Is our 2 party system just a con?

[facthunter]

Private homes are paid for by already taxed Money  and  NOTHING  deductible.  To retrospectively change the rules would not be taxing. it would be Confiscation of an asset  by  deception as a lot of it's  VALUE is because of Inflation, with No deductions for ANYTHING Interest rates, council rates, repairs. insurance along the way. How unfair would that Be? . Over long periods of time the dwelling becomes valueless and only the Land makes it worth anything, Many Houses just get pushed over. An empty lot would be worth More.  It costs Money to demolish and tidy up..  When you rent, you know exactly what it will cost you.  If the neighbours are from Hell you can Just Move without Paying crazy amounts of Money . If you are the kind of Person that Moves a lot, Owning a House is the One thing you Might consider NOT doing. They can tie you down and absorb all your spare  cash..  Most are Now on tiny Blocks where there is Nothing but the House and  car garage. You can't fit between the walls of your Place and next door. Ticky Tacky little boxes all in a row.. How depressing.  Nev

[octave]

3 minutes ago, facthunter said:

Private homes are paid for by already taxed Money  and  NOTHING  deductible. 

 

When I sold my 44-acre property, I had to pay CGT on everything over 5 acres.  I was, however, able to deduct the expenses of owning and maintaining this property.   I am not expressing an opinion for or against CGT on the family home, but I imagine, like my house on more than 5 acres, deductions would be allowed.

[onetrack]

And the ticky-tacky little boxes have come about via property investor greed that has pushed house prices up 700% in 3 decades. That's unsustainable, and is setting the country up for a majpr recession, perhaps even a Depression.

House prices go up 3% annually over the long-term, normally. Only in the last 3 decades has this outlandish property pricing occurred - so we need to look at what has driven that - and it's the taxation system generously favouring property investors. So Labor is now trying to address that major imbalance.

 

[facthunter]

Howard is Pretty Much solely responsible for encouraging Money into houses as the Best Investment. He also sold the People's Bank to the People. "Honest" John Has a Lot to answer for. Nev

[onetrack]

Sorry Nev, your memory is faulty today. It was Paul Keating who sold off the Commonwealth Bank - largely to the other big Australian private banks.

 

QUOTE: The Commonwealth Bank was privatised in stages under the Labor government of Prime Minister Paul Keating.

 

The sell-off process occurred in three tranches:

 

1991: The Keating government floated the initial 30% of the bank's shares to the public.

 

1993: The government sold another tranche, reducing its stake to just over 50%.

 

1996: The remaining government shareholding was fully sold off to investors, completing the privatisation.

[old man emu]

A person I know has a house or two in town that are unoccupied. Why? Because of the costs of repairing the damage that tenants cause. That is probably one of the reasons for the numbers of vacant houses.

[Marty_d]

15 minutes ago, old man emu said:

A person I know has a house or two in town that are unoccupied. Why? Because of the costs of repairing the damage that tenants cause. That is probably one of the reasons for the numbers of vacant houses.

There are many good tenants needing homes. I don't see that as a reason to leave a house unoccupied.

[old man emu]

Like everything these days. Publish a story about a horror renter and it puts the wind up a landlord. Vetting of potential tenants is a pretty terrifying process for a tenant needing a home.