So its official. The NSW government has introduced tax ‘reforms’ that I am literally shocked & severely pissed off by. Although I’m in Melbourne, I’m very concerned it will be brought in here too (on top of the proposed changes to depreciation laws) & to be honest I feel strongly for you guys in NSW.
To strip away the crap, wasn’t the GST meant to get rid of all ‘hidden’ & ‘extra’ taxes?????? So why is this even an issue???? (Why do we have State Governments at all – cause gutless people couldn’t handle change; but thats a discussion for another time…….)
As Steve McKnight pointed out will the NSW govt refund on losses, where property on-sells for under purchase price??!!!! Yes its a stupid question & highlights their hypocrisy, but don’t state & federal governments do that exact same thing for farmers during/after a drought? Don’t they regularly do this in spite of the fact that there is over 200 years of historical evidence that Australia is a boom/bust environment? I don’t see the difference between farming as a small business & property investing as a small business. Yet one gets the hand-out & the other gets stung. Why? Cause some people with an ounce of intelligence realise that there may be more profitability in the long term in one business over another?? I wonder when, say, the caravan building industry becomes highly profitable, the govt decides to tax that, then software encryption does the same & then (insert future profitable industry here) becomes profitable & so on….you get the picture.
“…Aw but me father was a farmer & me father’s father was a farmer, etc, etc, etc, blah, blah, blah & its in me blood ya know…” Maybe farmers are smart pricks after all. They know they’ve always got a powerful lobby group & the safety net of free government insurance…..I understand wy the NSW gov. decided not to tax farmers. Can you imagine the land tax the would pay??? Yes so you have XXXX miles so weve decided to tax you 3.2 million. Thanks.
Considring how large farms have to be to be profitable and how it basically puts otherwise vacant land to use (in alot of cases), and how it reduces our balance of payments (imports Vrs. exports) I don’t mind tbat it dosen’t affect farmers at all. And even if they did try to tax the farmers I can see the Fed Gov. comming down real hard.
The more exemptions there are, the more loop holes we can find. We want porus legislation!!!
Rgds.
Lucifer_auPlant as many Olive trees as you can in your yard and become a Tax haven Olive plantation..LOL.. Not a very good situation for Investors there..[baaa]
is it 2.5 % on sale of property ? Dont sell..?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
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