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sideswipe said:
Nice to see you subscribe to it. I don’t.

It is inarguable that Games have historically been bad investments. Even less likely to work when no one much cares for them anymore.

No need to get all “Murdochy” about.


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lol i got a free subscription 10 years ago for a year and they still havent turned it off. I read it as a source of amusement/

As for inarguable... lol It depends on the city. Victoria embraces these events, It will create jobs in rural areas and encourage tourism so its a great idea for the whole of Victoria.
 

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sideswipe said:
Spend less. If we don't have the dough, then don't do the project.

Get decent treasury staff who have half a brain and maybe they might have bought some swaps when rates were low.

At the very smallest level, yesterday I snaffled another $250 from the energy bill comparison scheme. For about a minute's effort. That is the sort of idiotic scheme that should never have gotten off the ground.

I know the average person doesn't give two hoots about land tax, but it is a shocking tax - one of the few options that State governments have so they ain't giving it up. "They can afford it" is such a nothing justification. The landowner cops an annual tax for holding a property, then CGT on disposal.

Out of whack with other assets that aren't taxed similarly.

I know of land tax bills that have increased from 150% to 250% yoy from 22 to 23. And now there is a further increase on top of that? Great.

Dan has chucked our credit rating down the toilet. Shame the Libs are so bad that they seem to be unable to hammer this point.
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I don't have an issue with land tax, they can go for their lives.
 
HeathComeBack said:
lol i got a free subscription 10 years ago for a year and they still havent turned it off. I read it as a source of amusement/

As for inarguable... lol It depends on the city. Victoria embraces these events, It will create jobs in rural areas and encourage tourism so its a great idea for the whole of Victoria.
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What gets built needs to be a goer over a longer term rather than creating jobs to build it.


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My own view is a simple one: the rail loop should be shelved.

I'd also be happy to ditch the Commonwealth Games, because they are utterly ridiculous, but the politics of that would be disastrous.
 
sideswipe said:
Let’s go with an easy one. No Comm Games. These things(Olympics, etc) have historically provided terrible returns. Can’t see how it couldn’t be even worse in regional areas.

Chuck a few others in - just show some restraint.

These taxes will be inflationary.


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I'm not a huge fan of swimming and athletics type events per se, but I'm happy for the Comm Games to go ahead. Just as I am for the Grand Prix. Just as I am for the Superbikes. Just as I am for major golfing tournaments. Lots of major sporting events that governments of all persuasions invest in rarely cover the government investment. Doesn't mean they shouldn't do it.
 
Mollythedolly said:
I'm not a huge fan of swimming and athletics type events per se, but I'm happy for the Comm Games to go ahead. Just as I am for the Grand Prix. Just as I am for the Superbikes. Just as I am for major golfing tournaments. Lots of major sporting events that governments of all persuasions invest in rarely cover the government investment. Doesn't mean they shouldn't do it.
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It isn’t the Games itself. It is simply an example of the profligate spending that has gone on. Our parlous debt position means they should exercise some restraint rather than attempting to sole the problem whacking up taxes that have already skyrocketed.

Refer back to the example of land tax increases yoy of 150 to 250%…


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Mollythedolly said:
I don't have an issue with land tax, they can go for their lives.
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Land tax makes a whole lot more sense than stamp duty.

Payroll tax is another tax impossible to justify on a logical level other than "we need that money to pay for sh*t".

I don't think anyone that is complaining about those taxes fails to recognise that the money needs to be raised somehow. The state is in serious debt and needs to raise "revenue".

Replacing stamp duty with an annual tax on commercial properties is good as it encourages business investmenet i.e. what Victoria needs more, not less of. It is an innovative way of increasing tax and encouraging business at the same time.

Sometimes I get the vibe with some posters here that if one doesn't agree with everything the state ALP does (a) they hate the poor and (b) they're a RWNJ. :)

(This is not my reading of you, just to clarify)
 
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NMBB said:
A phrase Phillip Adams enjoys using 😔
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Sad :(

I've too much respect for what Adams has accomplished. Can't criticise him.
 

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Carringbush2010 said:
Yeah I don't, and probably the majority of land owners don't yet will be hit with a major hike in land tax.
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Take as stroll thru some major shopping centres (Puckle Street, Sydney Road), dozens of empty shops with premises on the top. Have been empty for months/years.

I tried to rent shop for a short term (6 months) in a shop in Moonee Ponds and even though had been empty for more than a year, rent asked was hysterical (it is still empty).

Premise up the top could easily accommodate a family of four (not that I wanted that part).

