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Joined 3 years ago
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Cake day: March 4th, 2024

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  • I used to work in a whiskey bar and the amount of times women would come in and get all upset because “whisky makes me depressed” and “gin makes me sleepy”, “why do you only have one vodka?”.

    Bitch. It’s fucking ethanol. The only difference is the flavour. Drink the one vodka we have or go to a different bar. It’s a whisky bar.

    Yes, I understand the joke in the op, I’m just easily triggered and have hospitality related PTSD.



  • I’ve never had the opportunity to own a home so idk the ins and outs of it all, but at the rate the property prices are growing I assume it’s profitable at sale time. Houses are the investment to have in Australia, and the government is doing everything it can to prop up the value of the investments.

    A quick look at the tax office info tells me you have to pay capital gains tax on property you have used as a rental, but it’s discounted by 50% if you owned it more than 12 months, and can be offset by capital losses - in this case your negative income from the rent can offset a good chunk, if not all of it. And as far as I can find CGT is the extra fee for selling a house you never occupied.


  • I think they’re banking on the fact that property prices continue to rise at exponential rates, while taking advantage of negative gearing - which is a big contributor to the housing crisis.

    Essentially, operating a rental at a negative income rate allows you to offset the “loss” against other tax obligations like your income. So they’re probably breaking even, or at least saving taxes/paying zero taxes, and the house will be able to be sold for a huge profit in a couple years. Labor (our major left wing party - more like centre right these days) lost the election pretty hard a few years ago when they tried to end negative gearing. It was the talking point of the right back then and it worked because all the boomers and well off have investment homes.