Can you please tell me what tax laws will be introduced within the next 5 to 10 years? I would like to be ready for them now !

Thank you ?

My point has nothing to do with whether it is a good or bad investment. My point is that owning a home should be within anyone’s reach if they hold down a full time job and work a good hard day.

By making incentives to invest in property – we are simply killing the chances of owning a home for the majority of Australians.

Now if trends continued for the next 20 years as in the last 20 (3 x average home price ), it would cost the average person over $100,000 per annum in repayments on an average home in Australia.

Now you can say average wages will increase, but you would be wrong, the figures have shown that average wages have only increases 25% over last 10 years.

Something is out of whack and needs to be corrected. Problem is everyone wants to use tiny little band-aids and no one wants to make hard decisions.

You need to take care of yourself because no-one else will care about you or I when we retire. I have helped hundreds of clients get into property investment for a number of years now and I am proud to be able to give them the opportunity where down the track they will have some options to consider instead hoping the Govt will take care of them.

I believe everyone should invest in property for the long run, it’s not a get rich quick vehicle but over years it will prove itself to make you money. There are many who will say that their property hasn’t made them any capital growth, well unfortunately there are areas and there are areas where you should invest.

Let’s make another thing clear, in my mind, the only way middle Australia can succeed in owning a property is for state and federal governments to get their filthy, dirty, stinking, corrupt, incompetent hands out of the way of any consumer real estate transaction.

Oh how true and spoken with the passion the subject deserves, couldn’t have said it better myself.

The biggest cost is the accommodation of the child. This may or may not be included in the line item.

If it is included, you will have double counted this cost.

My wife and I rent a modest 2 bedroom flat and currently raise 2 kids in it because we simply cannot get a foot into the market. We are not stupid enough to pay $350k for an ‘entry’ level home in the middle of nowhere with a 2 hour commute to the city because we knew what happened during the last recession when people were over committed.

The collusion between development groups, greedy councils and the wanna-be property millionairs out there have destroyed affordability in what is an essential commodity in today’s society.

Why don’t we start speculating on medicine or food for that matter?

This country is abhorrently corrupt in the way that vested interests have control of the policy makers who spout rubbish about the need to address this issue, but do absolutely nothing about it.

Whilst John Howard sewed the seeds for this disaster, it was Kevin Rudd who did absolutely nothing but completely ineffectual token gestures to fix the problem. In this regard both Liberal and Labour are the enemy, but the populace has no choice but to give one or the other control with the current electated dictatorship of the Australian political system.

Meanwhile, my wife and I watch in despair as the house prices continue to climb out of reach and the policy makers all take turns saying they are serious about fixing the problem, whilst still busily increasing their own property portfolios. Between the hypocracy of their hollow words about being honest, we’re expected to ingore their gross conflict of interest on the matter and just accept that this is the new norm.

Australia is no longer for the working class Australians. If you are an essential service worker on a fixed wage and cannot afford a home, you’re a sucker and should have gotten a better paying job.

Australia has fallen victim to greed and corruption. The notion of a ‘fair go for all’ is a fantasy. The government is too busy stuffing it’s own pockets to care, knowing that you have to either vote liberal or mini-liberal.

I weep for the country I once loved…

So does negative gearing really work in favour of the investor? In the long term it appears to be a favourable outcome, but at the end when the sale occurs and your negatively geared property is realised, then the true cost of the so called “investment” appears, by then it is too late.

Having an investment property is a long term proposition and it is this longevity of investment which is concerning, Tax laws change, and no one can see into the future to know exactly what the consequences of these changes will be, in fact no one can even tell what the new tax laws will be, so really, investing long term leaves you at the mercy of others.

One thing i can be certain of is if that the economy is doing well and the real estate industry is flourishing, (leaving the poor poorer) there behind the scene is the Tax department (be it state, local or federal) conjuring up new plans to get their share, and I won’t call it a Fair share either.

One has to be on the ball constantly , but how many average income earners have the money to throw around, to be able to buy a property and sell it when laws change or at the so called “right time” and then buy again and again and again. It is hard enough to own one roof over your head.

It goes to show that Investment properties do not necessarily always give a good return. Investment properties can tie up valuable sales turn over for Families who need homes to live in. Investment properties can inflate house prices to an unaffordable level. The longevity of the investment puts it at the mercy of unknown future forces and the final return may not be as good as one originally thought. It makes the average hard working Aussie suffer.

Let me see, do I remember that good old saying I heard a million times when I was a Kid…………………Can someone help me, it was something about owning your own home…..was it “THE GREAT AUSTRALIAN DREAM”