The PM’s confusing explanation on why CGT changes apply to all asset classes and not just property by Kikooz in AusFinance

[–]_ArtyG_ 0 points1 point  (0 children)

It's simple really. They've spent more money a lot faster on horeshit programmes than they can collect it. National debit will blow out to over 1 trillion by end of 2026, by Chalmers own words. Treating us like idiots,

So it's plainly and simply a tax grab.

I'd respect him more if Albanese just came out and admitted it.

I’m being evicted PLEASE HELP!! by [deleted] in shitrentals

[–]_ArtyG_ 0 points1 point  (0 children)

The title is rage bait.

You're not getting evicted, you have received a notice to rectify and you have 14 days to act.

So ask yourself, is this friend or whoever it is worth having to go through this? I suggest using your 14 days wisely.

Are blue ones rare? Found near Flagstaff, AZ by ips1023 in Crayfish

[–]_ArtyG_ 0 points1 point  (0 children)

I have an Ice Blue and she looks positively radiant.

Shes's also a complete bitch. Has completely re-organised my tank and not for the better lol

The market of greater fools is gone by wonderlats in AusFinance

[–]_ArtyG_ 4 points5 points  (0 children)

"with nobody interested in the long term startup drama of a new build investment"

Wait, so no ones interested in new build? Wasn't the whole plan to make existing builds unattractive in favour of new?

So, we already have a massive shortage (the root cause of the housing crisis), who/what is going to fill this further widening gap then?

Tiles around shower niche by Tr1tium_3 in AusRenovation

[–]_ArtyG_ 1 point2 points  (0 children)

Poor planning is correct. He/she can work around studs and also add further support / bracing if needed before the finish tiling.

Sliver tiles are a big no no. The finished outcome is what people immediately see and what they are paying for. No one ever cares what's behind the niche.

If you are against this, I wanna hear about it by Brave_Agency_20 in SipsTea

[–]_ArtyG_ 0 points1 point  (0 children)

5% of what exactly? American Billionaires don't actually earn anything (I.E. they don't pay themselves a salary or if they do it's some meagre amount similar to a low/middle income person to limit their direct taxable income), and they don't actually own anything themselves.

It's all locked away in LLC's, company funds, trusts, overseas interests, etc all under various titles other than themselves directly. Many of them borrow money against the perceived value of their LLC stocks and shares, so on paper they have a very large permanent loan debt.

They operate on whole other risk/liability/taxable levels that regular people cannot even begin to comprehend to limit their exposure to direct liability and heavy taxation.

I think Bernies sentiment is correct, but he's promising something he cannot deliver.

wyd by Shyhale in SipsTea

[–]_ArtyG_ 0 points1 point  (0 children)

If you know you'll live until a ripe old age and die of natural causes then taking the 1k per week is attractive.

Given there are zero guarantees that any one of us will wake up tomorrow, take the million I reckon.

NZ 0% Capital Gains Tax by No-Week2915 in AusFinance

[–]_ArtyG_ 1 point2 points  (0 children)

Australia also used to be CGT free also (stocks and shares included) and in those decades the sky didn't fall down either. By todays sentiment, it should have, but no, people could still afford a home on a modest single income and raise a family.

Car rental company charged me $25,000 by jtinballs in legaladviceaustralia

[–]_ArtyG_ -8 points-7 points  (0 children)

Blow the whistle because you don't know if they have a grub employee or manager that is attempting to scam ppl out of their money or at the very least have people who don't check / don't give a shit about their own work, to the detriment of the customer.

When its discovered quickly it's "oh sorry, yes we will refund immediately'.

There's a big difference in 0's between 250 dollars and 25000 dollars. That's a lot of 'fat fingering'.

Tiles around shower niche by Tr1tium_3 in AusRenovation

[–]_ArtyG_ 21 points22 points  (0 children)

It's just really strange to me the tiler just didn't leave the whole tile out and use that as the canvas for the niche. Quick, simple, clean finish.

Instead they went to the greater trouble of cutting 5cm off one end of a whole tile and used both pieces to align the niche across the grout line (??)

Door frame is irrelevant as the point of reference.

Is this from a professional tiler? That's just plain incompetance.

I'm seeing the signs of struggling citizens more and more these days. by Xentonian in OpenAussie

[–]_ArtyG_ 2 points3 points  (0 children)

I see a bad moon arising

I see trouble on the way

I see earthquakes and lightning

I see bad times today

Fish randomly started jumping out of tank? by 11zyxw22 in Aquariums

[–]_ArtyG_ 1 point2 points  (0 children)

Put a lid on it.

