Australian Politics Forum - Greens Propose New Tax On Commercial Property

freediver

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Re: Greens Propose New Tax On Commercial Property
Reply #45 - Jan 29^th, 2025 at 11:40am

Leroy wrote on Jan 29^th, 2025 at 11:39am:

freediver wrote on Jan 29^th, 2025 at 11:33am:

So it's not a cunning tax perk, they simply don't want the rental income?

Roll Eyes

Well they are not all the same, some might be retired and don't want the income and have parked some money in property just in case the markets fall over.

Some might waiting for zoning changes.

Some might just have a pocket buy and will use it when the time is right.

Some could be bought in a trust for the future.

Some will be speculative.

There are hundreds of reasons.

Any any of them good reasons? Or do they all rely on an over-active imagination?

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John Smith

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Re: Greens Propose New Tax On Commercial Property
Reply #46 - Jan 29^th, 2025 at 11:48am

Leroy wrote on Jan 29^th, 2025 at 11:39am:

freediver wrote on Jan 29^th, 2025 at 11:33am:

So it's not a cunning tax perk, they simply don't want the rental income?

Roll Eyes

Well they are not all the same, some might be retired and don't want the income and have parked some money in property just in case the markets fall over.

Some might waiting for zoning changes.

Some might just have a pocket buy and will use it when the time is right.

Some could be bought in a trust for the future.

Some will be speculative.

There are hundreds of reasons.

You can't say I didn't warn you Cheesy

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John Smith Gold Member Offline Australian Politics Posts: 75097 Gender:	Re: Greens Propose New Tax On Commercial Property Reply #47 - Jan 29^th, 2025 at 11:52am freediver wrote on Jan 29^th, 2025 at 11:40am: Any any of them good reasons? Or do they all rely on an over-active imagination? What makes them good? Do they need your approval before they qualify as good? Or is there some other standard?
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Leroy

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Re: Greens Propose New Tax On Commercial Property
Reply #48 - Jan 29^th, 2025 at 11:55am

freediver wrote on Jan 29^th, 2025 at 11:40am:

Leroy wrote on Jan 29^th, 2025 at 11:39am:

freediver wrote on Jan 29^th, 2025 at 11:33am:

So it's not a cunning tax perk, they simply don't want the rental income?

Roll Eyes

Well they are not all the same, some might be retired and don't want the income and have parked some money in property just in case the markets fall over.

Some might waiting for zoning changes.

Some might just have a pocket buy and will use it when the time is right.

Some could be bought in a trust for the future.

Some will be speculative.

There are hundreds of reasons.

Any any of them good reasons? Or do they all rely on an over-active imagination?

Maybe reasons that you don't understand.

Personally I'm in the first box, diversity.

I have a mate who has a building he ran his printer shop in for decades but now does nothing and is waiting until he gets an offer he can't refuse. He won't rent because it makes it harder to sell. Owning a property is no different to some people from having boats, caravans, holiday homes ect, its not about the money.

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freediver

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Re: Greens Propose New Tax On Commercial Property
Reply #49 - Jan 29^th, 2025 at 12:32pm

John Smith wrote on Jan 29^th, 2025 at 11:52am:

freediver wrote on Jan 29^th, 2025 at 11:40am:

Any any of them good reasons? Or do they all rely on an over-active imagination?

What makes them good? Do they need your approval before they qualify as good? Or is there some other standard?

If it was your money (and you had half a brain) would you actually want to forgo the rental income because you are "just parking money"? Or because you thought it was a cunning scheme to get tax perks?

Or does this logic only apply to some nefarious, wealthy "them"?

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John Smith

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Re: Greens Propose New Tax On Commercial Property
Reply #50 - Jan 29^th, 2025 at 12:52pm

freediver wrote on Jan 29^th, 2025 at 12:32pm:

If it was your money (and you had half a brain) would you actually want to forgo the rental income because you are "just parking money"? Or because you thought it was a cunning scheme to get tax perks?

Or does this logic only apply to some nefarious, wealthy "them"?

you don't want to answer ehh Roll Eyes

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freediver Gold Member Offline www.ozpolitic.com Posts: 49389 At my desk.	Re: Greens Propose New Tax On Commercial Property Reply #51 - Jan 29^th, 2025 at 12:56pm This is why the Greens are so off with the fairies. As soon as they start talking about other people's money, common sense goes out the window.
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Leroy

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Re: Greens Propose New Tax On Commercial Property
Reply #52 - Jan 29^th, 2025 at 1:01pm

freediver wrote on Jan 29^th, 2025 at 12:32pm:

John Smith wrote on Jan 29^th, 2025 at 11:52am:

freediver wrote on Jan 29^th, 2025 at 11:40am:

Any any of them good reasons? Or do they all rely on an over-active imagination?

What makes them good? Do they need your approval before they qualify as good? Or is there some other standard?

If it was your money (and you had half a brain) would you actually want to forgo the rental income because you are "just parking money"? Or because you thought it was a cunning scheme to get tax perks?

