Could someone tell me what the point is in investing in property? Just received my land tax bill today for $7500! I understand many of you would be paying triple this amount but it seems to me the Government does not want you to get ahead in life. They want us to be self managed retirees but what are the incentives of working hard, investing now for the future, and then to be taxed to the max.
I have lost my passion for property and no longer believe you can make a return from buy and hold.
When you purchase a property their is stamp duty.
When you hold their is land tax, rates, water rates, insurance, maintenance.
When you decide to sell their is CGT.
It seems to me the tax man gets more of the cut than me??
I am better off working 9 to 5, blow my money now and enjoy life and get the pension when I am 65.
Does any one agree or am I just grumpy for no reason?
I have lost my passion for property and no longer believe you can make a return from buy and hold.
When you purchase a property their is stamp duty.
When you hold their is land tax, rates, water rates, insurance, maintenance.
When you decide to sell their is CGT.
It seems to me the tax man gets more of the cut than me??
I am better off working 9 to 5, blow my money now and enjoy life and get the pension when I am 65.
Does any one agree or am I just grumpy for no reason?