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Re: General Discussions

Reply #2595 –
Quote from: LP – on
Quote from: Gointocarlton – on
I would be gobsmacked if Ferrari copied any American crapheap that ever existed.
Fisker is the coachbuilder / designer involved in multiple classics from BMW, Astin Martin, Tesla, Bentley, Mercedes and Maserati just to name a few. His designs are copied mercilessly, and his efforts to establish his own brand were basically crushed by the world of old money.
Which Maserati were Fisker involved with?
2021-Pi$$ or get off the pot
2022- Real Deal or more of the same? 0.6%
2023- "Raise the Standard" - M. Voss Another year wasted Bar Set
2024-Back to the drawing boardNo excuses, its time
2025-Carlton can win the 2025 AFL Premiership

Re: General Discussions

Reply #2596 –
Quote from: Gointocarlton – on
Which Maserati were Fisker involved with?
I can't name specific models, but you see his influence in bodies. It was after he left BMW to join Ford. Ford supported lots of companies through the auto industry crisis in the early 2000s. One of those efforts was the Ford Design Centre headed by Fisker, effectively a gun for hire for anybody up until he launched the Karma prototypes. Fiat(Ferrari and Maserati), Mercedes, Chrysler, Tesla, etc, etc, all took assistance donated and funded by Ford.

Primarily his design influence kicked of with the BMW Z8, which gained so much popularity they could no longer just build them exclusively in the USA with leadtimes exceeding 18 months. So they built a second factory in China, that is when BMW quality started sliding. The US site was a quality and automation benchmark, China a low cost labor high volume knockoff. Now the U.S. factories are closing, and the public happily accepts cheap rubbish in the TEMU version.

There is that specific Fisker front end look you can follow, if there are denials about his involvement and influence that's pride speaking.

It would be truly ironic for Italian built anything to label a U.S. competitors crap trucks, that's the pot calling the kettle. Italy's biggest manufacturing boat anchor is inconsistent quality and finish. It's A-grade for design and innovation, but craphouse at manufacturing, cars would be falling apart as they left the dealership car park. That's part of the romance of Italian marques.

Having said that, if you collect get a Alfa Romeo Gulia Quadrafolio, they will probably be the last and best ICE sedan like sports car ever built in the class. Uses a V6 version of the Ferrari V8, the V6 turned out to be a better engine than it's V8 parent. Only problem for secondhand can be owners tend to be brats who flog the life out of them.
"Extremists on either side will always meet in the Middle!"

Re: General Discussions

Reply #2597 –
Im seeing a lot of talk these days about housing affordability and certain schemes the government continue coming up with to try and make this problem better. 

Effectively, almost every single thing they do to try and fix the issue of too much demand, not enough supply, invariably comes around to not really make one iota of difference because the fundamental issue is still the same.  People buy assets, because that is the only way to beat inflation.  Nothing more, nothing less.   Changing the capital gains tax is the latest.

Im neither here nor there on this.  I have seen people attack negative gearing, capital gains tax discounts, and various other schemes that effectively get used by people to help build wealth and the argument is, it makes everything cost more.  This to me is actually, bullcrap.  Ive had a look at it, on the surface of it, its a "fairer for australians, around asset investment" but in reality, its a big ponzi cash grab by the government that serves only to take money out of peoples pockets, and give it to the government. 

Why?  Here is the real world example of what it means for someone who has a 100k a year income, and then realises a capital gain on a 500k investment property hat has appreciated to a million after holding for 2 years (making the numbers simple and ensuring they qualify for the CGT discount):

Current system with a 50% CGT discount:
Tax outcome (simplified marginal rates FY-style)

Apply discount
$500,000 × 50% = $250,000 taxable capital gain
Step 2: Add to income
Salary: $100,000
Taxable capital gain: $250,000
Total taxable income = $350,000
At $350k income, you're in the top marginal bracket (45% + Medicare levy) for most of that CGT portion.

We’ll approximate:
First $100k taxed progressively (salary)
The $250k CGT is mostly taxed at ~45% + 2% Medicare ≈ 47% effective
CGT tax:
$250,000 × 47% ≈ $117,500 tax


Hypothetical with a 25% discount:
Step 1: Apply reduced discount
$500,000 × 25% = $375,000 taxable capital gain
Step 2: Add to income
Salary: $100,000
CGT: $375,000
Total taxable income = $475,000

Comparison:
50% discount: taxable CGT 250k - Approx CGT Tax 117,500.
25% discount: taxable CGT 375k - Approx CGT Tax 176,500.

