WAGES CRISIS threatens to cause a financial meltdown, killing a ‘fair go’

 

The Authors have offered some policy prescriptions … Australians need a pay rise not mere cuts to energy costs …

With greater scope for industry-level collective bargaining and pay settlements

The LNP Government policies favouring the Top End of Town, business and wealthy foreign buyers with high immigration and Visa Manipulation escalated competition and prices for housing …

MEANWHILE … low wages growth is undermining financial stability … rendering a Whole Cohort of Australians locked out of home ownership in their own country, joining renter queues with the best on offer in future mooted being  lifelong tenants in “Build to Rent” projects …

In turn low wages are curtailing Australia’s economic growth, forcing people into indebtedness, deepening inequality, and undermining the Australian principle of “A Fair Go” …

Contrary to the LNP many cannot “have a go!”  Or as someone was heard to say “have another go” … FFS …

 

WAGES CRISIS threatens to cause a financial meltdown, killing a ‘fair go’

ANALYSIS

THURSDAY 29 NOVEMBER 2018

 

Low wages growth is undermining financial stability, curtailing economic growth, driving people into dangerous indebtedness, deepening inequality and undermining the Australian social compact built on the principle of a “fair go”.

That’s the conclusion of a new book produced by some of Australia’s leading labour market scholars and researchers, The Wages Crisis in Australia.

“The impact of stagnant wages goes further than subdued consumer spending. The resulting precarity in household financial stability is … a potentially more dangerous consequence of flatlining wages,” argue the book’s editors, labour law academics Andrew Stewart and Tess Hardy, and economist Jim Stanford of the Centre for Future Work.

“Wages stagnation [is] contributing greatly to rising financial fragility.”

Australia’s household debt levels — among the highest in the world — have received a lot of attention, but there has been less focus on “the income of households, the crucial determinant of their capacity to carry debt”, the authors said.

“The deceleration of wages … both compels households to borrow, while simultaneously undermining their ability to service their resulting debts.”

Inequality is increasing as the share of national income going to wages shrinks and a greater share goes to investment income and business profits, the book argues.

“Facing stagnant pay packets, rising prices for essentials and pervasive insecurity, many Australians are losing confidence that they will ever share fully in the fruits of economic progress,” it says.

The damage “could extend well beyond the economy, and eventually jeopardise the stability of our social and political institutions“.

*”The rise of divisive and xenophobic ideas in many communities, and the fragmentation and extremism which now characterise much political discourse, can at least partly be understood as consequences of the loss of confidence among Australians that they have a realistic opportunity to share in future prosperity.”

‘Market forces alone will not solve the problem’

Reserve Bank governor Philip Lowe has acknowledged the existence of a “wages crisis” and warned that low wages growth is undermining a sense of “shared prosperity”.

 

But, in common with many economists, most employer advocates and Prime Minister Scott Morrison, the central bank argues that market forces will resolve the problem over time.

*The authors disagree.

“Market forces alone will not solve the problem of faltering wages growth,” they argue.

It’s a view shared by all of the book’s contributors, who contend that there has been a structural shift in workers’ bargaining power.

*It advocates a reform agenda involving new forms of regulation, few of which are likely to be supported by employer associations or business lobby groups.

In common with the ACTU, the book advocates an end to the “near-exclusive orientation around enterprise-level bargaining” with greater scope for industry-level collective bargaining and pay settlements.

This is certain to be vehemently opposed by business groups who argue it could undermine productivity and flexibility that arises from agreement-making tailored to specific firms.

The editors acknowledge that industry bargaining “raises many important and complex issues” but argue that, in the short term, the existing enterprise bargaining system could be complimented by a new stream of industry-level bargaining where the Fair Work Commission “is satisfied that there are practical constraints on the ability of employees and their employers to bargain at the enterprise level”.

Governments should lead the way to bigger pay rises

The book calls for the “ending of wage suppression by government”, the largest employer in the country, with strong influence also on the wages paid in various sectors that rely on government funding or contracts for their earnings.

