|How many votes do you think this would have cost Bob Carr ? All the voting public would have seen, was a bunch of property investors crying poor.|
Jerzy,
Don’t let your political persuasions get in the way of fairness.40% of all NSW property buyers are investors – a significant amount I would say – compared with only 11% first home buyers – and a fair percentage of these are buyers of property over $500000 in NSW, so exempt from any gain from the new deal.
I agree completely with Steve Mc – this new stamp duty tax is fundamentally wrong. I have paid this Government a lot of money in stamp duty over the last two years buying three investment properties and a new ppor. I am not rich – I bought the investments from equity in my home – as a long term strategy for retirement. These properties are only just viable and to think I’ll have to pay more tax when I do eventually sell is disgusting. What has the Govt done with the huge surplus of money from stamp duty during the boom last few years? I have no confidence that they will do any better with this “extra” tax. Having been told that baby boomers will have to fund their own retirement, what incentive is this?

I will never vote labour again – and this includes the Federal Govt – who do have elections this year – maybe if we could put some pressure on them, Bob Carr may think twice.
Make your voices heard – don’t let them get away with it!!! ENOUGH IS ENOUGH !!!

Tegan

Please read slowly Tegan.

Nowhere did I state that I agree with the new stamp duty rules !!!

Nowhere did I state my political persuasions, unlike yourself!!!

If you had read my complete reply, rather than the first couple of paragraphs, you would have seen that I had given both major parties a serve. And for good measure even the Democrats. What part of that is being misconstrued to somehow indicate to yourself who I support politically ?
It seems that I have upset some members of the Liberal Party Glee Club, as they are the only ones who seem to go feral at the mere mention of anything negative towards their political heroes.
Whose political persuasion is being dragged to the surface then, eh ??

I also agree with Steve, and (almost) everyone else in this forum regarding this topic. We are taxed to the hilt. These Stamp Duty changes are wrong, as is the GST, and there is sweet bugger all, anything you or I can do about it.

To quote Dennis Denuto, as others in this forum have, the vibe of my reply was to get things into perspective, and wait for the dust to settle, then see what inevitable opportunities arise from these changes. Dont look at problems find solutions. If that is bad advice, then dont take it.

P.S. If you choose not to take that advice, and rush off to quickly unload any of your properties, please let me know, as I’m always on the lookout for a bargain.

You’re only half right Rah Rah.
No one was completely certain that the GST was going to be brought in, as it still had to pass the Senate. Sure, the Tories, went into the 1998 election, proposing to implement the GST, but they only did so, with the comfort of a huge majority, courtesy of the 1996 election. This was the only scenario that such a rotten piece of taxation reform, could have been proposed by any government. Remember John Hewson ? He proposed a GST, and lost the unlosable election, complete with 15% interest rates, and a very unpopular PM.
And of course, what happened in 1998, is that Howard came within a bees knob of becoming a one term PM. It is common knowledge that this government actually received less than 50% of the vote ! So it seems that the majority of the people actually were not in favour of a GST, and it is only due to the vagaries of our voting system that brought the Howard government a second term.

As for the implementation of the GST, you can thank the treacherous Meg Lees, for that. I’m not nearly as dirty on the Tories for actually delivering what they had said they would, as I am on the then Leader of the Democrats, who most thought, would keep the bastards honest. Well, Meg Lee’s is now an independant, the Democrats are on life support because of this, we have a GST that affects every Australian, and the ones who must feel the most deceived are the people who could not bring themselves to vote for the GST, and could not bring themselves to vote for the ALP, therefore, casting their vote to the Dems, in the false hope that they would save the day.

As for this new Stamp Duty overhall, of course it stinks. Bob Carr has shifted the goal posts. But do you really think that if this policy was in front of the people of NSW at the last election, that it would have cost the ALP government ??
How many votes do you think this would have cost Bob Carr ? All the voting public would have seen, was a bunch of property investors crying poor. Just this scenario, would have guaranteed more votes for the ALP, than it would have cost.

Ultimately, I strongly disagree with this Stamp Duty overhall, as a property investor. But lets get things into perspective. There are far worse things to be concerned about in life, and property investing. After the dust settles, I’m certain that there are going to be as many (if not more) positives come out of this than negatives. The same can not be said about the GST.

You’re absolutely right Steve, we are taxed to the hilt in this country, and you have the Tories in Canberra to thank for that. Little johnny is the one who gave us the non core promise of never ever a GST. This is an insidious tax that affects EVERY Australian, unlike this revamp of NSW Stamp Duty.

The notion that the GST was supposed to phase out Stamp Duty (and a whole lot of other nasty taxes, including a major reduction in income tax – whatever happened to that ?) was just another con, promised by Costello just to sell the bloody thing in the first place. He was never in a position to make such a claim, and if anyone believed this, then whose fault is it ???

As for the pay when you buy, pay when you sell outcome, well, so what. If you dont sell, you dont pay at the end, and if you do sell, its just another expense that will be written off the capital gain at the end isn’t it ?

It seems to me, that Bob Carr’s getting a bit of his own back off Howard. Its ironic really. Howard rips off NSW GST payers to subsidise the barnyard bullies in the other states, therefore Carr raises taxes, that can be claimed as an expense through the Federal government.

Clever !!! Sly, but Clever.