r/u_Newworldimpartiality

Are we heading down the path where legislation will force reserve prices at auction to sit within the agent’s price guide/range. If this is the case what happens if the agent has a legitimate honest range in mind and a vendor has a reserve that sits above the top end of the range. Which party should compromise and act against what they believe to be the correct figure?

For more than 150 years business people and entrepreneurs have identified opportunities in the Victorian economy and have been able to generate income from those opportunities . Sometimes these opportunities sit within the grey area of the law, but at the end of the day it has always been up to legislators , law enforcement and the judicial system to manage right from wrong. And over more than 150 years these opportunities have very often been accessed by the more ‘esteemed’ members of Melbourne society, often sipping drinks at highly regarded gentlemen’s clubs . So why is there so much hate towards the current participants in the ‘Big Build’ who have simply acted on opportunities in the system that have been presented to them? If we are looking for villains, start with law enforcement and government who oversee the environment under which the ‘Big Build’ operates.

It’s seems in Australia that Governments across the board will not slowdown their efforts to increase the size of the ‘public purse’, whether through higher taxation or reductions in tax deductibility. So where does that leave investors in Australia? As we know, uncertainty is the enemy of investment, and Federal and State Governments are struggling to provide confidence and certainty . My guess is the next 10 years will not be pretty . I am betting on increases in the GST, higher taxation of superannuation, death taxes by stealth, some kind taxation on the family home, and additional attempts to extract funds from the business/company sector.

It appears that many industry professionals promote the advantages of depreciation on new builds but very often it appears to me that they don’t go on to say that these initial tax deductions come at a cost. That is the deduction for depreciation is essentially ‘paid’ for by the investor upon the sale of the property when the cost base of the property is reduced by the amount of the depreciation. This is turn increases the capital gains tax payable by the investor on the sale.

We can all agree that the favourable tax treatment for superannuation in Australia makes it a very attractive investment proposition based on comparative returns against other investment options. However, for somebody starting their working life at say 20 yo the requirement to lock these funds away for around 40 years surely presents a risk. Given Australia’s debt position, and the ever increasing need for governments of all persuasions to source additional taxation revenue, what guarantees exist that sometime in the future Australia’s huge pool of superannuation will not be a larger target for government revenue? Adverse changes to the treatment of superannuation have already occurred and the problem is there is no ‘off ramp’ once you commit funds to superannuation . At the end of the day I suppose it comes down to trust - that is, will future governments continue to honour the favourable taxation status given to super? I’m not sure if I was 20 yo that I would trust any government to resist the temptation to ‘raid’ super as a source of revenue sometime in the next 40 years . What do you think?

Measures to address the unfairness of underquoting should not impinge on the rights of the seller, particularly with regard to their reserve price. In my opinion vendors should not be pressured to publicly disclose their reserve price or be bound by their reserve price if they choose not to be. A vendor should be allowed to change the reserve price during the auction and /or withdraw the house from sale during the auction if they are not happy with the progress of the auction.

In simple terms how can a person state that an alleged number or fact is incorrect when they do not have an alternative number or fact to compare it against. So is the credibility of that person in question when they make such a claim?

I’m not an expert on the GCC but I’m willing to learn . In particular I am curious about the role that the GCC plays in the Middle East with regard to Gaza, Palestinians and Southern Lebanon . I’m trying to work out whether the contribution made by the GCC extends beyond announcements of public support and humanitarian aid. Alternatively, maybe I should be asking myself whether the GCC does in fact have a role to play beyond providing this type of support. Can someone help me understand if the GCC could be doing more?