“The contradiction between the hand-wringing of political leaders over the disappointing trajectory of wages, and their own conscious actions to directly suppress wage growth within such a large and important section of the labour market, is both galling and counterproductive.”

Ways to stop companies dodging or outsourcing “employment responsibilities” by hiring people in sham contracting arrangements or categorising them as self-employed small business people are also canvassed in the book.

 

It says the definition of “employee” should be broadened by legislation so that “anyone who agrees to provide their personal labour should be presumed to be an employee unless there is clear evidence that they have a genuine independent business of their own”.

“Any policy response needs to be multi-faceted,” the book acknowledges.

“There is no silver bullet that can restore ‘normal’ wages growth on its own.”

Stephen Long was a participant in a seminar at Adelaide University earlier this year, which gave rise to the book.

SOURCE:  https://www.abc.net.au/news/2018-11-29/wages-stagnation-threatens-financial-stability/10561348

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ATO goes soft on illegal foreign home buyers

ATO goes soft on illegal foreign home buyers

This comment sums it up …

‘Yep our pollies are deliberately running a protection racket for foreign white collar criminals in sectors that support our GDP.

The vast families of Chinese triads associated with banking, drug and RE development money desperately needing to be laundered into countries such as Australia that protect them.

Our rent-seeking politicians wonder why their falling in the polls….. “debt-slavery” for citizens, “protection rackets” for international criminals.’

Also view CAAN:  “AUSTRALIA not just Victoria … the top spot for foreign property buyer breaches” but LVO goes harder on Tax Bureaucrats …

https://caanhousinginequalitywithaussieslockedout.wordpress.com/2018/11/28/4795/?fbclid=IwAR1r7A1BAe0ERB05RfJEPJ4aZW8ml470mzDGYa_kycixep0609MraWHfk_o

 

 

 

ATO goes soft on illegal foreign home buyers

By Leith van Onselen

Yesterday, a Senate hearing into Managing Compliance with Foreign Investment Obligations for Residential Real Estateheard that Victoria (read Melbourne) is the nation’s hotbed for illegal foreign purchases of Australian property. It also heard that the ATO has gone soft on enforcement. From Domain:

Victoria has seen 877 breaches in foreign investment regulations since 2015… The state makes up 55 per cent of the national total.

Some 18 of the top 20 postcodes for breaches are in Victoria, with Glen Waverley and Box Hill among the Victorian areas to make the top 10.

Education of investors – and “intermediaries” such as conveyancers – was highlighted as an issue, after deputy chair of the Joint Committee of Public Accounts and Audit Julian Hill asked why Victoria was leading the charge…

Questions were also raised over why developers, real estate agents or conveyancers were not being fined for breaches, or for not reporting “dodgy deals.”

“We do seek … to make sure that we have an intermediary sector than can assist rather than punish people for a lack of knowledge,” Ms Robinson said.

Nationally, 1067 financial penalties had been handed out for breaches to laws totalling more than $5 million.

There were also 316 forced property sales in the past two years.

Here’s more from The ABC:

Since May 2015, when the Federal Government announced a package of budget measures aimed at making it harder for people offshore to invest in Australia, there had been forced disposal of 316 properties worth about $300 million.

Mr Konza said this was a “significant amount of action”.

But Julian Hill, deputy chair of the Joint Committee of Public Accounts and Audit, said: “I’m not getting that sense of confidence that you interrogate this data in a proactive way,” adding that the agency needed to go after intermediaries, such as property developers, who are facilitating illegal purchases.

“Why out of all those breaches have you not prosecuted anyone?” Mr Hill asked…

Mr Hill noted, “The average $5,000 penalty is not much of a deterrent”.

He also asked whether so far, in the cases of the 316 forced disposals, the investors were able to keep the capital gain. Mr Konza responded, yes if there was a capital gain, but said he would take the question on notice to be sure.

That Victoria is leading the way in illegal activity is not surprising, given it has also led the NAB residential property survey for the past four years:

More importantly, this is pathetic enforcement by the ATO. $5,000 average fines and allowing illegal buyers to keep their capital gain is hardly a deterrent and represents a tiny cost of doing business.

