UNREALISED TAX ON PRIMARY RESIDENCE

This country is done.

If you watch the video, he explains it like this.

It relates to inheritance because something like 90% of boomers own their own home, which means theres millions of millennials who are expecting to inherit those homes

Primary residence is the house you live in, that isnt an investment property, and the primary residence has always been exempt to these kinds of taxes, and primary residence has never been part of the assets tests for Pensions.

So basically

1. He wants to start including PRIMARY RESIDENCE on Asset tests for Pensions, and to add a Property Tax to the PRIMARY residence (on-top of council rates)

2. Since old people dont have much liquid assets (House Rich, Cash Poor) - they will allow people to defer the unrealized until they're dead and the house is sold

3. The defered unrealised taxes are index to inflation - so the taxes owed will compound, so a massive amount of taxes will end up being owed to the government on death.

The end result is, no inheritance for millennials. They're annoyed that some millennials have inherited homes now haven't paid any taxes on it because they didn't sell their parents house after they inherited it, so they want to begin taxing unrealised gains on the primary residence to ensure the government gets the asset instead of the family

technically he's wrong
but i still kinda feel like he's right

Yah Marx said to ban inheritance so that’s what they will do. They’ll die painfully it will happen.

I guess this is why some of the smarter people in 1st turd countries make sure they earn less than whatever that nation's tax threshold is. In Cuckstralia it's $19kAUD or something. If you can fanangle a home to live in and can afford to pay the rates/ utilities the Gov will give you money back at tax time generally. You certainly won't pay any. You will get shook down all your life in a multitude of other ways. But the big system relies on the fact that human nature sees people wanting more and more and more and to flourish. Human nature don't want to subsist or do without. So people are only to happy to jump on the mouse wheel forever. Social engineering makes sure people are stupid and always want more. And round and round things go.

I dunno we actually have both here so he could be right or partially right? In this shithole there's freehold and leasehold. Freehold means you own the house and the land it's on. Leasehold means you own the house, but the land belongs to the state and you are just leasing it. Kind of weird.

Ok got it. See my earlier post and the one or two after it. By the way, when I was a young man it never entered my head I would be lavished with my parent's house when they died. Evidently millenials have been told this. I've never heard that before but don't doubt it.

They're not outright banning inheritance, they're just going to tax you so hard that you'll have nothing left to leave for your kids

Their answer to

what if I cant afford to pay the unrealised gain on my house every year

Is to defer the taxes till death, which means they'll compound like crazy, and the amount owed to the state will end up being 100% of the value of the house, so the 1 asset normal everyday people are expected to inherit.... well that wont be a thing anymore.

some of the smarter people

neets ftw

House allegedly goes up. Remember you don’t know the real value until someone actually signs on the line and puts their money where there mouth is. Unrealized will be based on some government estimators expertise. Aka some chink they will over value white peoples houses to hike their taxes because chinks are extremely evil.

i think the plan is mum dies
gov says to kids ok you owe us 300k on a million house
pay up or be forced to
so now kids have no house and split 700k
cannot rebuy in

Jewish tricks in Australia edition.

Forever pushing people into the rental class. You'll own nothing and be happy. How is this good for the stability of the nation?

Something like 90% of boomers own a house

Most millennials are literally waiting for an inheritance to become home owners (single child) or to get a chance a buying a home (multiple kids getting split inheritance)

Considering the majority of boomers are HOUSE RICH and CASH POOR, most boomers will be defering their unrealised taxes on their home until death, which means there will not be inheritance for the majority of millennials whose parents own their own home but wont be able to afford paying unrealised gains tax on it every year

Well I'd be surprised if anywhere did. At the end of the day I'll bet you the contractual fineprint is there to fuck you. There may be some remote areas but even still Gov implements all manner of law on what citizens can do on properties. And if that's the case the property sure aint yours to do what you want with and on. Australian, American, Canadian colonies were declared "owned" in the name of King Whoever. They never relinquished any to peasants. I think a massive deep dive into contract will show this.

Well generally neets live at home with mum and dad. So they win nothing really.

Shit like this is why you can't give up your guns no matter how many mass shooting the government stages to scare you

t. university degree in relating field

yeah but it depends on the time

if your parents live from retirement at 65 (assuming thats when they start defering the tax) and they live for 20-30 years after that, the taxes will have compounded so high that it will be a 100% liquidation

True. But things like 911 show that if your Gov keeps fucking you in the anus and you don't use the guns you've got to march them out to a tall stage with a long drop, shit will just keep getting worse.

As long as Australia is undermined I support whatever does the most damage

On the mothership, a freehold is an entitlement to use land and pass it down, but you don't own it. If you find gold, iron, oil, etc. the state has the claim to it; you don't own the airspace; and if you die without an heir the crown reclaims the land.

I think it's always the Crown's. Nations have owners. Australia for example was claimed in the name of the King/ Royal family. Who themselves were probably fronts for cartels/ private owners. It's all the deepest of deep dives to get to the bottom of it. Not that I've done it. But from what I have gleaned...

reflect on this......my parents are pre baby boomers, im genX, they are in their 90's and will not die, gwahahaha, theyre sitting on two million dollar properties and; m glad i have nothing, i have literally subsisted for 57years

TKD now

ignore the flag I am from QLD

Obviously just sell it to your kid for $1?

Housing is an unproductive jewish speculation racket. Tax all homo owners.

