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  • Profile photo of ratherBfishnratherBfishn
    Member
    @ratherbfishn
    Join Date: 2005
    Post Count: 5

    The Governments Land Tax Policy, is just another obvious sign the current State Government is arrogant and in need of ousting.

    To justify some of the Land Tax increases, by repeated comments that, “Victoria still has one of the lowest LT % in the country” is just another way of proving their arrogance.

    Could they chane the legislation? Of course they could, but like everything else, the people need to stand up and say enough is enough.

    Just because my property has increased in value, doesn’t mean i have extra cash on hand, to get that cash, i have to sell the property, and who will by it if the LTB is $2000 a week?

    It’s a joke that we as a society must change, revenue from LT doesn’t keep the economy moving, it will in fact create more debt, less small businesses, less jobs, etc.

    It’s high time the Mirror Man had a good look at himself and his policies, before the next State election, only a fair and just system of LT should be accepted by Victorians, anything else just wont do.

    We should be organising mass rally’s in protest at this, and show support for the business owners that are being victimised by this Governments short sighted grab for cash, and it’s one sided view of democracy…..

    Profile photo of ratherBfishnratherBfishn
    Member
    @ratherbfishn
    Join Date: 2005
    Post Count: 5

    Thanks all for your replies.

    I am managing my repayments well enough to avoid any chance of my ppr becoming anyone elses bargain.
    I have 100% equity in the portland property,last offer was $160,000, and no i wont be selling, i have approx, $40-$50k equity in this house.

    I will be fixing the portland property to rental standard in about a months time, big thanks to my brother for the no interest loan [thumbsupanim] That will assist me re-pay the loan, and subsidise my re-payments here.

    So glad to have not been in need of some knee re-adjustments, thanks again.

    I will wait for this place to increase in value, hopefully to get equity to around $70-$80k, then take things from there.

    I’m trying to figure out all this property inveting stuff, and as a newbie, will surely make mistakes along the way, that’s life.

    Again many thanks to all who replied,

    cheers.RBF

    Profile photo of ratherBfishnratherBfishn
    Member
    @ratherbfishn
    Join Date: 2005
    Post Count: 5

    Thanks for the reply mk2r, It’s not rented because it has no stove, sink, and needs a hot water service.

    It is my ip, and this house here in melb, is my ppr,i can only make this loan interest only if i am paid up with my loan, so it makes it hard to get in front with the high re-payments.

    I dont really want to sell in Portland , and can proberbly borrow the funds to do the repairs from my brother. This will put it on the rental market and reduce my payments here.

    My question is, how can i position myself better to purchase another property to attain more wealth in the future, when i am having trouble meeting my committments now.

    Or should i be happy with what i have got and accept my limitations.

    Thanks…..

Viewing 3 posts - 1 through 3 (of 3 total)