Moreover, there has been not one prosecution of third parties (e.g. real estate agents, developers or conveyancers) for facilitating an illegal sale.

This comes despite a foreign national found having purchased an established dwelling without prior Foreign Investment Review Board (FIRB) approval, or having failed to dispose of a property once they have left Australia (in the case of temporary residents), facing the following penalties under the legislation:

  • Criminal penalty of $135,000 or 3 years imprisonment; or
  • Civil penalty of the capital gain made on divestment of the property or 25% of the purchase price or market value of the property (whichever is greater).

*Third parties that knowingly assist foreigners to illegally purchase Australian homes are also supposed to face penalties of $45,000 individually or $225,000 for a company, under the legislation.

We already know that the Coalition Government has shelved the promised implementation of anti-money laundering rules for real estate gate-keepers, despite warnings from the global regulator, the Paris-based Financial Action Taskforce, that Australian homes are a haven for laundered funds, particularly from China, and similar warnings from AUSTRAC.

Now the ATO’s surveillance/enforcement actions against illegal foreign buyers have gone missing in action as well.

Clearly, the Australian Government has little genuine interest in policing illegal foreign buyers of real estate, and is tacitly complicit with the dirty money flooding into Australia’s homes and robbing young Australians of a housing future.

unconventionaleconomist@hotmail.com

 

ATO goes soft on illegal foreign home buyers

SOURCE:  https://www.macrobusiness.com.au/2018/11/ato-goes-soft-illegal-foreign-home-buyers/?fbclid=IwAR3KQ4lB5IoUDgeJb4blQoV10Zz8Q4zKEimWVanCgAxnFOHf82BzkaHfhuk

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TASMANIA’s HOUSING CRISIS …View Links

TASMANIA’S HOUSING CRISIS


  1. Hobart rents hit record high, with online searches eclipsing those for Melbourne


  2. Push for inquiry into Airbnb as Tasmanian housing woes continue


  3. Families unable to find rentals in Hobart are camping instead


  4. Breakthrough for homeless families as Housing Tasmania urged to release empty homes


  5. Government plays matchmaker with landlords and low-income renters


  6. UTAS unveils $50m plan to fix ‘unsatisfactory’ student living arrangements


  7. Airbnb spreading to Hobart’s outer suburbs, tenants’ union warns


  8. ‘No Tasmanians should be without a home’: Crown land release to ease crisis


  9. Families searching for rental homes label Tasmanian housing summit ‘all talk’


  10. Joke’s over — Tasmania is on the way back


  11. ‘It’s bedlam’: Tasmania’s economic boom leads to housing shortage


  12. Hobart’s new arrivals being greeted by a planning and housing crisis

 

 

Rent pressures biting into Christmas budgets as Hobart market tightens further

THURSDAY 29 NOVEMBER 2018

The affordability of rental properties in Hobart and surrounds has nosedived to its lowest point in six years, the latest figures from the Rental Affordability Index found.

ALSO VIEW “TASMANIA’S HOUSING CRISIS … VIEW LINKS” ON CAAN WEBSITE

 

Yet another damning report has further cemented Hobart’s title as the most unaffordable capital city in the country, with Hobart, Sandy Bay, North, West and South Hobart, Kingston and Margate rated as unaffordable for median households on an average wage, while New Town and Lenah Valley also fast becoming unattainable.

The disparity between soaring rent prices and stagnating wages, coupled with a shortage of properties on the rental market, has caused affordability to slip by a further 12 index points in the past two years.

With a rising poverty line, the issue is not one that is confined to those on welfare, but one that is increasingly impacting middle Australia.

The Brotherhood of St Laurence’s executive director, Conny Lenneberg, estimated half of all households in Hobart are experiencing rental stress.

“[There is a] thin financial buffer that throws [people] into absolute crisis from living on the edge and just managing,” she said.

Hobart scored 101 on the rental affordability index in the June quarter of this year, meaning most households are devoting at least 30 per cent of their income to keeping a rented roof over their head.

