The whole country has been badly let down by the current government and prevous governments for many years. And everyone has let them get away with it.
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I wonder if I’m the only one that’s noticed over the years,that the Oz footy forum seems to contain a few possible biological twins 
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One set of lying incompetents replaced by another!
Why I vote Independent,who had to deal with the Lying,Dirty Tricks at Election time!
Thankfully our Electorate saw right through the desperate BS of the Major Parties and put ‘em in their place!
You still get the odd mouthpiece bobbing up unfortunately,who can’t move on!
You’re not wrong i always thought you and AM are the same person.
. Stop it your making me double…. Over
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Unlike a few here SMTM,I’ve never been barred which must mean most of my comments must be politically correct,which is why the previous owner of this site,had the foresight to appoint me moderator
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mmm remember it well. 
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This like is something like giving myself a pat on the back
. Well would in a couple of cases.
Suspension - 1 month
Do not attempt to make another one
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The thing I look at having worked in the construction industry all my life is the neg gearing thing. I have said for many years that NG was wrongly targeted. Allowing it on established homes does nothing to create new housing stock, by allowing it on new builds only will push investors towards those new builds. You don’t have to build yourself just invest in a new never lived in property and you get the benefit of NG and support more new builds, it ain’t rocket science. I’m no great supporter of either side but this particular NG policy will incentivise investors to buy new rather than established, the more new stock, the more rentals available and rents will stabilise and eventually drop. Just my thoughts.
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Ive got a massive problem with a lie as big as this one, this is a massive change in tax and ivestiment planning for at least 2.5 million tax payers and that is before the CGT changes to non property areas…people voted on the undertanding and promise this would not happen, it was dead and buried ended up identical to Shortens policy only worse, that he lost an election …they didnt have the guts to take it to an election and infact were utterly deceptive about it..meaning people invested on that basis.
Lets be honest they always had the intetion to do it just lied and waited out the years and a weak opposition period.
Well the good thing is they have breathed life into a dead LNP…they might have a crack now as this was clearly toxic policy they were to gutless to run at the election.
There are problems all round with this policy, Landlords will start unloading property to avoid the new CGT hit ( the 30% minimum tax is a big one to avoid ) …the tenanst will be out on the street as Landlords will be avoiding Establish Property like a plague now as the tax it to high now, meaning the large pool of tenants will be finding it harder and more expensive to rent and most cannot get a mortgage.
Then there is a new build BS, wait 2 years for a place to be built, with material and trades shortages, just so you can negative gear, some joint on the fringe of the city no tenant really wants, and the worst is when you sell, the tax adantage goes up in a puff of smoke to the next owner - out goes the tenant and down goes the value.
All this while they reveal their immigrant intake was 55,000 out and are importing 990,000 new people who all need instant houses, we all know the supply wil never meet demand, its a demand driven market being smashed by huge intakes.
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What are you on about Howard took the GST to an election.
Shorten took this to an election and got towelled up, no wonder they lied and they sure do not have a mandate for it.
I would suggest it is a lot worse, as this directly impacts people’s personal income tax and finance planning, many people made investments based on what was promised.
How can you run an economy financial with that blatant deception.
It would never be lifted, but it was.
.yeah right.
Your busy today.
Your not reader etc etc c18 on Crikey by any chance?
It’s such a complicated issue, but removing Negative Gearing on established properties isn’t the short or long term solution. Hawke Keating abolished it in the 80s and it failed miserably. NZ did it more recently, another abject failure.
The property market needs investors for established and new builds, but their is a shortage of land available for new developments, particularly in high demand areas near the coast or city. Councils and NIMBY rate payers are reluctant at best to rezone and create higher density housing in these areas and people aren’t always keen to live towards Yanchep or Mandurah.
And then there’s the labour market, we don’t have enough trades to support a new housing boom. Nor do have enough teachers or nurses to support the recent and future population growth.
How many young people can’t afford to purchase their first home and move into it so rent it out and negative gear it initially. How many trades, nurses, police etc, those who Labor apparently look after have an investment property to try climb the wealth ladder and/or invest in shares for the same reason?
Why change the CGT rules on shares, that’s not going to fix the housing market issues for the younger generation, if anything it hinders their ability to get into the market.
And it doesn’t help the self funded retirees either who used property investment as part of their retirement planning.
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Correct Tiger, I dont think people have come to grasps on jus how massive a change this budget is and the huge repercussions it sends across the entire economy. As you say CGT has changed wholesale on all asset classes which unless your a super fund you get hit. We are now the higest capital gains taxing nation in the world as well as having the most out of date heavily burdened PAYE tax and most inefficient GST in the OECD.
Some nasty shocks hidden in there are 30% Minimum CGT, that never existed before, so you can be earning nothing and still get hit with the higher tax bracket regardless, outright theft.
Then there’s the captures of pre 1985 assets, remember we had no CGT prior to 1985 and for 126 years since Federation they have remained exempt, not now, the long arm of the tax man reaches back in time and captures them from 1 July next year basically a retrospective tax.
What are you on about - its been 10% since introduction.