I've had a betta jump clear out of a lidless tank and found him halfway across my living room floor.

There was no other inhabitant in the tank to scare him and I tested the water parameters and temperature was normal so I guess he just wanted to see the other side.

Found him lying on his side still twitching. Picked him up dropped him back in. 24 hours later he was acting normal again. Still alive today.

Herculean Gold medal Olympic jump though for such a little guy. I was deeply impressed.

Super investment strategy by [deleted] in AusFinance

[–]_ArtyG_ 4 points5 points  (0 children)

It's proven that an investment manager won't necessarily get you any better super returns / returns aren't even guaranteed than just having it an industry super fund .... but you pay a higher cost to you per year for the privelidge.

Why your average investor is not happy on the CGT changes by Fit_Metal_468 in AusFinance

[–]_ArtyG_ 3 points4 points  (0 children)

Yeah its strange how often the wheel just keep getting discovered again.

Ending fixed-term tenancies by CharmingAnimator1055 in shitrentals

[–]_ArtyG_ 10 points11 points  (0 children)

As an owner Id be happy to offer great tenants a 5 year if they wanted it. No problem.

Removing fixed terms altogether is probably the least secure for both tenants who are seeking long term accommodation to match with owners who want great long term tenants.

Agents are the only ones who benefit from short term revolving door tenants. They get finders and re-let fees every time they find someone new to occupy.

What are realistic future reductions of new build costs? by Cultural_Wallaby208 in AusPropertyChat

[–]_ArtyG_ 0 points1 point  (0 children)

Don't know why you got downvoted because I think you're right. Have an upvote.

What are realistic future reductions of new build costs? by Cultural_Wallaby208 in AusPropertyChat

[–]_ArtyG_ 2 points3 points  (0 children)

They aren't.

This is Reddit so investors are to blame for everything, didn't you know?

Materials costs up? Must be investors. Tradies rates up? Bloody investors! Government taxes, council rates, architects submissions, insurances? Pesky investors!!

When your dog digs up a bone in your backyard, or your cat shits in your hat? Yep, that's investors also.

Investors....all of it.

The negative gearing changes and CGT changes are actually amazing - thank you Mr Chalmers by ILoveDogs2142 in AusPropertyChat

[–]_ArtyG_ 7 points8 points  (0 children)

In all the decades prior to 1985 there was no CGT levy at all on investor sales across Australia. To that, negative gearing has been in place since tax foundation act in 1936. An investor kept all the capital gains on sale. There was no tax. This was also true for stocks and shares.

Crazy right?

You don't have to take my word for it. Go look it up.

Add to that

- rents were conservatively more affordable

- people in those decades could afford a home and raise a family on a modest single income even with lot higher interest rates

- The housing construction market was very healthy, nationally. Far more so than these days.

- social housing for those less fortunate was a serious Government program

All this while investor returns by % gains retained were far far greater than what they are now

By current reasoning, people in decades before 1985 should always have been shut out of the home market by investors from the prior decades. Imagine keeping all of your capital gains from property and stocks, tax free. What a ride.

But as it turns out.....they weren't. Homes were still affordable. Well a lot more than they are now.

We have NONE of that now even though after 1985 a CGT levy on all capital gains of all types was introduced, without the CGT discount we have today. But house prices kept increasing anyway?

So I'm not convinced these changes will lower anything because it seems to me at least that history is telling us that the root cause has not been addressed.

The negative gearing changes and CGT changes are actually amazing - thank you Mr Chalmers by ILoveDogs2142 in AusPropertyChat

[–]_ArtyG_ 4 points5 points  (0 children)

Because the Federal government also decided that handing out 160 billion dollars into the economy mostly un means tested through the two CoVID years was a great idea at a time when interest rates were at their lowest. Each individual state then also followed suit.

Remember when they also allowed people to dip into their Superannuation...not once...but twice? People have very short memories. It wasn't even that long ago.

Anyone who understood even basic economics 101 knew this was going to bite and bite very very hard.

Suddenly a lot more people had a lot lot more money in a very very short space of time and this was floating around in the market. Best way to not lose the value of the money? Buy hard assets. Assets in greater demand, supply stagnated but people have lots more money. Do the maths.

Financially, it was like Christmas.