Mate I can't speak for BC, but the govt. get more out of me than the average Aussie (in fact the average few aussies), believe me. They don't however get it from my personal tax return.
Recession Cancelled.
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- recssion cancelled
Mate I can't speak for BC, but the govt. get more out of me than the average Aussie (in fact the average few aussies), believe me. They don't however get it from my personal tax return.
Do tell. How?
Recession cancelled?........or possibly deferred.
Apparently there is a second tranche of mortgage re-sets to come out of the US in 2010 and 2011. Whilst interest rates may have fallen, assuming that most of the re-sets default to the rate of the day (which is low at present), with values still upside down for most US property, they'll be caught out with fat LVR's and if they cannot cash inject, there may be another wave of fire sales.
Certainly we don't follow every move they make, however Oz isn't totally free of the US apron strings either. There may still be some effect here, in a generic sense; as there are some strong markets/sectors in Aus and some not so strong.
Not sure about 2010-11 but hopefully the US housing market is stabilising?
Fingers crossed
http://www.reuters.com/article/ousiv/idUSN2754905920090602
Well that's good then. We've all gotta do our bit for the country!
I found a chart online that was alluded to by Mike Maloney (one of the Rich Dad speakers last weekend):
http://www.nakedhedgefund.com/wp-content/uploads/2009/04/imfresets.jpg
Whilst the bulk of the ensuing resets are not subprime, he considers we are in the eye of the storm.
Even if those with loans can service the debt (assuming they haven't lost jobs) I am still unsure of how LVR's may play out.
Whilst our housing market and supply demand issues are different, there may still be some white wash here to our economy and money/credit supply.
fines, GST revenue, land tax, car registration, wholesale tax, fuel excise, import duty, stamp duty, capital gains tax, fringe benefits tax - shall i go on? hell, there's even a death duty now, so death and taxes really DO go hand in hand.
so what if my income tax was lower than most? i like to brag about it - and i don't care if anyone think i'm an arrogant fk because of it. so many people have asked me how because of it - and i tell them willingly. others just whinge and sulk to find someone else to talk to. bit of tall poppy syndrome? instead of whinging, why not find out how and you too can take advantage of the system that is there to LEGALLY minimise income tax - because you can't dodge the rest of it.
the system is DESIGNED for people who work for themselves - anyone here working for a PAYG income is paying WAY TOO MUCH tax - period - hence negative gearing - at least get SOMETHING out of it.
one example
buying multiple properties in your own personal name, per state, will incur land tax. you can either get around this by buying one property, in your own name, per state, or buy 4 in one, 4 in another, 7 in another by buying each one in a seperate trust structure with you as trustee and guarantor - no land tax, and if you sell, you still have to pay CGT either-which-way - but you never sell, and never pay tax. yay!
Markets do care a lot about these data and the AU$ was greatly effected.
Anhow, GDP data should take count of exchange rates and pretty much everything else, the import data is quite odd in my opinion with the AU$ soo low in the first quarter and import dropped 7%
well, should be clear by now as also WW was point out several time about the problem of australian foreign debt. The fate of the AU$ is definetly not in the hand of Australia or RBA
Anyhow I see the AU more in a bubble now and last year then during the GFC, I think things would change if China will unpeg the currency with the US$ (I think they'll have to do it and send the US$ to the gravel if commodity will keep rising)
Well, you have be carefull, you never know if NR is a good friend of the chinese government that alone can easily send the AU$ to 35 cent and the ASX to 2200
I was really suprised to hear the import figures, but remember we are looking at the March quarter. I think the June quarter will be different becasue of the AUS$ and End of Financial year.
I've changed my opinion on the so-called bubble in the lower end of the market. I am happy to admit that I may be actually wrong and this market may now stabilise.
We may see cashed up mum and dad's with steady jobs/income coming into the market and buying in the middle range. There are some great bargains. All this can do is give RP Data a higher median. The slow in sales to FHOB won't affect this.
It is this next July-Sept quarter that will show the real proof in the pudding.
Regards JO
yes; totally with ya, BC.
We all pay tax; directly or indirectly, and in my case, don't use my fair share of "services" provided by the Gubmint.
No sleep lost here for minimising tax - it's legal, and the Gubmint allow it with their blessing.
The more tax I minimise, the more I can contribute back to the Country through employing more people, spending (GST) etc.
Well, today's trade figure for april are already surprising on the negative side with a -0.08 bil$ (expected +1.70 bil$) march figure was revised down from +2.5 bil$ to +2.3 bil$. Seems the new Iron ore price setting is kicking in...
bloomberg
so, seems the first quarter trade and GDP was a kind of "seasonal effect" related to the low AU$ and old prices fixed to the US$.
so much more to it than just Income Tax - taxes absorb nearly 72% of all money...so what if mine is now 50% - i have all the PAYG "suckers" to fill the gap.
spot on - same here. banks know what you're doing because they do it too - how DO you afford that $300k IP + living expenses with zero declared income....? hmmmm.....
Quite agree with you Bluecard, but then you have a businessman's mentality, and what does any good businessman do: control expenses to improve the bottom line. Tax is an expense just like any other, in fact for many its their major expense item.
But so many people just meekly whinge accept the payment of it. I could never understand my professional office friends on salaries of $150k+, who are more concerned about where their next short term holiday destination is, the the amount of tax they are paying (again they whinge about it, but they do nothing pro-active to minimise it).
But so many people just meekly whinge accept the payment of it. I could never understand my professional office friends on salaries of $150k+, who are more concerned about where their next short term holiday destination is, the the amount of tax they are paying (again they whinge about it, but they do nothing pro-active to minimise it).
I thought that in some states at least (NSW & VIC), property purchased in a trust structure has a zero land tax threshold, so splitting across multiple trusts doesn't help.
GP
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