Spiral of despair over homelessness

As Airbnb tightens its grip on the state’s rental market, Tasmania’s years long housing crisis deepens — one that Hobart resident Kate found herself at the centre of.

The 43-year-old, who did not wish for her last name to be published, found herself “trapped” with a drastically reduced income when she and her partner separated, living for two years on a day-to-day basis in the face of continually climbing costs.

“The rents just kept going up and yet my income didn’t, so I was living in an untenable situation for some time,” she said.

The single mother sacrificed meals, hot showers, electricity, medical appointments and the use of her car in order to provide her six-year-old son with a “normal” life and roof over their heads.

“You can’t plan for the future, you can’t even plan what school your child will be at year to year when you’re living in that kind of insecurity,” she said.

“It’s not just insecurity that impacts parents, it impacts children as well and it disrupts families.”

Her social life also took a hit as most outings cost money she could not find, leaving her socially isolated.

“You end up feeling like a failure and it impacts your self-esteem and it can spiral into a situation where you feel so low, you just withdraw further,” she said.

Demand up 80 per cent for support services

Kate, who is also the administrator of Facebook page ‘Hobartians Facing Homelessness’ with more than 2,700 members, said a “phenomenal number” of people are in the same boat as her and “desperate for help”.

And as 2018 hurtles towards the Christmas season, more and more properties are being listed online to cater for increasing tourism numbers.

“I personally know countless people…families who have been given short term notices to vacate as houses go online for Airbnb,” she said.

“We need more rights for tenants, more security of tenure and really need the Airbnb industry to be seriously reviewed and regulated.”

Meanwhile, executive officer of Uniting Tasmania, Jeremey Pettet, is at the forefront of those in need providing emergency, food, clothing and financial support to those struggling.

He said the alarming number of people living in crisis is becoming the norm.

“We’ve had more than 1,600 families access our services in the last 12 months — that’s an 80 per cent increase on the year before,” he said.

“It beggars belief, people shouldn’t be experiencing this in Australia in 2018.

“We’re supporting people everyday who have jobs, but many people are finding they’re one unexpected bill away from a crisis.”

Mr Pettet said things will only get worse over Christmas with struggling parents having to choose between basic necessities and presents for their children.

“Australia is a lucky country, no parent should ever have to make that choice,” he said.

 

SOURCE:  https://www.abc.net.au/news/2018-11-29/hobart-housing-crisis-rental-pressure/10563586

 

AUSTRALIANS HAVE SEEN THIS PATTERN BEFORE … Already Hit by the China Wave … Another from India is too frightening to contemplate!

 

THE CHINA WAVE …. hit AUSTRALIA … and we continue to reel from its consequences … with the impact of its 1.4 BILLION People

LET’S dodge an INDIAN WAVE of 1.3 BILLION People for our Wide Brown Land! WT *

Ketan Patel, an ethnic Indian now a strategist and investor having advised China’s Xi Jinping and India’s Narendra Modi on economic strategy with India on a trajectory over the next 10 years of driving a mighty URBANISATION – like that of China!

Patel has been visiting Australia for two decades encourages Australia to be bold.

BUT JAPAN was clever in building a vast high-speed rail network across India – a venture which has had no negative consequences of high immigration and Visa Manipulation for Japan like that proposed, it would seem, by Patel for Australia …

He proposes “Education” for another 200,000 Indian students in addition to the 600,000 foreign students at Australian universities.

Suggesting it rise to a million and in five years 50 million!

It does not end there due to our inept Government with the sell-off of our Real Estate with Permanent Residency thrown in!

 

VIEW: Poor English, few jobs: Are AUSTRALIAN UNIVERSITIES using international students as ‘cash cows’?

 

Not only are Chinese students seeking the prestige of an Australian degree but are lured by the opportunity to buy our Real Estate to gain permanent residency and a Family Visa!

This dates back to when John Howard was PM in the late 90s when China’s middle class was embraced by changes to our immigration policy to offer “flexible citizenship” in return for investing in property and education!

