Sneaky trick

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1 yr ago

You have no doubt heard or read about how the Government would financially assist many to get into a home of their own.

I have had a few emails about it from our kids friends (via the son) who are excited about it. That is until I told them that you will never own your own home 100% as the Goverment will own 40%.

That's a trap and I can see in the future if those youngsters decide to sell, they would have to pay out the Government 40% of the sale price. What if they decided to stop you from selling? Well they own 40% so are part owners.

Sadly there's no definitive price - ie $25,000 for example. That would be better and more fair. If a property was bought for $300K and in the future that area boomed and you sold for a million, sadly the Government would hold their hand out for 40%, and that's a fact.

Definite food for thought.

5 comments

Lucca

1 yr ago

Yep, life won't be easy under Albanese!!! He wants your house and he wants it now!

Horace Cope

1 yr ago

Labor's housing policy has been costed at $329M over 4 years but the if we take the proposed 10,000 home buyers who will be assisted and if we take an average of homes worth $600.000 and Labor's 30/40% then the lowest contribution would be $1,800M and the highest would be $2,400M. Add into this that if a borrower gets a substantial pay rise or changes occupation for a higher pay then they will either have to repay the government or sell. If they sell the government will get 30/40% of the sale price, not the home owner.

On the topic of Labor's costing, the proposed support of $10,000 for up to 5000 university places for those studying to be a teacher has been costed at a "modest" $50M. Unlike the housing policy which is costed over 4 years, this policy is costed for the first year. Because the $10,000 is paid each of the 4 years of study, the second year will cost $100M, the third year will cost $150M and the fourth and all subsequent years will cost $200M. It seems that the charge of Labor being unable to handle the Treasury benches has some merit.

Sceptic

1 yr ago

Hey Sneaky Trick! Is the sneaky trick saying that is the Government's plan, when it is in fact the ALP in opposition's plan if it gets elected.

Beemee

1 yr ago

I have no idea really who brought the whole ting up, in fact I don't care. All I know is no matter what Government gets in, they will always swindle money out of the lower in come earners and the pensioners. When the Government gives you something, there are always strings attached.

After hearing the debate between the two 3 year olds, I decided this time I am voting for someone else. The preferences may go to blithering Uneasy or blustering Coalmo, but I am hoping enough Independents will sway whatever these two fools want to do. Neither have said a word about climate change, or renewables, or anything for all those in the bush fires or floods. I am fed up with both and in fact all 4 major parties. None of of them can lay straight in bed. Just wait till the votes are all in and one is now PM, all of a sudden they will say I can't do this or that because there isn't enough money in the coffers.

The old saying bears true "A leopard can't change his spots" and there is no way blustering Coalmo will ever change, he carries on like a bull in a china shop. My point of "wake up" came when I heard scomo say "I want to do what is best for Australia", The words "I want" rang out like the liberty bell. That's the who point, he is "I want" and it should be "What the people want". We pay that klutz his wages so do as we say not as you want.

Sue Ridge

1 yr ago

You know, Beemee, your request to "do as we say" is when you get the absolute privilege of casting your vote. That's when you get to choose which person in your electorate will do the best for you; the person whose policies are in sync with your wishes.

Tood

1 yr ago

Get your facts straight Beemee!

Beemee

1 yr ago

I did and I do. Info comes from a Minister friend. If you wish to bury your head - go right ahead.

If this is taken up by the younger generation to access their super, that will be a financial collapse of superfunds, hope you aren't in one.

Didn't you see the stuff up on TV or were you asleep at the time?

Example given - Take out $50k from super (the maximum), Add your 5% deposit, then buy home at $500K.

Years down the road you sell. The house with inflation is now worth $1 million. You are to put back the $50K you took out PLUS another $50K and you can live on the rest. RIGHT HERE that means $1 million minus $100K equals $900K. Well not according the idiot on TV News who explained it. He said $450K to live on. What the hell happened to the other $350K ????

Even a kid in primary school would do a better math than that! But if it wasn't an error - that's suspicious.

Axel

1 yr ago

BeeMee,

you always have such interesting friends and informed contacts.

Beemee

1 yr ago

Yes Axel and it comes from former employment although now I am retired. I have still kept in contact with many. Some are via a girlfriend whose brother is a Minister in Parliament. Just because you retire, it doesn't mean you drop the friendship of those you once worked with everyday and for years.

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