What cheeses me off

[JohnK]

I have a Southern Cross annual travel insurance policy until September 2024 and they've been sending me an email fir some promotion where they want me to purchase travel insurance and I'll go into a random draw to win something or other.

My name is not "There". And please check if the person you're sending the email to already has an active policy past the expiry date of the promotion.

 

[cove]

Our Victorian land tax jumped by 75% this year. Received the bill on Tuesday.

 

[Pushka]

Our Victorian land tax jumped by 75% this year. Received the bill on Tuesday.

There is absolutely no excuse for that. Governments are ripping us off more than supermarkets which is saying something. At least with supermarkets we can shop elsewhere.

 

[cove]

Actually @Pushka I thought the jump was less than it could have been. We won’t be buying any properties in Victoria until their state budget is repaired.

 

[dajop]

There is absolutely no excuse for that. Governments are ripping us off more than supermarkets which is saying something. At least with supermarkets we can shop elsewhere.

Someone has to pay for all the support provided to vulnerable workers and small businesses during the pandemic.

Well publicised "‘COVID-19 debt temporary surcharge" to try and right a bad budget position.

Nevertheless politically popular as it doesn't touch a huge swathe of people.

I guess a bit of robbing peter to pay paul too, it's one way of getting more money from the Commonwealth (as it is an allowable income tax deduction)

 

[Pushka]

Someone has to pay for all the support provided to vulnerable workers and small businesses during the pandemic.

Well publicised "‘COVID-19 debt temporary surcharge" to try and right a bad budget position.

Nevertheless politically popular as it doesn't touch a huge swathe of people.

I guess a bit of robbing peter to pay paul too, it's one way of getting more money from the Commonwealth (as it is an allowable income tax deduction)

It's a state based tax.

 

[Pushka]

Our Victorian land tax jumped by 75% this year. Received the bill on Tuesday.

In SA, any properties that were held in a Trust were assessed separately for Land Tax. During Covid, that changed so that each property came under the same Land Tax valuation. The land tax bills for some quadrupled. It was one of the things that toppled that state govt.

 

[dajop]

It's a state based tax.

Exactly.

If you’re renting out your property, for every $100 extra you pay in land tax that reduces your taxable income by $100. If for example you are on 30% tax rate, you will pay $30 less in income tax. Therefore$70 of that extra $100 comes from you and $30 effectively comes from the federal government. (of course no transfer from commonwealth to state if you or the trust the property is held in is not paying income tax).

 

[Pushka]

Exactly.

If you’re renting out your property, for every $100 extra you pay in land tax that reduces your taxable income by $100. If for example you are on 30% tax rate, you will pay $30 less in income tax. Therefore$70 of that extra $100 comes from you and $30 effectively comes from the federal government. (of course no transfer from commonwealth to state if you or the trust the property is held in is not paying income tax).

Sure but that assumes properties are rented out. We have two, not rented out, so we don't earn income nor negatively gear but do have to pay CGT when we sell. Land Tax grabs it all.

 

[p--and--t]

Sure but that assumes properties are rented out. We have two, not rented out, so we don't earn income nor negatively gear but do have to pay CGT when we sell. Land Tax grabs it all.

Ah. Now we know two of the 1m vacant at census night

If vacant in Victoria there is a long term.vacancy tax now as well. QLD is considering same.

 

[Pushka]

Ah. Now we know two of the 1m vacant at census night

If vacant in Victoria there is a long term.vacancy tax now as well. QLD is considering same.

Yes and I reckon SA will follow suit. I think we were away last census. So there's two for you!

 

[Flashback]

WCMO is Citibank / NAB. See NAB acquires Citibank Aus for context ..

 

[dajop]

If vacant in Victoria there is a long term.vacancy tax now as well. QLD is considering same.

Yes, although an exemption for holiday homes that are occupied for a few weeks a year ...

 

[dajop]

Sure but that assumes properties are rented out. We have two, not rented out, so we don't earn income nor negatively gear but do have to pay CGT when we sell. Land Tax grabs it all.

Yes true, holiday homes, parents with children occupying the house/unit, relatives staying for "free", or genuinely vacant homes, I guess there are various reasons why property might not be rented out.

 

[JohnK]

Ah. Now we know two of the 1m vacant at census night

If vacant in Victoria there is a long term.vacancy tax now as well. QLD is considering same.

A what tax?

We've gone way past the time that governments can provide any value.

They should not have sold assets for short term gain. Stupid move.

 

[Lynda2475]

WcMO is Sydney trains, been waiting 30 mins at Central and am about to lose my table booking as a no show. Poor signage, too long between peak hour services.

This is why I always preference the bus, much more regular and you can get off when delays. First time on a train in Sydney since pre covid, I was right to avoid. Absolutely useless.

 

[dajop]

We've gone way past the time that governments can provide any value.

It's not a tax on people who have vacant properties for a few months, vacant for renovations or even those who use the property only a couple of times a year and is vacant for most of the year (such as holiday homes, which have exemptions if occupied for 4 weeks or more a year by the owner or their relatives).

Instead, there are a group of investors who basically sit on properties purely for capital gain, just somewhere to park their money (often foreign investors). Aimed to motivate that group to make the property available for rent, probably moreso than as a pure tax grab. Apparently there are a lot of empty apartments in central Melbourne that fall into this category.

There's also a vacant land tax that is being implemented for "established" suburbs in Melbourne , which is aimed to disincentivise holding onto empty residential lands for too long (without dwellings) to encourage people to build properties. I think people become liable for this after holding the undeveloped/empty residential land for five years without any development.

These are more about using tax as a lever to encourage certain behaviours than generating lots of revenue.

 

[Denali]

What cheeses me off today is when someone in my team always adds an additional 4-8 people to an email chain for no reason and she does it all the time. Likes she incapable of keeping something within only the group that it applies to and CC's up to the CFO every time.

Today I responded with;
Hi everyone and before this launches a dozen emails that I dont have to read, if you followed the instructions in the 1st email/chain and signed in>alert>tasks, you will see that .................

Please drop me off the email chain as this has nothing to do with me and I dont have any time to give to additional tasks that are outside my scope or mental capacity at this time.

My CFO asked if I was OK

 

[TheRealTMA]

What cheeses me off today is when someone in my team always adds an additional 4-8 people to an email chain for no reason and she does it all the time. Likes she incapable of keeping something within only the group that it applies to and CC's up to the CFO every time.

Today I responded with;
Hi everyone and before this launches a dozen emails that I dont have to read, if you followed the instructions in the 1st email/chain and signed in>alert>tasks, you will see that .................

Please drop me off the email chain as this has nothing to do with me and I dont have any time to give to additional tasks that are outside my scope or mental capacity at this time.

My CFO asked if I was OK

Chill. And don’t use ReplyAll.

or use ReplyAll to express your pleasure at team members inclusiveness.

 

[p--and--t]

A what tax?

We've gone way past the time that governments can provide any value.

They should not have sold assets for short term gain. Stupid move..

There hundreds to thousands of apartments bought off the plan by Chinese investors that have been completed for years and never been occupied for a single day. The 40 storey building next to where I used to live had 70+ percent of apartments empty. There are people desperate for somewhere to live and these overseas absentee owners are refusing to rent them out.