WITH dire consequences for the incumbents of the lowest wages growth, insecure work, a Whole Cohort of Australians locked out of home ownership, or suffering from rental stressWhere we live is being rezoned and annihilated to accommodate the huge influx, our roads are congested, buses, trains, hospitals and schools are all full-up as we lose our communities … our governments are working against our interests!

 

 

AUSTRALIANS HAVE SEEN THIS PATTERN BEFORE …

It’s too late to catch the China wave, but another big opportunity is showing promise

 

To see the transformation of modern India, you should start with a look at an unconventional place – a slum.

“If you go to a slum in Brazil you will feel endangered,” says Ketan Patel. “If you go to a slum in India, you won’t feel threatened because everyone is working. It may only be sorting garbage – it’s a horrible job but you are so hungry for work you will take the opportunity, or if it’s the next step up you are sewing bags together.”

Two years ago,  Indian Prime Minister Narendra Modi embarked on a bold experiment.
Two years ago, Indian Prime Minister Narendra Modi embarked on a bold experiment.CREDIT:AP

 

*A slum may be a pit of poverty and disadvantage, but an Indian one isn’t a life sentence; it’s a way station, “a parking lot for human beings”, as Patel puts it. And the movement of traffic through the parking lot is speeding up as India starts to deliver on its potential and opportunity widens.

Patel invites us to take a closer look beneath the bits of corrugated iron that maybe five or eight people call home:

“The most educated person in the family is probably your 12-year-old daughter. Your boys are also going to school [thanks to a national drive to improve school access] but the girls are probably picking it up faster”, a syndrome not unknown in Australia, either.

“When you get just enough money to get a tiny abode on the edge of the city, you buy it. Now you are transformed from rural peasantry and you have a small abode in the city.”

An Indian slum is not a prison for life but a way station.
An Indian slum is not a prison for life but a way station.CREDIT:AP

 

*”It’s an informal process to transform people’s lives and that’s what’s driving the curve of India’s GDP upwards,” says Patel, an ethnic Indian who knows something about grasping opportunity. He grew up in an immigrant family in a poor part of London and is now a strategist and investor who has the rare distinction of having advised China’s Xi Jinping as well as India’s Narendra Modi on economic strategy.

Over the next 10 years, the pursuit of opportunity will drive a mighty urbanisation. The proportion of Indians living in the cities “was 40 per cent, it’s heading to 50 per cent and in the next decade you will see 60 per cent”, predicts Patel.

Illustration: Dionne Gain
Illustration: Dionne Gain

 

*Australians have seen this pattern before. The urbanisation of China together with widening economic opportunity drove its transformation. Now India is following. As a result, Patel tells me, “it’s almost as if every industry is transforming. At first glance you won’t see it because you’ll see all these people and chaos but if you look under the hood, you will see how fast it’s changing”.

India’s total economic output as measured by GDP was about the same as Australia’s in 2013. Next year Australia’s is expected to be around $US1.4 trillion ($1.9 trillion). India’s is projected to be around $US3 trillion, double Australia’s. The gap is only going to accelerate.

Australia’s Ashok Jacob, long-time financial confidant to the Packer family and now chairman of funds manager Ellerston Capital, says that India has annual economic growth rates of 6 to 7 per cent “locked in and if the chaos in India fades a little it will be 7 to 8 per cent”.

“It’s a long-term growth story,” says Jacob, also chair of the federal government’s Australia-India Council. “We are trying to tell Australian business, ‘you guys need to lean in to India. Every industry in India will increase its sales by 10 per cent a year over the next decade.

“If just 1 per cent of your business is in India, in a couple of years it will be 2 per cent and in a few more years it will be 10 per cent,” he tells me. “If we’re thinking about going to China, it’s too late, we’ve missed China. India is the opportunity.”

