buy in other countries. It pays off if you do your homework correctly. Our Australian Government makes it very difficult to want to invest here ..spread it out globally. its worth it
This law will force some interstate investors to sell their properties in QLD and keep away others who would like to invest in QLD. Result: property price to fall in QLD, affecting also investors who own properties only in QLD; higher rental crisis and higher cost for renting, which will affect only the queenslanders...
I genuinely question the legality of this. The Qld state, charging a Qld tax but pulling in figures outside of their jurisdiction... IF Qld does get away with this, every other state will follow.
Exactly. It annoys me when people think investors are rich and they believe we should be penalised because of it, what they don’t understand is the cost of investing, renovations constantly, unearned income tax on rent received real estate fees monthly, Capital gains tax, Land Tax, council rates, water charges, insurance for house and rental. Now renters have more rights over the property than the owner with the new laws. At the end of the day it’s one big head ache. Plus the fact should you own more than one property not even part pension or the six dollar prescription are you entitled to when you retire so my advise is to get rid of them six years before retirement. No incentive at all to invest and yes I agree there will be a huge shortage of houses to rent, my investment properties will be sold tenants will vacate when the leases are up, unfortunately I can’t sell before then like I said tenant have more rights than landlords. I totally agree that rents will go up unless the government freezes rents which then will encourage more investors to sell, you don’t invest to loose money.
As a Queenslander I fail to understand how Queensland can impose its laws on other states....I think our Government has well and truly overstepped the line and i believe a class action should be launched against the Queensland Government with advice from the Governor General if Queensland has overstepped the market and broken constitutional laws.
QLD land tax changes now effective! This should chase out a few investors and let property return to its intended purpose: homes. With the Fed Gov to pocket $2 billion by wiping national investor concessions, to redirect into fixing the housing shortage, I think these are next!
A great idea would be to tax investors 100% on any profit they make on the sale of an investment property. That would help keep property prices down as well.
The best way for the government to help is to keep their dirty hands out of it... The more they meddle the more they F things up and accomplish the exact opposite of what they set out to do!
If all your investment properties are in qld , nothing is going to change for you . If you own 10 properties in qld your property tax will stay the same next year.
Example, I currently own 6 investments in qld , total land valuation $1.4 million. I pay land tax is approximately 17k a year, this won't change . My brother owns 6 properties also, total value of $ 1.7 million , but each property is in a different state, currently he pays no property tax on any of them , because he claims the tax free threshold 6 times one from each state. I currently pay around 3k on each property in qld , my brother pays nothing, even on his qld property he pays nothing, I think this change should at least make him pay 3k on his qld property. This is how I see the new legislation.
Ok, so it's a tax on the rich, I'm ok with that. In addition, any policy that moderates investment in property is a good thing as the property market is completely unproductive capital that doesn't help the economy.
Secret new tax because the past 20 years, the property and construction sectors disclosed a total of over $54 million in donations to political parties. Any new tax that would potentially weaken property demand is a no no. Expect a huge political campaign by vested interests 😁
"95% of his clients are mom's and dad's just trying to take the burden off the government we ment" those poor selfless people. Property investment helps nobody but the investor. Saying anything else is bullshit. "We do it for renters" is a rubbish excuse, only building new houses would help. Buying up existing houses and renting them out is purely exploition for profit.
QLD land tax changes now effective! This should chase out a few investors and let property return to its intended purpose: homes. With the Fed Gov to pocket $2 billion by wiping national investor concessions, to redirect into fixing the housing shortage, I think these are next!
You guys are the best
Thanks Cherry!
Similar situation in the U.S. too.
Thanks for sharing Victor
buy in other countries. It pays off if you do your homework correctly. Our Australian Government makes it very difficult to want to invest here ..spread it out globally. its worth it
Thanks Frank, great point
God idea, Australian Tax’s are crippling.
This law will force some interstate investors to sell their properties in QLD and keep away others who would like to invest in QLD. Result: property price to fall in QLD, affecting also investors who own properties only in QLD; higher rental crisis and higher cost for renting, which will affect only the queenslanders...
