political change is coming

[cadet]

That Australians have for years been tipping their money into residential property as a way to get ahead and build wealth, rather than into business, manufacturing, and innovation, and that there have been incredibly generous tax incentives and concessions to do it, has had the perverse outcome of smashing productive economic growth. It's well past time that was addressed. Reform was beyond necessary. Policy settings as they've been for a couple of decades under all governments now have been hollowing out the middle class that drives national prosperity. Something had to change. Is this the right set of changes? Hard to say until I've read and parsed what the actual changes are and how they affect me, and other middle Australians long term; consulted my accountant and advisor after they've had a chance to digest things; and read the musings of intelligent economists like Kohler, Richardson et al; but leaving things as they were was not going to drive improvement for an aspirational middle class. Too much GDP and national wealth is tied up in and driven by residential property, which is essentially economically unproductive; and GDP growth has been propped up by immigration, rather than actual productivity. I'm inclined to think that the mainstream legacy media - essentially mouthpieces for the rent-seeking and billionaire class - and who have a direct financial (conflict of) interest through real estate sales platforms in a roaring, over-priced property market - screaming blue murder is probably an indication that this is a positive start. The budget appears not to have touched resource taxes though, so our gas especially essentially continues to be given away for free.

[Fester]

Every politician who hits the big time puts their money into houses, and never looks back. Look at Joe Hokey and the house he bought, ripping off an Aussie with no estate agent or lawyer, apart from Joe and his old man.
Then rent it to other polies to claim their living away allowances, "all within the rules", just like the party girl Anneka.

As for normal mom and dad investors, I think they should all have the choice to negative gear at least, their first one.
A mate that has always worked for himself and set himself up well reckons positive gearing is the way, and better than any govt dealings and rorts.
How many normal Aussie that do it themselves, not born with a silver spoon, or marrying into it, do it through renos and houses.
You can't blame them for not trusting the super.

I lost count on another old mates renos, last I heard he was doing Qld ones and moved up there.
He was like a merchant navy tradie, and a proper engineer, so much bigger wages and the wife was an investor in her own right.
Even he got done in when the govt just dumped the goods shipping industry overnight, they all lost their jobs.
The cretins just let Chinese or other Asian companies take over, much cheaper.