India’s transformation began with an early liberalisation program beginning in 1991, but it faltered badly. The advent of Prime Minister Modi, who is due for re-election next year, has put new energy into the process. Among other measures, he has brought 300 million people into the formal financial system by enabling them to have bank accounts, and he has tried to purge corrupt gains with a radical demonetisation scheme. He introduced a GST and new bankruptcy law, and wants to see more women participating in the economy.

 

“The key,” says Jacob, “is that India becomes one of Australia’s top three trading partners” as recommended by the report to the federal government by Peter Varghese, former head of the Department of Foreign Affairs and Trade and now chancellor of Queensland University.

Prime Minister Scott Morrison last week announced that the government would adopt all 20 of the Varghese report’s top recommendations for Australia to exploit India’s rise.

Patel, who’s been visiting Australia for two decades now, says he detects new seriousness from both sides about the India-Australia relationship. He encourages Australia to be bold.

Japan grasped the opportunity to build a vast high-speed rail network across India.

*”What’s the equivalent for Australia?” poses Patel, who was in Sydney raising investment for a $US700 million India fund for his firm, London-based Greater Pacific Capital. “If it’s education, you will figure out how to get maybe 200,000 Indian students” at campuses in Australia and India, in addition to the worldwide total of 600,000 foreign students at Australian universities today.

“That will rise to a million and then in five years it will be 50 million” with the right plan and the right commitment, says Patel. “It has to be in the 10s of millions to make a difference.”

The chief obstacle to a serious Australian effort, according to Jacob, is nothing physical or legal but something harder to change – the Australian business mindset: “With a few exceptions, Australian business has failed to go global. If you look, you have four banks, two grocery companies, a couple of telecoms – they are just squeezing the lemon” of comfortable oligopoly in the Australian market. “They are just squeezing the consumer. The banking royal commission is a symptom.”

The federal government plan is a good one, Australian and Indian strategists concur. Now Australian business needs to be bold. Otherwise, we’ll just be slumming it.

Peter Hartcher is the Herald’s international editor.

Peter Hartcher is the political editor and international editor of The Sydney Morning Herald. He is a Gold Walkley award winner, a former foreign correspondent in Tokyo and Washington, and a visiting fellow at the Lowy Institute for International Policy.

 

Illustration: Andrew Dyson

Illustration: Andrew Dyson

 

SOURCE:  https://www.smh.com.au/world/asia/australians-have-seen-this-pattern-before-20181126-p50ibx.html

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SYDNEY still critically UNAFFORDABLE for large proportion of RENTERS, index shows

 

WHY ?

That would be readily explained by the housing boom, the foreign demand, the shortage and lowest wages growth with many on a road to nowhere …

THE GROWTH LOBBY have not lost their appetite for ever more development looking to further broaden their market overseas …

IN the LNP allowing this to continue it will come back to bite with loss of productivity, congestion is contrary to a good economy as with poor health outcomes …

MEANWHILE the marginal forms of housing of caravan parks, boarding houses, and share properties are disappearing due to lucrative higher density for developers …

WHY did the erosion of Public Housing come about?  What were its origins?  Were they in self-interest through a lobbyist organisation intervening on behalf of  Developers and/or the Social Housing sector? 

There used to be Public Housing in Lane Cove North(?) Mowbray Road area, and it has disappeared for private cutterbox redevelopment …

THE LNP should restore “Public Housing” because a mere 5,000 “social housing” dwellings per annum for the next 10 years cannot address a Sydney dwelling shortage of 80,000 and a 56,000 shortage across NSW.

IT is the high population growth of both permanent migration and VISA MANIPULATION that has displaced the incumbents from housing!  The heightened competition from overseas buyers escalated property values, rents and loss of availability!

Also view “Need to Build Affordable & Public Housing for Incumbents:  Stop Overseas Population Crush!”

https://caanhousinginequalitywithaussieslockedout.wordpress.com/2018/11/26/4719/?fbclid=IwAR2jDiksz-9A2udizQoP3q6COdL4nxiB8tZ8d5ehLb1XQGX5acNtZTOoxDQ

 

 

Sydney still critically unaffordable for large proportion of renters, index shows

AUSTRALIA not just Victoria … the top spot for foreign property buyer breaches

 

Melbourne’s changing skyline around the corner of Lonsdale and LaTrobe streets. Apartments are going up everywhere amid concerns of a property bubble. Photo: Penny Stephens. The Age. 23RD JUNE 2015

COMMUNITY ACTION ALLIANCE FOR NSW (CAAN) …

IT would appear the Australian Government has been complicit with the legislation written contrary to the protection of  the sovereignty of this Nation! 

