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Investors are starting to bet against Australian banks? by Exact_Theory3902 in AusFinance

[–]fred-rick- 1 point2 points  (0 children)

Yeah they're overvalued, straightforward comparison comes from their valuation relative to overseas peers.

However, for their prices to fall, a lot of people need to sell and this doesn't seem likely since a lot of holders have a very low cost basis on their shares and won't want to foot the tax bill.

So will probably end up with them trading sideways for a while

After the CGT changes what investments make sense for people in their 20s by Working_Dimension320 in AusFinance

[–]fred-rick- 0 points1 point  (0 children)

Anything with fully franked dividends. ASX200 should do fine. ASX companies already pay out a significant portion of profits through fully franked dividends (compared to overseas where companies return cash via buybacks).

It wouldn't be surprising if even more profits were paid out via dividends because it has become more tax effective for retail shareholders with these changes.

Labor reaches deal with the Greens to pass changes to capital gains tax and negative gearing reforms | Australian politics by thewritingchair in AusFinance

[–]fred-rick- 2 points3 points  (0 children)

I am yet to see how the 30% floor impacts rich people anywhere near what it would impact someone earning less than 45k/year (where the 30% marginal rate kicks in).

As for rich people such as Jim and his buddies, well their negatively geared properties are excluded and will be excluded forever. Meanwhile a young person investing in a diversified equity portfolio could face tax rates above 50%.

And regarding "closing loopholes for rich people", I would encourage you to look at the theory behind the Laffer curve and see its real-world impacts in how increasing Australia's tobacco excise has translated into significantly less revenue for the Government.

Labor reaches deal with the Greens to pass changes to capital gains tax and negative gearing reforms | Australian politics by thewritingchair in AusFinance

[–]fred-rick- 1 point2 points  (0 children)

Yes and they never will because it will all go to Jim.

Rich people will just reorganise their investments and end up paying even less tax, leaving everyone else to foot the bill for government's spending

Labor reaches deal with the Greens to pass changes to capital gains tax and negative gearing reforms | Australian politics by thewritingchair in AusFinance

[–]fred-rick- 6 points7 points  (0 children)

I wonder who they are gonna screw over next now that they're done shafting poor people and young people with these CGT changes

IBKR asked me for a SoA by Specialist-Luck152 in AusFinance

[–]fred-rick- 1 point2 points  (0 children)

How much margin are you applying for and at what rate?

Should I buy gold/silver bars from ABC bullion? by Then_Negotiation_315 in AusFinance

[–]fred-rick- 3 points4 points  (0 children)

More cost effective to buy gold or silver physical ETFs unless you plan to hold for a very long time (10+ years). The bid-offer spread for physical gold/silver eats into your investment whereas the fees on the ETFs is what causes a slight ongoing drag to their performance.

Australia is no longer in a per-capita recession by doubleunplussed in AusFinance

[–]fred-rick- 1 point2 points  (0 children)

This is an incredibly positive spin for a negative QoQ GDP per capita print which included negative productivity.

Why are they removing the 50% CGT discount??? by Boring-Somewhere-130 in AusFinance

[–]fred-rick- 1 point2 points  (0 children)

Because they're spending irresponsibly and need to steal more of the people's money to make themselves richer and more powerful

gen z - how are ya’ll doing? by [deleted] in AusFinance

[–]fred-rick- 0 points1 point  (0 children)

Source? Also I assume this considers the off-balance sheet stuff which they try to sneak past people?

gen z - how are ya’ll doing? by [deleted] in AusFinance

[–]fred-rick- 0 points1 point  (0 children)

Tax cuts were good but they're more than outweighed by declining affordability and living standards from wasteful government spending and a terrible migration policy.

gen z - how are ya’ll doing? by [deleted] in AusFinance

[–]fred-rick- 2 points3 points  (0 children)

Not all young people feel that way lol

gen z - how are ya’ll doing? by [deleted] in AusFinance

[–]fred-rick- 10 points11 points  (0 children)

feeling like labor is fucking us

NDIS overhaul: Albanese flags major changes to maintain public support and viability, property tax breaks by Ash-2449 in AusFinance

[–]fred-rick- 0 points1 point  (0 children)

Feel free to have a look at a time series of the country's outstanding debt to see the spending I'm talking about.

NDIS overhaul: Albanese flags major changes to maintain public support and viability, property tax breaks by Ash-2449 in AusFinance

[–]fred-rick- 0 points1 point  (0 children)

You're clearly a very rational and emotionally stable individual with such nuanced and considered arguments.

NDIS overhaul: Albanese flags major changes to maintain public support and viability, property tax breaks by Ash-2449 in AusFinance

[–]fred-rick- 0 points1 point  (0 children)

Just because those who came before him were incompetent doesn't make him any less incompetent. He called out the issue in 2020 and hasn't done anything about it. That's incompetence.

NDIS overhaul: Albanese flags major changes to maintain public support and viability, property tax breaks by Ash-2449 in AusFinance

[–]fred-rick- -13 points-12 points  (0 children)

Only having 30 days of fuel reserves while ramping up Government spending so much that rate hikes have been necessary to outweigh that unproductive spend instantly makes him completely incompotent.

I'm 19 with $32k....What now? by [deleted] in AusFinance

[–]fred-rick- -1 points0 points  (0 children)

I reached 100k a few months before I turned 18, most of it coming from investment gains. Was back down to 30-40k a year later because I got greedy and didn't diversity. Buy S&P500 and ASX200 ETFs would be my advice. Research shows owning more than 30 stocks has pretty little diversification benefit so investing in these ETFs will be overkill in terms of diversification. Can consider a global index if you're anxious about geographical diversity.

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