Don't base it on your experience.
 
TheGreatGrundy said:
I used a lot of his articles as discussion starters in English classes in the 70s and 80s. Nowadays he sounds like Death has been given its own interview show.
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He's 83 I think. Has a fine body of work but age caught up with him, as it will with all of us.
 
sideswipe said:
Isn't that exactly what you have done?
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No, the first part can be verified by doing exactly what I posted, hop in your car and take a look for yourself. That is called checking it out for yourself.

Then I posted my experience.

You really are a bad faith poster.
 
Maggie5 said:
No, the first part can be verified by doing exactly what I posted, hop in your car and take a look for yourself. That is called checking it out for yourself.

Then I posted my experience.

You really are a bad faith poster.
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What an amazing piece of analysis. You drive down a strip, see vacant shops and conclude that the asking rents are too high and that landlords can afford increased land taxes? Is that it?

Lack of demand not an issue?

Bad faith? You seem to be unable to handle an opposite view. Give me a laugh emoji. Just for old times.
 
sideswipe said:
What an amazing piece of analysis. You drive down a strip, see vacant shops and conclude that the asking rents are too high and that landlords can afford increased land taxes? Is that it?
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You have twisted what I posted.

sideswipe said:
Lack of demand not an issue?

Bad faith? You seem to be unable to handle an opposite view. Give me a laugh emoji. Just for old times.
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good-bye
 
Maggie5 said:
Take as stroll thru some major shopping centres (Puckle Street, Sydney Road), dozens of empty shops with premises on the top. Have been empty for months/years.

I tried to rent shop for a short term (6 months) in a shop in Moonee Ponds and even though had been empty for more than a year, rent asked was hysterical (it is still empty).

Premise up the top could easily accommodate a family of four (not that I wanted that part).

Don't base it on your experience.
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I'm not arguing that, I'm more than aware.

Like I said earlier, have been advised to raise the rent by my property manager. Don't want to, but to keep up with the land tax, might have to.

What would you like me to do about that?
 
Maggie5 said:
No, the first part can be verified by doing exactly what I posted, hop in your car and take a look for yourself. That is called checking it out for yourself.

Then I posted my experience.

You really are a bad faith poster.
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To be fair Mags, you're basically saying ' go see how it's worse for others than yourself', that's a popular line.

And? What would you like us to do about that.

Take the hit for everyone else?
 
jathanas said:
Land tax makes a whole lot more sense than stamp duty.

Payroll tax is another tax impossible to justify on a logical level other than "we need that money to pay for sh*t".

I don't think anyone that is complaining about those taxes fails to recognise that the money needs to be raised somehow. The state is in serious debt and needs to raise "revenue".

Replacing stamp duty with an annual tax on commercial properties is good as it encourages business investmenet i.e. what Victoria needs more, not less of. It is an innovative way of increasing tax and encouraging business at the same time.

Sometimes I get the vibe with some posters here that if one doesn't agree with everything the state ALP does (a) they hate the poor and (b) they're a RWNJ. :)

(This is not my reading of you, just to clarify)
Click to expand...

Yeah, hopefully they’ve started the transition from stamp duty to land tax. Much less of a barrier to home ownership for those trying to get into the market.
 
sideswipe said:
It isn’t the Games itself. It is simply an example of the profligate spending that has gone on. Our parlous debt position means they should exercise some restraint rather than attempting to sole the problem whacking up taxes that have already skyrocketed.

Refer back to the example of land tax increases yoy of 150 to 250%…


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Be an interesting analysis as to whether scheduling all these projects now and running up the debt is more or less efficient than trying to achieve the scope of works over the next (say) 40 years and maintaining more palatable debt levels. My gut feel is that we’ll be better off doing it the way we’ve done it because of the benefits that flow through the infrastructure improvements.

The sad reality is Covid still continues to impact the economy. Developers and builders are folding like Carlton FC circa 2023. Major projects are experiencing cost blow outs due to rising material and labour costs. None of that could have been foreseen pre Covid. Covid hits and governments everywhere we’re forced to make difficult decisions. I’m glad we continued to progress the scope of works and look toward hosting major events. It goes to the mindset for the state going forward.
 
Mollythedolly said:
Yeah, hopefully they’ve started the transition from stamp duty to land tax. Much less of a barrier to home ownership for those trying to get into the market.
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First home buyers are already fully or partially exempt from stamp duty. It's not much of a barrier at all.

To me this change is relatively superficial - pretty close to simply a deferral. 5.5% up front duty compared to 1%p.a. of the unimproved value x 10.
 
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