ANALYSIS …

WHY have only 877 breaches in Victoria (2015 to date) from foreign buyers been found?

-with Chinese investors approvals for 2016 and 2017 estimates of $46B and $47B apart from Proxy purchases

DESPITE the warnings from Transparency International, FATF, the OECD and others concerning the “Black Money” awash in Australian Residential Property that:

-only now it has been conceded there is a growing problem with “front people”, aka the Daigou/Proxy

The following would explain why developers, real estate agents or conveyancers were not being fined for breaches, or for not reporting “dodgy deals”:

-the second tranche of the Anti-Money Laundering Legislation for the Real Estate Sector has been shelved for more than a decade

-early October 2018 the Real Estate Sector was made exempt from any liability concerning money laundering in real estate (Aust. Govt)

WITH a cut of almost 5000 Tax Officer positions (2016), why was the ATO given responsibility for compliance with foreign property investment laws in late 2015?

ALONG with tackling the tax avoidance of the rich and powerful, was this the point of making the 4,700 Tax Officers redundant?

 

Victoria is the top spot for foreign property buyer breaches

 

SOURCE:  https://www.domain.com.au/news/victoria-is-the-top-spot-for-foreign-property-buyer-breaches-788137/?utm_campaign=strap-masthead&utm_source=smh&utm_medium=link&utm_content=pos5&ref=pos1

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A WHOLE COHORT OF AUSTRALIANS experience Discrimination in accessing housing; locked out; call for a Stop to Inequity!

One quarter of Asian Australians say they have felt discrimination in housing.

 

COMMUNITY ACTION ALLIANCE FOR NSW (CAAN) has shared with you all too numerous reports about the role the LNP Government policies have played in creating a Housing Affordability Crisis … with a Whole Cohort of Australians locked out …

-by creating COMPETITION with the 100% sell-off of “new homes” overseas (FIRB ruling changes)

-the Real Estate Sector has been exempted from liability for money laundering in Real Estate as recently as October 2018 by the Morrison Government

-the onshore PROXY (traditionally known as a Daigou) who may be a relative or a friend attends the Auction to negotiate on behalf of their overseas client

IT is evident that through what appears to be deliberate avoidance by the Australian Liberal Government that such a deep Chinese incursion has entered Australian politics!

This report is obviously skewed with a racist bent because the chief beneficiaries of the overseas sell-off of Australian Real Estate are not only the foreign buyers but the Australian Property Sector!

THIS is how Macro Business Houses and Holes sums this up:

“The survey was conducted during 2015/16 when the surge in Chinese buying of Australian realty was at fever pitch

Of course it resulted in a surge of anger and racial abuse. These are people we are talking about not some programmable snowflake machines.

Australians rightly thought that as Australians in Australia they had certain privileges, such as not having to bid for a roof over their heads against wealthy and often corrupt foreign nationals.  

The government must take the blame for letting it happen but the anger is more than understandable. We warned it would end this way.

The answer is not to punish those who were sold out by their own country, it is to stop the selling out.

Eh, Domainfax.”

https://www.macrobusiness.com.au/2018/11/shock-selling-houses-chinese-triggered-racism-surge/?utm_medium=email&utm_campaign=Daily%20MacroBusiness&utm_content=Daily%20MacroBusiness+CID_e2fdf77568cebf02337cb8d8ae2c97f3&utm_source=Email%20marketing%20software&utm_term=Shock%20Selling%20houses%20to%20Chinese%20triggered%20racism%20surge

 

Six in ten Asian-born Australians experience racism in accessing housing, survey finds

MP Victor Dominello seeks Premier’s approval for ‘urgent’ Ryde planning review

The Daily Spin Doctoring …

FACT:

The City of Ryde is holding an extraordinary meeting for 4 December to seek support from all Councillors to send a recommendation of REFUSAL to the State Government for Meriton’s proposal for 112 Talavera Road, Macquarie Park.

