Geoff

[Geoff @Geoff1982]

@GeoffWilsonWAM @cjoye @AlboMP @JEChalmers Yes Dave Hughes. I’ve always gone to him for policies and economic opinion 😂

[Geoff @Geoff1982]

@David_McMahon75 Being leveraged doesn’t make it on revenue account. You need to be carrying on a business of share trading. The ATO has a guide as to the difference. Revenue account is a business as a sole trader and yes gets the threshold. But only if no other income.

[Geoff @Geoff1982]

@AvidCommentator Imagine if they cut immigration to a reasonable level and rents fell or stayed flat. It would dispel the argument that negative gearing reduces rents. Which I suggest it doesn’t or ever did!

[Geoff @Geoff1982]

@TheKouk And when was the last time that (household incomes outpaces house prices) happened for an extended period of time?

[Geoff @Geoff1982]

@matt_barrie He was wrong about super. They haven’t doubled the tax on those investments.

[Geoff @Geoff1982]

@ArrowInvestor @cjoye What I have read says otherwise. The cost bases on your losses are indexed too. You’re not saying when the losses are realised and making the shares worth nothing (rare), is complicating it. What if those stocks are worth $1 in 10 years time?

[Geoff @Geoff1982]

@cjoye I doubt that is correct, I’m sure they will let you offset losses for capital losses.

[Geoff @Geoff1982]

@CampbellNewman @SimonBanksHB You inherit a 1 million and it goes to a testamentary trust. How much of that is taxed? 0%.. only the income earned in the trust above that initial million is taxed. Once you reach 18 or given age you get that million. All of it.. no death tax there!!

[Geoff @Geoff1982]

@blogs412338 @ausstockchick But yeah getting the loan is an issue and not negative gearing in the company against salary and wages.

[Geoff @Geoff1982]

@blogs412338 @ausstockchick She means you sell the shares in the company to the new owner not the actual property.. so if shares still qualified. You’d get the discount.

[Geoff @Geoff1982]

@haydenbeamish Not in California?

[Geoff @Geoff1982]

@_lukehansen @TheKouk I asked ChatGPT it said no correlation between capital gains tax rates and GDP per capita. Some rich countries have high rates some low. what you’re saying supports the Kouks point.. Mining resources and other factors are more important. 🤝

[Geoff @Geoff1982]

@_lukehansen @TheKouk That’s the point his making.. higher CGT in Australia to NZ and we are still the richer country..

[Geoff @Geoff1982]

@ca91450 @AvidCommentator Is it mad and unhinged that I and other workers pay more than that each and every week on our Salary and wages. Tax needs broad base and low rate. It’s taxation 101!! Not high rates for some and no tax for others.

[Geoff @Geoff1982]

@TheKouk They haven’t indexed them or changed them much sonce 2008.. so the opposite isn’t true if you look at where inflation is?

[Geoff @Geoff1982]

@SkyNewsAust Didn’t they get 11% primary vote at the by election. Don’t think they are very close to getting back in at the moment!

[Geoff @Geoff1982]

@ShowerCapAM @AvidCommentator No

[Geoff @Geoff1982]

@cjoye Don’t say it too loud Chris, or that will be there next target!!

[Geoff @Geoff1982]

@JonathanBo3581 @cjoye Sure that gets the tax down a bit. But they pay more than the 23.5% top rate on CG almost always, so my original point stands. If you want to get money out of the company you have to pay personal marginal rate. Rent to SMSF limited to market rate.

[Geoff @Geoff1982]

@GeoffWilsonWAM But why should it me taxed at half the rate of income someone worked for? That’s the real question. Yes tax is too high in Australia agree on that point!