Or does this logic only apply to some nefarious, wealthy "them"?

Depends where you are at and what amount of time you want to invest.

If you are running a business and you are making lots of profit you might buy property to lower your profit to avoid tax and pick up a asset which you can sell at a later date when your profit is not high and pay less tax.

There is a myriad of reasons to park money.

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John Smith Gold Member Offline Australian Politics Posts: 75097 Gender:	Re: Greens Propose New Tax On Commercial Property Reply #53 - Jan 29^th, 2025 at 1:01pm In case you missed it twice already fd John Smith wrote on Jan 29^th, 2025 at 11:52am: What makes them good? Do they need your approval before they qualify as good? Or is there some other standard?
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Leroy

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Re: Greens Propose New Tax On Commercial Property
Reply #54 - Jan 29^th, 2025 at 1:02pm

freediver wrote on Jan 29^th, 2025 at 12:32pm:

John Smith wrote on Jan 29^th, 2025 at 11:52am:

freediver wrote on Jan 29^th, 2025 at 11:40am:

Any any of them good reasons? Or do they all rely on an over-active imagination?

What makes them good? Do they need your approval before they qualify as good? Or is there some other standard?

If it was your money (and you had half a brain) would you actually want to forgo the rental income because you are "just parking money"? Or because you thought it was a cunning scheme to get tax perks?

Or does this logic only apply to some nefarious, wealthy "them"?

Bit of envy there.

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John Smith

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Re: Greens Propose New Tax On Commercial Property
Reply #55 - Jan 29^th, 2025 at 1:02pm

Leroy wrote on Jan 29^th, 2025 at 1:01pm:

Depends where you are at and what amount of time you want to invest.

If you are running a business and you are making lots of profit you might buy property to lower your profit to avoid tax and pick up a asset which you can sell at a later date when your profit is not high and pay less tax.

There is a myriad of reasons to park money.

Fd read in an economic text book one day that people buy property only for the rent .. therefore no other reason can exist Cheesy

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freediver

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Re: Greens Propose New Tax On Commercial Property
Reply #56 - Jan 29^th, 2025 at 2:03pm

Quote:

If you are running a business and you are making lots of profit you might buy property to lower your profit to avoid tax and pick up a asset which you can sell at a later date when your profit is not high and pay less tax.

You didn't answer the question. You didn't even mention rental income.

If it was your money (and you had half a brain) would you actually want to forgo the rental income because you are "just parking money"? Or because you thought it was a cunning scheme to get tax perks?

Typical Greens mentality. It doesn't have to make sense if it is other people's money.

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Leroy

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Re: Greens Propose New Tax On Commercial Property
Reply #57 - Jan 29^th, 2025 at 2:14pm

freediver wrote on Jan 29^th, 2025 at 2:03pm:

Quote:

If you are running a business and you are making lots of profit you might buy property to lower your profit to avoid tax and pick up a asset which you can sell at a later date when your profit is not high and pay less tax.

You didn't answer the question. You didn't even mention rental income.

If it was your money (and you had half a brain) would you actually want to forgo the rental income because you are "just parking money"? Or because you thought it was a cunning scheme to get tax perks?

Typical Greens mentality. It doesn't have to make sense if it is other people's money.

What is wrong with you, I just showed you how people can buy a property for the tax advantage. Renting a property is not just sit back and wait for the money and some people can earn far more with their time than renting out a property. If you are running a large business that requires your full time attention you don't want to have to worry about leases, tenants and all the other stuff that goes with being a landlord.

Its a stupid solution to a non existent problem, charge them 2% tax and they then claim that 2% tax at the end of the year. It just does not make sense.

If I'm a greenie

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freediver

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Re: Greens Propose New Tax On Commercial Property
Reply #58 - Jan 29^th, 2025 at 2:21pm

Quote:

What is wrong with you, I just showed you how people can buy a property for the tax advantage.

Obviously you have to buy it to rent it out. But that doesn't actually answer the question, does it? Let me demonstrate how to give a straight answer:

If I owned a rental property, I would/would not deliberately forgo the rental income because...

This is my answer:

If I owned a rental property, I would not deliberately forgo the rental income because I am not an idiot.

Would you like to have a go?

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Leroy

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Re: Greens Propose New Tax On Commercial Property
Reply #59 - Jan 29^th, 2025 at 2:22pm

freediver wrote on Jan 29^th, 2025 at 2:03pm:

Quote:

If you are running a business and you are making lots of profit you might buy property to lower your profit to avoid tax and pick up a asset which you can sell at a later date when your profit is not high and pay less tax.

You didn't answer the question. You didn't even mention rental income.

If it was your money (and you had half a brain) would you actually want to forgo the rental income because you are "just parking money"? Or because you thought it was a cunning scheme to get tax perks?

Typical Greens mentality. It doesn't have to make sense if it is other people's money.

It is my money and its exactly what I have done. I don't want the hassles of a tenant, I've had 30 years of that its not fun. If I was 30 again I would be squeezing every last dollar out it.

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