Beer coaster calc

[LibGS]

1 normal IP
3 NRAS IPs
1 NRAS IP which I paid a deposit on today in fact. (I call this 0.5)

And another NRAS IP coming later this year.

 

[BayView]

1 normal IP
3 NRAS IPs
1 NRAS IP which I paid a deposit on today in fact. (I call this 0.5)

And another NRAS IP coming later this year.

Fantastic result, Lib.

Might I add; even the "normal" IP is a social purpose - providing housing for those who are not able to be in a purchased property at the time.

This is often the aspect of PI (that folks who aren't doing it and criticise us) - even though we are LL's and get the returns and deductions etc; at the end of the day we are also providing a much needed service to the Community - housing.

 

[Bhp19]

Fantastic result, Lib.

Might I add; even the "normal" IP is a social purpose - providing housing for those who are not able to be in a purchased property at the time.

This is often the aspect of PI (that folks who aren't doing it and criticise us) - even though we are LL's and get the returns and deductions etc; at the end of the day we are also providing a much needed service to the Community - housing.

I understand the idea of what you're putting forward here but I doubt this is the reason anyone buys an IP, even NRAS.

 

[BayView]

I understand the idea of what you're putting forward here but I doubt this is the reason anyone buys an IP, even NRAS.

Actually; you may be surprised.

I am a capitalist pig, and my main motivation is to make obscene amounts of money so I never have to work again, then spend all my time playing golf, sailing, travel, family, etc - but also give time and money to those in need such as homeless youth etc.

But; I also have a portion of my brain that is reserved for feeling good about myself that I am providing housing for those who need it.

I have been one of those needing housing folks from time to time, and many of my tenants have been that - so it warms the heart to do the same for others.

Pity I have been such a failure at it..

It really shoits me though when you do all this, take on the risk, all the work and time - and the tenant shoits in your face by doing a runner, causing damage and not declaring it, etc (has happened a couple of times).

 

[Bhp19]

I still don't think it's the reason people buy IP's, yeah it might make some feel warm and fuzzy if they feel they're doing a community service but at the end of the day, if it wasn't going to make the investor money I don't believe they'd do it.

 

[Angel]

There is nothing immoral about being a landlord. We are not Public Enemy No1 even though some in the community would like to paint us as such, particularly those who rely on the service we provide to them (Rolls eyes).

 

[perthguy]

My beer coaster calc is that given all of the above, how on earth can the deficit ever be decreased or wiped out with current conditions?

There is a structural deficit with the budget that has been around since at least Howard's fourth term. How to address? Cut spending and increase revenue.

Increasing revenue means overhauling the tax system and to do that you need political will and political capital. It appears this government has neither. One example is superannuation tax concessions that cost $35 billion a year in revenue foregone. This could be reviewed, but it would be unpopular.

The problem with governments since Rudd is that they have been fixated on the weekly polling cycles and are dead scared to touch anything that would poll badly. The issue is that tax reform is never going to poll well.

I think this article sums it up pretty well: Tackling tax taboos: the reform process the government doesn't want to have

http://www.smh.com.au/business/tack...ment-doesnt-want-to-have-20150206-1377e7.html

 

[perthguy]

We have 1 trillion reasons to address this problem according to Pricewaterhouse Coopers.

http://www.dailytelegraph.com.au/ne...illion-nightmare/story-fnpn0zn5-1227217818739

 

[LibGS]

This recent report from PwC is also scary. This emphasises that we totally need to change direction. We can't just reform industrial relations, cut spending and increase taxes.

World in 2050

Australia will slip from 19th place in 2014 to 29th of the largest economies in the world in 2050.

Two years after the last update in January 2013, today's 'World in 2050' extends coverage to include eight additional countries, six who will have surpassed Australia by 2050: Bangladesh, Egypt, Iran, Pakistan, Philippines and Thailand.

Australia must focus on transitioning out of the mining economy or face falling out of the G20, PwC Australia Economics Partner, Jeremy Thorpe said while releasing the 'World in 2050' report.

"Business, government and community leaders must plan for the long term and prevent us slipping down the ranks," Mr Thorpe said.

"Australia must diversify its economy by investing in highly skilled workers and become the knowledge nation to stop us slipping out of the top 20 economies."