- Originally posted by showmethemoney:
All
Landtax what a rip off! This year our land tax bill reached over $10,000. This is due to the exponential increase in rate as the number and hence aggregate value of all properties held increases.
We cannot afford to hold any longer and so are forced to sell down. Sure the capital values have increased but the cashflow does not support this sort of financial impost.
Passing this cost onto tenants is a nice idea but not practical. The rents would need to rise about 25%!
If there really has to be a Land Tax then I believe it should be levied on a property by property basis, not aggregate value. I won’t be holding my breath waiting for that one.
Sometimes I think the government would prefer that we don’t provide for our own retirement.SMTM
This is another example of Robin Hood in action. Rob the “rich”to pretend to help the “poor”.
Land tax should depened on the property taxed and not on who owns it, that is robbery.
I say bring in a flat rate personal income tax whit no threshold.May God prosper you always.[biggrin]
MarcOriginally posted by wayneL:Hehe, I knew that’d wind you up.
Wayne, so are you going to put the rent up, of are you going to be a good Samaritan?
May God prosper you always.[biggrin]
Marc‘i say bring in a flat rate personal income tax’…
marc (or should i say Mr Burns) – another balanced pearl of wisdom…keep up the interesting work.
Originally posted by aussierogue:‘i say bring in a flat rate personal income tax’…
Marc (or should i say Mr Burns) – another balanced pearl of wisdom…keep up the interesting work.
My dearest Aussie, my point is this:
Land tax is supposed to tax…well LAND.So, If I own a property that is valued by the Jolly Men In The Forest at say $180,000, I will pay $720 a year.
Yet if it is you that owns the same property (and you happen to pass through the same forest), because your suit looks expensive, your carriage is well adorned and you have a few servants with you, meaning you have a bunch of properties, you would pay for that same property valued at the same $180k substantially MORE than I do. IN FACT AS MUCH AS MORE THAN 3 TIMES MORE!! = $2520 PER YEAR as a punishment for your success.So this besides being a robbery is a PERSONAL TAX and not land tax, since it depends on the PERSON that holds the property and not the land it pretends to tax.
The NSW government shows once more pathetic hypocrisy and makes the few successful pay for the less successful. Fair you say? Your opinion.
I say, let’s ALL pay land tax, on ALL properties, and we would probably only need to pay 0.1 or 0.2 cents per dollar value to achieve the same fiscal result.
But no! it must be the BAD “rich” who must cough up. After all they are the one extorting rent out of the poor tenants.
Since such is the philosophy behind any stepped taxation system, I add: let’s bring in flat rate personal tax. If that would be the case we would probably only need to pay 10 or 15% of ALL income, from $100 up, it would be fair, it would be an incentive to earn more, it would be an incentive to get off welfare, it would be a reward for success.To equate this to the image of Mr Burns, the Scrooge in the Homer Simpson cartoon, is a classic anti-value, where success is bad and poverty is a virtue, but I am sure you read that before.
May God prosper you always.[biggrin]
MarcNice discussion esp Marc1 / Wayne L respect!
Hey Marc1 I think you are spot on with your observations about the NSW Govt treating Property Investors as soft targets. Got it in one . God damn it,makes you want to get right out of NSW hey….and go …anywhere else ha ha.
And speaking of comedy ….the words of our dearly departed Rodney Dangerfield …”Comedy huh?! ..it’s in my blood ..I wish it was in my act”
Happy investing Youze All .
MLVMLV
Thank you MLV, but I don’t think getting out of NSW is the answer.
Anyway, have a nice Christmas you all.May God prosper you always.[biggrin]
Marc
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