Leroy wrote on Jan 28^th, 2025 at 5:21pm:


is that the same mind that claimed non existant renters would need to pay more in rent?

Leroy wrote on Jan 28^th, 2025 at 5:21pm:


don't tell that to fd .. he seems to think there are no tax perks.

OR .. If they're so cashed up they don't need the income, and would rather use the repayments as a tax write off , whilst banking long term on the capital gain of the building.

Leroy wrote on Jan 28^th, 2025 at 5:21pm:


what costs? The tax is only payable if the premises is vacant. Once it is leased to a tenant there is no more tax. If commercial property owners are forced to the table, commercial rents will likely decrease.

Leroy,
they can't rent them out now as the rents are too high.
They can hardly expect them to increase the rent.

Bobby. wrote on Jan 28^th, 2025 at 5:39pm:


Last November I bought a commercial property and will not rent it out, I'm using it for personal storage. I sold most of my rentals and found that I could buy a commercial building for the price of a house but the capitol gain will be higher. If the government did put a vacancy tax of 2% more on it then thats 2% more I can claim on tax. Using tax to solve a problem is bonkers, its accepting its a problem and doing nothing to solve the problem. a 2% vacancy tax is not going to make renting out a commercial property cheaper for the renter or cost the owner more money its just going to create more paperwork.

Leroy wrote on Jan 28^th, 2025 at 5:35pm:


You can't be that clueless

You don't seem to understand that the whole point of this idea is to force landlords to meet the market. I already told you that two commercial premises where I am located have been vacant for two years+ because the landlord is holding out with an unreasonably high rent. He won't even discuss a lower rent. A tax like this will force him to the table and he either pay the tax, or reduce the rent he's asking for to meet the market. Thats a lower rent, not a higher rent.

Leroy wrote on Jan 28^th, 2025 at 5:46pm:



crap. You need to get out in the real world.

in my town there are a select few multi millionaires who own most of the commercial property, and they don't need the money. Their real income is made by other means and for them the properties are just a tax write off. There are many premises that have been empty for years, and still they won't drop their asking prices. They are totally unwilling to negotiate on rent. The whole town suffers as a consequence because those that want to open up a business don't because they don't want to get locked in to exorbitant rents, the premises look run down because no one maintains them, which in turn turns off tourists which has a knock on effect for other businesses that rely on tourists to show up.

Leroy wrote on Jan 28^th, 2025 at 5:57pm:



Firstly, you cannot claim the cost as a deduction on your taxes if you are using it for 'personal storage'. Only if you are using it to store plant / equipment you use to make your income.

Secondly, the premises is not vacant, you said you are using it for storage so you would not have to pay a vacancy tax on it.

Quote:


Rich people with their cunning plans get "tax perks" from losing money on their investment.

Sounds like spin to me, that was not fully thought through, like most of the Greens policies these days. It reveals far more about your mentality than what the landlords are actually thinking.

freediver wrote on Jan 29^th, 2025 at 7:45am:



But they don't lose money. Their profit comes from their capital gains. Instead of paying taxes, they pay the interest on acquiring the property. For them the cost is the same but instead of it  going to the tax man, it goes to building up their portfolio

I thought you said you understood economics?