100%
I genuinely question the legality of this. The Qld state, charging a Qld tax but pulling in figures outside of their jurisdiction... IF Qld does get away with this, every other state will follow.
That's a great point!
This can’t be lawful - the states have been keen to assert their independence in tfr last few years however now we’re all one country??? Stinks
thats not great, landlord just pass the cost to renters!
That's a good point Ming
Exactly. It annoys me when people think investors are rich and they believe we should be penalised because of it, what they don’t understand is the cost of investing, renovations constantly, unearned income tax on rent received real estate fees monthly, Capital gains tax, Land Tax, council rates, water charges, insurance for house and rental. Now renters have more rights over the property than the owner with the new laws. At the end of the day it’s one big head ache. Plus the fact should you own more than one property not even part pension or the six dollar prescription are you entitled to when you retire so my advise is to get rid of them six years before retirement. No incentive at all to invest and yes I agree there will be a huge shortage of houses to rent, my investment properties will be sold tenants will vacate when the leases are up, unfortunately I can’t sell before then like I said tenant have more rights than landlords. I totally agree that rents will go up unless the government freezes rents which then will encourage more investors to sell, you don’t invest to loose money.
Metropole helped so many to buy in QLD, they now better switch into helping investors to sell in QLD
As a Queenslander I fail to understand how Queensland can impose its laws on other states....I think our Government has well and truly overstepped the line and i believe a class action should be launched against the Queensland Government with advice from the Governor General if Queensland has overstepped the market and broken constitutional laws.
Thanks Wayne, that's a great point and we're all left scracting our heads on this one
Yeah, i reckon class action will be from renters this time
QLD land tax changes now effective! This should chase out a few investors and let property return to its intended purpose: homes. With the Fed Gov to pocket $2 billion by wiping national investor concessions, to redirect into fixing the housing shortage, I think these are next!
Is the land tax calculated on market value of the property or just on the land value that comes in on your rates valuation?
Great question, based off the land valuation on the rates.
A great idea would be to tax investors 100% on any profit they make on the sale of an investment property. That would help keep property prices down as well.
Time to vote pallet jack out ..
The best way for the government to help is to keep their dirty hands out of it... The more they meddle the more they F things up and accomplish the exact opposite of what they set out to do!
If all your investment properties are in qld , nothing is going to change for you . If you own 10 properties in qld your property tax will stay the same next year.
That's right, thanks for watching!
I can not believe she can be so gready..this is nothing short of thieving
Big time!
Example, I currently own 6 investments in qld , total land valuation $1.4 million. I pay land tax is approximately 17k a year, this won't change . My brother owns 6 properties also, total value of $ 1.7 million , but each property is in a different state, currently he pays no property tax on any of them , because he claims the tax free threshold 6 times one from each state. I currently pay around 3k on each property in qld , my brother pays nothing, even on his qld property he pays nothing, I think this change should at least make him pay 3k on his qld property. This is how I see the new legislation.
You need 4 trusts asap
Ok, so it's a tax on the rich, I'm ok with that. In addition, any policy that moderates investment in property is a good thing as the property market is completely unproductive capital that doesn't help the economy.
Tax investors to relief rental crisis??? Great I idea, not
Well when you take incentives and money from the government for investing in something to me that’s counter-party risk.
I know right!
Secret new tax because the past 20 years, the property and construction sectors disclosed a total of over $54 million in donations to political parties. Any new tax that would potentially weaken property demand is a no no. Expect a huge political campaign by vested interests 😁
Thanks for watching John
Oh no there's that dreaded word again "the goverment" 🙄
"95% of his clients are mom's and dad's just trying to take the burden off the government we ment" those poor selfless people.
Property investment helps nobody but the investor. Saying anything else is bullshit. "We do it for renters" is a rubbish excuse, only building new houses would help. Buying up existing houses and renting them out is purely exploition for profit.
wow what a simple solution!!
QLD land tax changes now effective! This should chase out a few investors and let property return to its intended purpose: homes. With the Fed Gov to pocket $2 billion by wiping national investor concessions, to redirect into fixing the housing shortage, I think these are next!