Yes, I made a post explaining all of this sometime last week. If you buy in WA, you will have a similar problem. This only occurs where you cross colateralise, though.

We had to fork out an extra couple of thousand because of the extra stamp duty on mortage for our QLD IP.

I will try and find my older post so you can check out the links.

‘Eat…[Read more]

Originally posted by Jerzy Balowski:
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.

Jerzy

The difference is that we voted the Coalition in on the GST, we were all fully aware of the fact that it was going to be brought…[Read more]

I’ve ranted and raved on a previous similar post so I will refrain here.

I am about to exchange on a property in regional NSW and one in WA. The WA property looks mighty fine at the present.

Knowing how greedy both the WA and QLD state governments are, I dare say it will spread in time.

‘Eat rich food, barbeque a yuppie’ [greedy]

Perhaps if you venture to Forum Frolic you can see that jokes are a plenty.

https://www.propertyinvesting.com/forum/forum.asp?FORUM_ID=10

Go for it, we need a laugh at the moment – well in NSW anyway!

‘Eat rich food, barbeque a yuppie’ [greedy]

Westan

I’ve been very quiet here too since the Aussie Super 12 teams have not been doing to well.

Hope you have fun, it looks bloody cold over there now.

‘Eat rich food, barbeque a yuppie’ [greedy]

For an IP or if it is not our first home, we pay both ends.

‘Eat rich food, barbeque a yuppie’ [greedy]

Hey Sath,

Check out

https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=9122

We have been discussing its merits and flaws since it was announced.

‘Eat rich food, barbeque a yuppie’ [greedy]

I’m hoping in the short term it means some quick fire sales. I have been trying to negotiate for a property for about 6 weeks. This may help it over the line for me.

In regards to increasing costs, it will surely make sellers rethink their prices but wether they get the extra 2% they want is a different story.

‘Eat rich food, barbeque a yuppie’ [greedy]

Originally posted by MiniMogul:
sorry, mistyped. I meant the other way around. 600 equity.

Also you misquoted me!!! Grrrr…. I wrote, “I know TO someone who has a house they bought in Sydney in 1991 which is now worth 850K a…..controlling a mill worth of property doesn’t sound like a big deal”, not ‘I know someone who has a blah blah’. Leaving…[Read more]

Mini

“I agree with Kaye Henry – a property millionaire is EQUITY based and can be no other – 1 mill property and 1 mill debt = 0”

Now comes the $1 million dollar question. Does that include your PPoR? If so, then it means many in Sydney are property millionaires.

If it doesn’t, then are those who do not own their own home (renting) but have…[Read more]

There could be some forced sales in the next few weeks, if people have to pay stamp duty on sales in NSW.

I reckon it could be a good way to negotiate. The vendor will have to pay the tax unless they sell it quickly.

The only downside is it will probably mean land tax for the purchaser.

‘Eat rich food, barbeque a yuppie’ [greedy]

I’m going to try to get the topic back on course here.

As I think this can be a very balanced forum sometimes with views ranging from close to socialism to far right wingers, I would like to know if anyone can explain to me the benefits of the stamp duty/land tax changes of this mini budget.

I am horrified with what will be brought due to the…[Read more]

Thank you but I had already checked it out and am horrified.

It means if you buy an investment property in Sydney you are more than likely up for:

When you buy

1. Stamp Duty (NSW Gov)
2. Land Tax (NSW Gov)
3. Stamp Duty on Mortgage (NSW Gov)

When you sell

1. Stamp Duty (NSW Gov)
2. Capital Cains Tax (Fed Gov)

Where are the incentives to…[Read more]

This sounds like the biggest rort in years. Where does the NSW state gov get off increasing the taxation of people who are just trying to create wealth for their retirement.

I sincerely hope it is a bad joke otherwise I feel there will be alot of agro coming up very soon. I would suggest that maybe 35 – 40% of houses in Sydney are over 500,000.…[Read more]

Originally posted by Aceyducey:
Rugbyfan – think about your own response – did you over-reactive to what is a constructive suggestion

Cheers,

Aceyducey

Umm…Well Acey, below is what you wrote in the opening post word for word. Exactly what part of it is constructive suggestion?

Why is the ‘Tell Us What You Think’ Forum closed?

Don’t want…[Read more]

OK. well I’ll see your [whip] and raise you a [smash]!

I’m off to bed now. Gotta get my ugly sleep![sleepyanim]

‘Eat rich food, barbeque a yuppie’ [greedy]

[quoteI write this post in the best possible tone, and my apologies if that doesnt translate in the reading.. but why are we united in our stand against some “spruikers” and apologists for others?

Jay.
[/quote]

Good comments Jay but who’s united in standing against or for these ‘spruikers’.

I for one form my own opinions on property guru’s and…[Read more]

Oldtimer

If you’re correct and TT does take that line of approach I guess Steve has two options.

1. Keep going with the interviews on TT
2. Refuse to be interviewed.

If it goes ahead as you stated, he will unfortunately be ‘damned if he does and damned if he doesn’t’

I hope that journalistic integrity holds up and the real truths are…[Read more]

Kay and Cel,

This is going so [offtopic] it’s not [laughing] anymore.

Everyone stop [], have a [cigar] and [love].

‘Eat rich food, barbeque a yuppie’ [greedy]

NO not really although I know some good ones and bad ones.

I am really interested in Body Corpoarte Managers though.

I have looked into this career and see it as hard work that could pay off. I know what the BCM’s are like looking after our properties! I reckon that a lot of theor practises could be improved on.

‘Eat rich food, barbeque a…[Read more]