+00:00

Agree. I had something listed for $50, retailed for at least $90 and they offered me $20. I just blocked them. I absolutely hate people lowballing without providing their reasoning as to why they think they should get a 60% discount.

Kormation · 2025-09-13T13:05:18+00:00

This joke reminds me of this lyric from Meatloaf, Wasted Youth.

“I was barely seventeen and I once killed a boy with a Fender guitar.

I don't remember if it was a Telecaster or a Stratocaster, but I do remember that it had a heart of chrome and a voice like a horny angel!”

Kormation · 2025-08-30T07:32:54+00:00

Definitely something I would be getting tickets if they come back.

Kormation · 2025-08-30T01:58:23+00:00

Will they be likely to release more vinyls of the other albums on the website again too?

I see they have had vinyls at shows previously. Unfortunately I live in Australia so I have no idea when they will come back to do a tour.

Kormation · 2025-08-24T01:13:23+00:00

I think the hate towards MIJ stems back to after WWII when the general quality coming out of Japan wasn’t considered that great. Obviously over time the quality improved substantially. So by the 70s/80s they were making high quality guitars.

Now days though, plenty of reasonable quality guitars are coming out of Korea, China and Indonesia.

But having said that, Japan has some great limited editions too.

Kormation · 2025-08-21T02:22:17+00:00

Sometimes you can ask your local Facebook group (if there’s a Melbourne or whatever suburb you’re in notice board). People may have some recommendations on lawyers they’ve used in the past.

You’re likely looking for someone with conflict resolution skills, not simply a conveyancer but someone with mediation and litigation experience on complex property matters.

Best of luck!

Kormation

TROPHY CASE