The indvidual is out of pocket an extra $58750.   The problem I see is that doesnt solve any problems, and serves only to give money to the government. 

It doesnt de-incentivise investment.
It wont significantly reduce pricing.
The ones most likely to cop it in the neck are not going to make on an paper gain to prevent losing money.
It actually reduces the incentive to develop property as it will reduce the profit margin significantly on property not attaining a CGT discount. 

The flow on effect to the stock market is likely to cause a lot of headaches and not really solve any problems, because you CGT applies to all Captial Investments not just property. 

What a mess.  Who comes up with this stuff?
"everything you know is wrong"

Paul Hewson

Re: General Discussions

Reply #2598 –
Chalmers is real desperate with debt levels climbing and a Federal Budget looming where he has promised tax cuts and give aways but doesnt really have the money but Albo cant have the voters without some free gifts.
Gentleman Jim wants to go back to 2006 and retrospectively try to claim CGT and over rule court rulings.The proposed law aims to override two 2025 Federal Court rulings that favored foreign investors (Newmont and YTL Power) regarding the sale of assets, which the ATO had previously pursued. Those assets at the time included wind turbines, solar panels, and batteries, of course Australia would be looking at Foreign Investment for any upgrades or new infrastructure whatever Energy programs they decide for the future but its hard to see Foreign Investors trusting the Aus Government if this legislation gets backdated to 2006.

@Thryleon....ie you look at Government Housing building programs and in particular the HAFF and its just a conga line of corruption....ex Labor Politicians running Super Funds that are investing in the HAFF with CMFEU officials on the Cbus board and with the CFMEU doing the building works and with Swan delaying payments to CBUS members and the Government unable to provide solid figures on the number of houses built. If your a CBUS member do you really want your money going to the CMFEU?

Re: General Discussions

Reply #2599 –
Who knows, but if you look into the CGT thing a little deeper, what do the truly rich do?  They buy assets, they borrow money against those assets, to buy more assets, and then declare on paper losses every year to avoid paying tax.

Will these CGT discounts hurt them?  Not likely.  I know everyone fears the word recession but the reality is, that hyper inflation only leads to escalating costs that never go backwards.
"everything you know is wrong"

Paul Hewson

Re: General Discussions

Reply #2600 –
@Thryleon‍ I agree with you 100%, there is way too many using debt to increase capital, it forces them to bump rental rates and increase reserve prices because they will drown otherwise. So it's not real wealth but it's very real debt. If a recession genuinely hits, like the one that Thatcher experienced in the UK, they are screwed and I think it's only when not if.

You aren't a millionaire or billionaire if the bank owns 90%, you're just living at the expense of others.

Something needs to be done to slow the market down so that it grows at the same rate as wealth, of course the estate agents will cry poor, you know the ones driving the new Porsche Cayenne 12 months into a realty career!

Also, on the big end of town. We must stop people like Reinhart outbidding the competition for mining / land rights, then just sitting on the resource gaining value while they have no intent of ever developing. No local jobs, no new infrastructure, no paying tax, just shuffling paper and buying investment properties.
"Extremists on either side will always meet in the Middle!"

Re: General Discussions

Reply #2601 –
There are plenty of battlers out there who don't fit into the 'rich billionaire' mold.

I'm having to sell an investment property courtesy of years of interest rate rises and cost of living going through the roof, fuel prices etc.

To top it all off the renters stopped paying rent and damaged the place on the way out....including taking the hill hoist away.

No point going through VCAT, so i've just gotta fit the bill for all that, and suck up 2x mortgages while i spend all my weekends getting it back to normal ready to sell.

I mean, who steals a clothes line FFS!

Re: General Discussions

Reply #2602 –
Quote from: kruddler – on
I'm having to sell an investment property courtesy of years of interest rate rises and cost of living going through the roof, fuel prices etc.
Yes, that just sucks.

But the mum and dad investors are not the problem. It's the kids who have two dozen properties with three dozen mortgages that are screwing you over by driving up interest rates primarily due to inflated risk and demand.

Oddly millennials often blame the baby boomers, but again the person with an investment property as part of a self-managed superfund isn't really the problem because they exert almost no pressure on the market, they are in it for the long term.

