Geld 1
13-04-2004, 04:19 PM
Just writing to enquire what the general view about the new Land Tax and Stamp Duty on Sale of an IP in NSW is?
I have a couple of IP's in NSW and though I'll be hanging on for the long term I can't honestly say I'm happy about this current state governments performance.
Here we have them at it again finding everyway they can to tax those of us that wish to get ahead to subsidise those of us who for what ever reason have our hands out.
Lets put it into perspective. An average IP in Sydney costs around $300 K (looking at a combination of units and houses)
Interest approx $20000.00 Rates/Agent/Insurance etc $4000.00
And with a rental returns of say $12000.00.... Basically these tenants are already being susidised by about $12000.00 a year or $1000 a month.
Yeh sure we get a Tax break...(until Lathem gets in) but I thought I was doing this to MAKE MONEY... not give somebody else somewhere cheap to live.
And now some new taxes... With our rail system shot to bits, our hospitals a pathetic mess and our schools in decay... I think its time we all woke up and started raising rents... SERIOUSLY. Because this is not a Land Tax... It's a rent tax.
I mean compared to Perth where I have another IP... Sydney rents are too cheap.
Well thats my opinion and was wondering what other people's views are.
Regards - G
I have a couple of IP's in NSW and though I'll be hanging on for the long term I can't honestly say I'm happy about this current state governments performance.
Here we have them at it again finding everyway they can to tax those of us that wish to get ahead to subsidise those of us who for what ever reason have our hands out.
Lets put it into perspective. An average IP in Sydney costs around $300 K (looking at a combination of units and houses)
Interest approx $20000.00 Rates/Agent/Insurance etc $4000.00
And with a rental returns of say $12000.00.... Basically these tenants are already being susidised by about $12000.00 a year or $1000 a month.
Yeh sure we get a Tax break...(until Lathem gets in) but I thought I was doing this to MAKE MONEY... not give somebody else somewhere cheap to live.
And now some new taxes... With our rail system shot to bits, our hospitals a pathetic mess and our schools in decay... I think its time we all woke up and started raising rents... SERIOUSLY. Because this is not a Land Tax... It's a rent tax.
I mean compared to Perth where I have another IP... Sydney rents are too cheap.
Well thats my opinion and was wondering what other people's views are.
Regards - G