Conservative Economics Explained | You know something’s wrong

There’s a basic flaw with government economic policy.

We’ve all felt it for a long time. Flat wages rising prices and worse and worse government services.

In this video Robert Reich explains and gives examples to show the flaw in conservative economic theory.

https://twitter.com/RBReich/status/926822853260976128/video/1

Foreigner workers, ABNs and the deregulation of labour market by stealth

As a landlord you need to help make sure your tenants are securely employed  http://snip.ly/365ct A MAcH 10 25 year lease solves your problem

Unemployment Labour Market ABN Visa

Foreigner workers, ABNs and the deregulation of labour market by stealth Posted by Michael West

“The biggest failure of public administration since the formation of the Commonwealth of Australia in 1900.” Australian Tax Office insider. “The result of having the wrong system where taxes are too high and a labour market which is over-regulated.” Liberal Party insider. We are talking about the broad, state-sanctioned, backdoor deregulation of Australia’s labour market, which has…

Source: Foreigner workers, ABNs and the deregulation of labour market by stealth

ATO investment property tax deductions

ATO Investment Property Tax Deductions FREE Video

Straight From The Australian Taxation Office

ATO investment property tax deductions are pretty straight forward. This video explains the basics.

ATO investment property tax deductions

 

ATO Investment Property Tax Deductions

Your tenants are in and they’re paying you rent and now it’s time to talk about what ATO investment property tax deductions you can claim.

Let’s talk about expenses you can claim.

Well my holiday house is available for rent so there are expenses I can claim immediately and some that I claim over a number of years. There’s also some I can’t claim at all things like;
  • the actual cost of buying and selling the property
  • initial repairs I had to make
  • those costs of use when working out any profit known as capital gain when I sell the property.
  • If I own the property equally with my wife I could only claim half the expenses and I would have to declare half the income.

We’ve talked about what you can’t claim what can you claim?

Immediate deductions like interest council rates and travel costs when I collect the rent and do repairs. There are also three types of expenses that may be claimed over a number of years;
  1. mortgage set up costs
    1. loan establishment fees these are usually claims over five years
    2. you can also claim for wearing out of assets known as depreciation such as
      1. carpets and appliances
    3. building costs these are generally claimed at two-and-a-half percent per year

What happens if you only rent your property out for some of the year?

I need to divide up the expenses so in my case with the holiday house I can’t claim a deduction for when I use the house myself.

What if you rent the property out at a reduced rate?

Say to two family or friends in that case what I can claim is usually limited to the amount of rent that I received.

There are specific exemptions for properties managed by Registered Housing Providers click below to find out about those “extra savings”

It sounds complicated but its not really. Let’s look at what happens when Michael stays in his house for one month. This is for his personal use so he can’t claim deductions for this period.

Here’s how we’d work it out. For all the expenses that occur evenly he could simply divide them by 12 to get a monthly rate that includes

  • interest
  • council rates
  • insurance
  • depreciation
Some things, like electricity are directly related to the usage period so we look at the bill for that period and work out what he can’t claim.
If you only rent out part of your property then you can only claim expenses that relate to that part as a general guide you work it out on a floor area basis and calculate what percentage of the floor area your tenant uses.
If your property is negatively geared that is the rental income is less than the loan interest and other expenses you may be able to claim the loss against your other income such as salaries and wages.
If you’d like to find out more and watch other videos in the series register below and we will let you know when they’re available.

automation

Lyft and Drive.ai Gear Up to Test Autonomous Ride Sharing

Most autonomous car companies see ridesharing and taxi services as the clearest way for fully autonomous vehicles to become useful and cost effective. Unsurprisingly, ridesharing companies (whose largest expense is paying human drivers) are in enthusiastic agreement. Lyft in particular has formed partnerships with GM’s Cruise Automation, Waymo, and nuTonomy.

Last week, Lyft announced a new autonomous vehicle partnership, this time with Drive.ai, who plans to deploy their deep learning-based autonomous vehicles in and around San Francisco.

Lucky San Franciscans can look forward to getting Lyfted by autonomous cars driven by deep learning

Source: Lyft and Drive.ai Gear Up to Test Autonomous Ride Sharing

Autonomous Robots Plant, Tend, and Harvest Entire Crop of Barley

Automation is hitting farming again! The 20th century got rid of the horses, will the 21st century see the end of the people?

So a farmer can sit in his unit on the Gold Coast while the ‘bots run things?

That;s gotta be good if we do it right.

 

 

 

This is as autonomous as farming gets, without any humans having to get themselves dirty, or even go outside

Source: Autonomous Robots Plant, Tend, and Harvest Entire Crop of Barley

As Amazon Pushes Forward With Robots, Workers Find New Roles

Jobs at Amazon are changing but total jobs for humans across the economy are falling. What is the answer? Less hours? Universal Basic Income?

Amazon is on the forefront of automation, finding new ways of getting robots to do the work once handled by human employees.

Source: As Amazon Pushes Forward With Robots, Workers Find New Roles

Twitter | Real Income Is In Negative Growth

<blockquote class=”twitter-tweet” data-lang=”en”><p lang=”en” dir=”ltr”>Even with the Oz Population Ponzi, real total employee income growth has turned negative. This has only occurred during economic downturns. <a href=”https://t.co/eAvdJBNDmQ”>pic.twitter.com/eAvdJBNDmQ</a></p>&mdash; Philip Soos (@PhilipSoos) <a href=”https://twitter.com/PhilipSoos/status/905780889032040448″>September 7, 2017</a></blockquote>
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