At the moment my area is crazily inflated courtesy of the inner-city millennials who moved out during COVID. The bought high renovated and fecked off back to the city the moment restrictions were lifted leaving Toorak price tags on everything. They don't live around here anymore, very few of them rent or AirBnB the properties, so the whole region is effectively diminished for traders that sends small business broke. Then they roll up at the weekend and complain about the lack of the retail services that they helped break.
"Extremists on either side will always meet in the Middle!"

Re: General Discussions

Reply #2603 –
And trying to sell a property in Vic outside Melbourne is basically impossible now but hey, here's tens of thousands on unscheduled taxes for your trouble.
DrE is no more... you ok with that harmonica man?

Re: General Discussions

Reply #2604 –
The current system is unsustainable.
Our kids cannot afford to buy a home.

The only solution is that existing property owners take a bath, we reset and move to a future where residential property is NOT the key wealth driver for the nation.

Sometimes it suks to be you but in the national interest and the futures of our children and grandchildren we are going to wear the pain.

Mr Gerkins take below:

https://www.facebook.com/100064574628678/posts/pfbid0MS8ubudkPAob2zFmQVjLRA6jiPTPuDCPLg6LYcxU6uDQtss9beCZSYSrdcoLEmopl/
Let’s go BIG !

Re: General Discussions

Reply #2605 –
It's not going to fix anything, the current generation doesn't want to wait for anything, they hurt their own prospects by too many expecting fully furnished designer styling from day one.

In our first homes, pretty much everything came from the secondhand shop, and in modern times "secondhand shops" won't even accept the stuff we were buying back then, they want labels and collectables.

Even shops like The Salvos and Savers are full of designer labels cheap, because that is the only stuff modern kids will buy.

btw., I have to correct a misnomer here, people(knuckleheads) think The Salvos and Savers are for "poor people to shop at", that's completely wrong! The people those charity shops raise money for are living in cardboard boxes and under bridges and don't shop at The Salvos or Savers, they eat out of bins. The Salvos and Savers outlets need you to shop for recycled or secondhand goods in store so they can raise cash to fund the purchase of stuff they really need, medical supplies, food, accommodation, etc., etc... If you want some old clothes to wear gardening, concreting, fishing, painting, pretty much anything, or if you'd like a kettle for the shed, a jobsite microwave, or a spare corded power tool for when the battery dies, shop at The Salvos or Savers, don't shop secondhand at joints like Cash Converters.
"Extremists on either side will always meet in the Middle!"
 

Re: General Discussions

Reply #2606 –
Quote from: northernblue – on
The current system is unsustainable.
Our kids cannot afford to buy a home.

The only solution is that existing property owners take a bath, we reset and move to a future where residential property is NOT the key wealth driver for the nation.

Sometimes it suks to be you but in the national interest and the futures of our children and grandchildren we are going to wear the pain.

Mr Gerkins take below:

https://www.facebook.com/100064574628678/posts/pfbid0MS8ubudkPAob2zFmQVjLRA6jiPTPuDCPLg6LYcxU6uDQtss9beCZSYSrdcoLEmopl/
yes but, the current system will be sustained because whilst you talk about pain, you need to look at things microeconomically.

The asset stores value and appreciates in line with inflation.  This is true of housing and things like the stock market.

The amount of wealth that will be destroyed, and the economic damage it will do will hit unilaterally.  House prices and values would also impact stock markets, will impact pensions, will impact taxes.

You cannot fix the house pricing issues which is not enough supply to meet demand, by changing economic conditions around taxes and pricing. 

The real problem is that inflation underpins the stock market rise which also is where the majority of Australians have their superannuation tied to.  Stock market tanks, super tanks,  pensions tank.  Then people need retirement support that comes from the government and brings in yet more challenges.

Those challenges are that my generation (millenial) isnt going to get a pension.  We are going to have any retirement fuelled by superannuation which ive had since I was 14 and 9 months and started working.  Between myself and my wife thats grown to a decently sizable number but it pales into insignificant compared to house values and costs of living and its growth is tied to the same inflationary pressures that are pushing the cost of everything up.

Any of our investments are also going to be adversely impacted and where we chose prudent financial strategies our peers not always did, and that is why we have two properties thats main store of value is capital growth, where our debt levels have barely moved over the 20 or so years we have been paying mortgages for. 

I dont know what the answers are but there are apartments and units a plenty out there and people dont seem to want to buy them and myopia reigns supreme where people want to live where they grew up.  I did too, but it was unaffordable for us so we moved 20 kilometres elsewhere. 
"everything you know is wrong"

Paul Hewson