Senior Seagull wrote:
Bazza wrote: Yep BC, the strategy reading between the lines in clearly sandbagging and saving the furniture so as to have a real crack in 3 years time, we know after the last episode Labor govern pretty badly and turn toxic pretty quick, it only takes a few of the big labor tax hits to start having an adverse impact , the boats starting again and suddenly the libs are in with a big chance after one term.
Bowen seems set on these Negative Gearing changes, what people seem to forget is Keating tried the same thing in the 80s, it was a shambles and within 18 months had reversed it, Keating was a hell of a lot smarter than Bowen will ever be on the economy, no treasurer has been dumb enough to touch it since labor or liberal, I can see that alone turning to crap, Bowen has an atrocious record in Cabinet.. a miracle he is still hanging around.
Bazz i can understand them wanting to look at Neg gearing but its more and ES problem given the massive housing boom they have had and the proportion of properties being bought buy overseas buyer pushing the prices up, but a change to NG would be a disaster here in the West it would just about kill off a building industry that is already on life support.
If Shortarse was to restrict NG only to apply to investments in established properties purchased after the NG changes and leave it off new properties, it would push investors to the new building market and give a big bust to the building industry which has a substantial job multiplier effect. Unlike established properties, new builds increase the rental stock, which will ease the pressure on rental prices, win win all round.
Good idea SS.That would be a lot better than what there current plan is.
The Wa Construction industry has declined 50% in 12 years.From 32,000 new home starts in 2006 to 16,000 in 2018.And the crane tower index also from 50 crane towers in 06 to 22 right now.With most of the towers on Big road infrastructure projects.
