Urgent: EVERY landlord will be affected

[virgo]

Hiya

Read this report....i dread if this bill goes through and EVERY council jumps on to increase rates(

http://spionline.com.au/blog/latest...s-lose-big-time-with-inflated-investor-rates-

 

[Hooray]

The impact is '$1.6 million for over 7,700 properties', which means about $200 per property.

Why is this 'devastating'?

 

[Terry_w]

Why is this 'devastating'?

Positively geared properties will turn negative~

 

[SOP]

Its just a differential rating system.

Normally based on property type. Vacant/Residential/Commercial/Industrial.

Just another cost to consider when purchasing a residential investment property in those councils.

 

[joanmc]

As someone whose 9 properties are affected by this I can assure that I was not happy the year it came in, but what can you do? What concerns me more is the QLD govt meeting at 9.30 at night to change the Local govt act to stop the legal process. That seems hardly democratic and sets an uncomfortable precedent, particularly as the matter is still before the Supreme court.

 

[vbplease]

A refund would be nice backdating all of the overpaid rates we've paid.

Better yet the rates bill could be passed over to whoever resides in the property and uses the services.. like they do in the UK.

 

[chilliblue]

Wouldn't a levy on unoccupied properties be better served?

 

[neK]

Do councils in Sydney do this?

 

[Spades]

Hiya neK,

I have no idea but just look at the comments via that link:

This practise is not new! When we decided to move to Sydney a couple of years ago and put our house up for rent, we found immediately the rates rose for council services by up to $100 a quarter. At the time I gave up and paid the price. True it's a tax deduction but I have worked hard all my life why should I be penalised given house prices in QLD have been stagnant for years! What if my property wax my only income! Pfffttt to negative gearing and tax deductions!

 

[neK]

Hiya neK,

I have no idea but just look at the comments via that link:

Yea i read that earlier thinking it meant Sydney was charged.
But then re-reading it, i think the person is referring to their PPR in QLD that became an IP when they moved to Sydney.

 

[Spades]

Hi neK,

Yeah you maybe right,my bad.

Anyhow nothing more than money grab,premiums and strata etc are high enough.

Idiots.

 

[Peter_Tersteeg]

Did you ever notice that QLD properties tend to have a better rental yield than many other states? It's obviously not an absolute, mostly my own observations comparing Melbourne, Sydney & Brisbane.

It's not hard to make the argument that the higher QLD holding costs are simply being passed onto the tenants.

 

[Scott No Mates]

Did you ever notice that QLD properties tend to have a better rental yield than many other states? It's obviously not an absolute, mostly my own observations comparing Melbourne, Sydney & Brisbane.

Of course the yield's better, Brisbane is a regional city hence higher risk than Sydney or Melbourne (prices rise/fall more significantly & also stagnate or plateau for longer).

 

[Rusty_]

It's not hard to make the argument that the higher QLD holding costs are simply being passed onto the tenants.

Like all good businesses, you have to pass on the costs.

The Local Gov and State Gov know this, but they are going to get more money too, so they don't care..