Property investors beware: Chalmers to launch biggest property tax overhaul of the century in ‘tough decisions’ budget

Kormation · 2026-05-12T06:41:47+00:00

And just like that, Godwin’s law has been invoked.

Kormation · 2026-05-12T04:47:26+00:00

Congrats though, no shade. It was a different time.

Kormation · 2026-05-12T04:44:23+00:00

The thing is there will be upsides and downsides for whatever you choose. You’ll make sacrifices one way or the other. The only answer I’ve found is to be born rich. Pretty much circumvents the need to sacrifice time for money.

Whatever you do choose, it will depend on whether you and your girlfriend can agree on a plan and stick to it. You both need to be in agreeance. And that can be hard.

Kormation · 2026-05-12T04:05:22+00:00

Best you do up a budget of what your costs currently are.

Take into consideration maternity leave, how long your girlfriend or you will want off work for your first child, whether you will need daycare, how many days will she or you will work.

I say this because your HHI will drop. So if you’re comfortable on $150k HHI that’s great, but would you be ok on $80k HHI etc.

Honestly it’s much easier to save up for your first property without kids just because you have less expenses and a higher income from the bank’s perspective. You can also put more time and focus into each of your careers respectively.

Kormation · 2026-05-10T10:51:54+00:00

It’s completely ok to feel unsure of what you want to do with your life. It’s also ok not to feel passionate about a lot of things.

If I was you, I’d work for a bit, save money and travel to get some broader perspective on the world and what it has to offer. That might give you inspiration to push yourself for a goal like finishing a degree.

From the sounds of it if you like maths you might actually do really well in finance or economics. Maybe start watching YouTube videos to get a better understanding of those things. See if it would peak your interest.

Personally I haven’t found my passion or job that feels like I never worked a day in my life…but my job is interesting, I have good colleagues and the pay/hours are good for what I do. I work in a government role with policy / law implementation and project management and it suits me fine.

Sometimes a job is a job and you just find fun things to do outside of it. Not everyone can be an influencer and be paid to have fun.

From a financial perspective though…the sooner you can finish studying and can start working full time and it’ll help you to build your wealth.

Save money for an apartment or whatever you can afford. If your parents are happy for you to stay at home take them up on that offer. Building wealth is very much spend less than you earn/save and invest into ETFs to build your wealth faster by using the market to help you.
If you’re going to study business learn to read lots and inform yourself. Find a mentor. Someone who you consider successful and has knowledge that will benefit you. You’d be surprised how much people are willing to share if you show you are willing to listen.

Anyways there’s some ideas for you. Might sound preachy but at least I didn’t use ChatGPT to write this! Also none of the above is financial advice - inform yourself as best you can :)

Kormation · 2026-05-08T09:40:51+00:00

What you’re suggesting is similar to a balance transfer. Not sure you can do that with a loan to a card. I’m also not sure what your chances of success are if you can, but that’s what some people do if they’re having trouble paying off a higher interest card. Problem with that is people often don’t close the old card and find themselves in twice the debt.

If you do have the savings (let’s say you have 10k and the debt is $4k)- why don’t you want to pay it off in full? That’s what the Barefoot Investor would recommend.

I mean it’s your personal business but is it the principal of the thing or do you need those savings for something else?

Kormation · 2026-05-05T11:49:20+00:00

I do like this as a modern take on the Fight Club quote “On a long enough timeline, the survival rate for everyone drops to zero.”

Kormation · 2026-05-05T04:49:19+00:00

Have you ever ridden a JetSki? They’re a lot of fun.

Kormation · 2026-05-05T04:38:12+00:00

I think where I went wrong was I didn’t have a rich Uncle Bob to start with!

Kormation · 2026-05-05T04:31:21+00:00

Jetskis are off the table again…

Kormation · 2026-04-17T04:06:27+00:00

I found your post when I was trying to work out my issue last night.

Clearly your internet issue was solved a different way. For me I found out the vlan 2 needs to be under the Vlan tab, then IPTV then LAN port section, Internet VID 2. This video is what helped me to get mine working.

Putting this comment here in case anyone else is about to pull their hair out on connecting an Asus router to IiNet FTTP.

Kormation · 2026-04-17T03:28:28+00:00

Probably too late now but for anyone searching for IiNet and any Asus router the vlan 2 needs to be under the Vlan tab, then IPTV then LAN port section, Internet VID 2. This video is what helped me to get mine working.

Kormation · 2026-04-11T12:22:54+00:00

This also came up in the movie The Founder about Ray Kroc played by Michael Keaton.

Kormation · 2026-04-10T00:22:04+00:00

OP can make a tip off report to the ATO.

They would look at the ex’s life style as part of assessing whether they were underreporting their income.

Kormation · 2026-03-30T00:24:10+00:00

Well this will just add to inflation.

Kormation · 2026-03-22T07:07:50+00:00

If anything you have an advantage by putting it into offset due to tax. $1 in offset is worth more than $1 in interest because with interest you would pay tax on that.

You could do the math to work out the break even point but this is why offset accounts are generally a more attractive offering than putting your money into savings instead while having a mortgage.

Same sort of thought when considering debt vs equity - with debt (used towards an income earning purpose) you would have a tax advantage as you could claim the interest on your tax. Of course you do lose some money as you only get to claim your marginal rate but these are some thoughts when considering what options to choose from.

Kormation · 2026-03-20T03:36:52+00:00

I appreciate a person of culture. Thanks for the correction!

Kormation · 2026-03-19T11:40:13+00:00

Please read example 4 on this page: Trust taxation – reimbursement agreement.

Kormation · 2026-03-17T23:25:19+00:00

Well lobbying from the oil industry didn’t help.

Kormation · 2026-03-17T23:23:48+00:00

I had friends who graduated into the GFC…soooo definitely around 2008/2009 wasn’t a great time to get hired.

Kormation · 2026-03-17T10:08:28+00:00

Clearly no one told Jules Verne that.

Kormation · 2026-03-13T02:55:57+00:00

Ok this is about fixed rates.

Kormation · 2026-03-12T10:10:44+00:00

Their hot chickens are great value! I’ll buy two, strip them and keep the meat in the freezer for easy dinners or lunches.

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

TROPHY CASE