rebel wilson and geoffrey rush probably came out on top
definitely no politicians though
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As in they dont go hard enough?
I think the Premier in SA is very likeable. Seems pragmatic, relatable and a doer.
He is pretty good in many areas but his core promise was to fix the ramping and instead itâs in rose shape than ever. Itâs all well and good attracting sporting events but the health system here has been stuffed for years and people a have had enough. It would be nice if the opposition wasnât a complete rabble and could take him to task over it at least but with the mess they are in he has free reign
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Quite the opposite.
Linda Reynolds has taken the opportunity of her own defamation proceedings to take a swipe at the character of DreyfusâŚ
For the benefit of those not in VIC, what are those tax rules?
What is wrong with it ?
You pay 1% of the residential land value as a land tax if there is nothing being constructed or no renovations. Seems fair to me.
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I mean some people enter contracts that stipulate construction must start within 2-3 years of the settlement, and you drive around those estates and theres a lot of vacant lots still 4 years on.
Theyâre essentially taxing you for not making an income stream. That is straight up unfair, and illogical.
Havenât rented out your property for more than six months of the year? Taxed.
Oh, youâve only stayed for 21 days this year at your own property? Taxed.
Done it two years in a row? Double the tax to 2 percent.
Three years in a row? Triple the tax to 3 percent.
And those percentages are now of the âcapital improvedâ estimate, even if itâs an empty block with no improvements made.
Itâs disgusting that a government can dictate to you via financial penalties how, and how often , you use the property that you very likely paid a large amount of stamp duty on at time of purchase. If you rent it out and earn money from it, fine, tax that income. If you sell it, fine, tax the capital gains. But I find it disgraceful that they have assumed the right to tax a non income stream just becauseâŚwhy? On top of that, youâre already paying the normal land tax. And rates etc. it just isnât right.
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Itâs a weird one, and doesnât rub me up the right way either. Iâm really guessing but possibly a deterrent for investors sitting on estate blocks waiting for them to appreciate with the âblossomingâ of the area? Probably not sufficient for that though.
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I donât know the impact or the finer details.
But itâs certainly got the boomers I know with a holiday house (which they use heaps) very concerned. To the point the will sell it so they donât get slugged.
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Like anything there would be plenty of ways around it. The smart ones will game the system
itâs also ironic that the right wingers who are the champions of free speech , until they are the ones who always seem to be hurt by words
Thereâs a holiday home exemption, pretty easy to meet that, properly or not.
Otherwise it looks like itâs trying to encourage people to rent it out to reduce shortages. So they donât sit on vacant land or empty homes.
due to israel palestine stuff - protests etc
If the fair solution to a tax for typically honest people is to do a âdodgyâ then the merits of the tax are severely dubious. And again, do we seriously agree to the premise that any Government should be allowed to mandate how often someone visits their own property!? Absurd, imo. And a dangerous precedent.
More broadly , what probably annoys me most is that we have gigantic companies juggling the books to show little to no income and avoid taxation despite bringing in billions.
But Mr and Mrs Green , who have purchased / inherited / subdivided / whatever a nice block on the outskirts of a small regional town with dreams of building and retiring to it in 15-20 years are going to pay , say, $15k per year on something that legitimately hasnât earnt them a cent of disposable income.
Oh, ok, then weâll put a caravan on it and stay in it for five weeks per year to get the exemption. Nup, the State Revenue Office has decreed that caravans and non permanent accommodation donât qualify for the holiday exemption. So , youâll pay land tax. And youâll pay Vacant property tax. And youâll pay stamp duty when you buy. And if we can force you to sell, youâll pay capital gains. And oh look, what a nice outcome that whoever then buys it will also pay us stamp duty. Enjoy your property ownership, folks. Thatâs who we are punishing with this one? FFS.
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Letâs face itâŚ
The Victorian government has raided the state coffers and is now scrambling around to tax any basic human activity to balance the books. Actually thatâs incorrect, theyâre not trying to balance the books, just slow down the progress towards the debt crisisâŚ
Meanwhile, the federal government is approving massive immigration numbers, sending rents verticalâŚthe natives are getting restlessâŚso all layers of government have been tasked with putting out unachievable âsupplyâ policy smoke-screens as cover for their demand-driven problemsâŚ
Underutilised properties in Victoria are at the intersection of these storms.
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You obviously have a personal situation in mind. Otherwise that is a very limited example.
If you are subdiving you have a choice, can do it later. If you have inherited, you are likely doing pretty well. If you have purchased, what about the people who missed out on that property and they need it now.
The most worried would be people with an existing holiday home, and with that exemption, donât reckon they will be going too hard on those.
They would be going after non residents or people with multiple properties that arenât using them.
Would you really have that much sympathy for someone living overseas with an empty home here or someone here with 4 properties, two sitting vacant? Now itâs probably not a massive take either, but anything that makes them pay up, is fine by me.
Completely agree on the corporations point, but thatâs a separate discussion.
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I donât have a problem with people leaving their own properties vacant, no. Iâd make sure they canât negative gear them for a tax break - now thereâs a real discussion that needs to be had - , but again, I do not agree with taxing people on non existent income.
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