We are living in very State heavy times with little wiggle room, massive doses of social engineering and behaviour modification. Comparable to a feudal system. But a feudal system with zero redeeming value in a world heavily sprayed, abused, shallow, cheap, superficial etc etc

It's to incentivize owning nothing

It's just going to encourage people to move elsewhere
And as global demographics age and eventually shrink, some nations will take advantage of the bad policies of others

OP=Chinese Wumao foreign interference troll

Don't give them oxygen

五毛滾開

I assume it means that if you inherit a house from your parents, you pay a tax that's a certain percentage of its assessed value.

primary residence

Buy an apartment, make that your family's primary residence (that's the address that's on all correspondence with the government, your identification, your tax forms, etc.). Rent it out to recoup the money. When your parents die, pay tax on that instead of your real primary home.

Yeah I think that's how it is. QLD here too. The devil is in the details...deep in contract, contract laws. The average person has zero chance of comprehending what they are actually agreeing to when they sign a contract. But I suppose if an org, institution or Gov hands you a contract and they'd be happy for you to sign it....you're losing. The whole topic gets into what gives any Governing body authority. How a human is supposed to understand babble/ law. Or to even have time enough in an entire lifetime to read the law. But that's part of the design. Because the big system has to have the power of God. You are the peasant.

You can't do that, you will pay the capital gains on what the state believes the value of the house is on sale

This price is given by the council. Its generally lower than the market rate, but still, you can't get around it doing this

You can just give the property to ur kid for $0, but the kid will still have to pay capital gains on it @ the value they think the house is worth (based on the figure given by the property rates)

Yep, got it. Essentially Gov is lavishing more of your families wealth upon itself. It's good to be the King, no? I mean its just further fuckery. Meanwhile they are gigs flooding this country with Africans, Indians, middle easterns, south sea islanders and their numbers will exponentially bloom from here on in. Which means this place is utterly fucked and we are nothing but a corporate franchise with the ability to only mumble "diversity is our strength as a national slogan. That is now the soul, the heart. A corporate slogan with all the substance of Orwell's 2+2=5.

Move to Florida. Buy a house and get a homestead exemption on it after a while.
I pay $1K property tax on a $200K+ house a year. No property taxes on cars, and no state income tax. Also, we just made gold and silver legal tender in Florida.
fox13news.com/news/gov-desantis-signs-bill-make-gold-silver-legal-tender-florida

Also, no vehicle inspections on private road vehicles, and no emissions standards either. Concealed-carry as well, also rock-solid castle law.

Confiscate all domestic wealth

Sell it to the CCP to get 1/2 the value because the market is collapsing and they're offering the best value

They rent to Indians

Actual pilfering. We have the same idiots here that propose the same and think funding the gov for 3 years after confiscating and sellign everything is a sound plan.

I believe I had a conversation with someone from Florida before and the upshot is that despite your no state tax, eventually you're coughing up the equivalent of anywhere else in tax. At least that's what I have heard. They get you on other things. Let's say tax was 30% in another state. You cough up 30% tax ultimately in some other state...it's not like in Florida you work the same job, whatever and you're only coughing up 10%. They get what they want out of everyone. Florida included. This is how it has been explained to me.

boomer taxed, millenials hardest hit

okay, unc

yeah true
the neets at least live on

valued at $5,000 instead of $3,000? Well. You need to pay taxes on that.

But you can write off the unrealised losses in your funkopos collection

grandma has a modest waterfront* house across from the most expensive island in australia
she's 95 and powering on
love you grandma
FUCKING DIE BITCH

to ensure the government gets the asset instead of the family

boomer wasn't gonna pass along shit. Pilpul detected

Sounds like it’s almost time to start hanging politicians.

Sure, we've definitely accepted a lot of shit, but that's mainly because people are naturally cowards who make decisions based on material considerations. No one wants to go to prison for life for shooting at politicians because the airport is now forcing them to take their shoes of for the security line. And so we lose freedoms in a bunch of small ways that individually wouldn't cause most people to risk their lives to protect.

However this unrealized gains tax is different. It is the government basically stealing your entire inheritance. Not a 1% tax here or 1.5% adjustment there, but straight up taking the property your parents bought for you, especially in a country where housing is insanely expensive in the big cities. I purchased my house in Los Angeles all by myself - didn't need my parents help, but its my understanding, and correct me if I'm wrong, that no normal salary earning Australian can afford themselves a house in Melbourne or Sydney.

My parents worked hard and accrued considerable wealth (net worth close to $10m). If the government was going to take my parents estate from them, I'm not leaving and I'll shoot whoever shows up to try and take it. People wouldn't tolerate this shit. Its a step too far.

In Florida we "tax" tourists and snowbirds(a LOT of them are rich). Snowbirds don't get the homestead exemption and pay a lot more in property taxes. Also, cities like Miami, Tampa, Orlando, Tallahassee, etc pay more in taxes. Florida has so many varied places you can pick that fit your needs if you wanna be a permanent resident. Stay to the north of Lake Okee, outside of cities.
If you live here, make sure you live inland and make sure you keep large trees away from your house, and hurricanes generally won't be an issue for you.

there's more guns in Australia today than there was pre martin bryant
everyone's just a faggot now

iono..google guilotine instructions or sumthin

no normal salary earning Australian can afford themselves a house in Melbourne or Sydney

correct but its housing everywhere now
a cbd house in 2000 cost what a house a few thousand KMs west costs today no shit

Gee, who would have thought voting communists back in was a bad idea?