The State have always had, and always will have the power to determine this and all proposals!

 

The two-year freeze is up in July 2019 for the Medium Density Manor House

CAAN has shared with you all too numerous photo albums on the overdevelopment of RYDE and MACQUARIE PARK! 

 

Just last week we focused on WATERLOO ROAD MACQUARIE PARK Parts 1 – 3 … and there’s more to share!  Previously a number of albums on the North Ryde Country Garden Precinct, Lachlan’s Line Macquarie Park, Herring Road Precinct, Meadowbank/Shepherd’s Bay, Gladesville, Top Ryde, Melrose Park and many in between!

MACQUARIE PARK was developed a mere 30 years ago as a Business and Information Technology Park but due to Liberal domination of the Ryde Council back in 2011/12 and Liberal government in NSW much of this Business Park has been redeveloped for high-rise residential with huge job and commercial losses!

DESPITE the community-wide ongoing objection with the NSW LNP Government imposing:

-some 15,000 units in 2 Priority Precincts

-2,700 units at Lachlan’s Line

-3,500 units at Ivanhoe Estate (following demolition of the Public Housing Estate)

-setting additional housing targets of 7,600 for Ryde to be delivered in 5 years; Hunters Hill only has a target of 150

-up to 40,000 Manor House dwellings under the Medium-Density Housing Code in Ryde

The said freeze on blocks of 3 or 4 flats (Manor House) ceases in July 2019

VIEW our Photo Album to see how “complying development” and Medium-Density may well impact where you live!  Awful!

 

 

MP Victor Dominello seeks Premier’s approval for ‘urgent’ Ryde planning review

 

Ryde State Liberal MP Victor Dominello has ramped up his push to stop “ad hoc” and “ill-considered” planning decisions by Ryde Council, just days out from a crucial vote on Meriton’s 63-storey towers proposal for Macquarie Park.

 

Mr Dominello has written to Premier Gladys Berejiklian to seek her approval for the Greater Sydney Commission to conduct an “urgent” planning review into the City of Ryde.

In a letter exclusively obtained by the Northern District Times, the Finance Minister claims the council has put the community through a year of “unnecessary stress” after it gave gateway approval for Meriton’s plan, which would put four towers of 27, 30, 45 and 63 storeys at 112 Talavera Rd.

Meriton’s proposed towers project at Macquarie Park

 

“Ryde Council should never have supported this proposal in the first place,” Mr Dominello says in the letter, dated November 23.

“Given the legitimate angst in the community on the issue of overdevelopment and the ongoing animosity between Ryde Council and (the Department of Planning), I request that the GSC be asked to undertake an urgent review of planning in the Macquarie Park Precinct with a view to considering broader ramifications throughout the Ryde Council area.

“The Ryde community is sick of the finger pointing and the blame game. They want a sensible approach to any future planning, not ad hoc and ill-considered decision-making.”

Mr Dominello’s latest move comes after he already secured a two-year freeze on new rezoning applications for residential housing in Ryde, the only Sydney LGA to win this sort of planning reprieve.

He said today he had “lost all confidence” in Ryde Council’s ability to deal with planning proposals.

This is how the Meriton building would look at Talavera Rd, Macquarie Park.
Ryde MP Victor Dominello, pictured today at the site of the proposed Meriton towers, is taking a stand against overdevelopment in his electorate. Picture: John Appleyard

 

“It’s time for the Greater Sydney Commission to step in,” Mr Dominello told the Times. “The Macquarie Park Precinct review is long overdue. The Department of Planning was meant to have done this in concert with Ryde Council, but that relationship is seemingly unworkable.”

Ryde Council will consider the Meriton towers proposal at an extraordinary meeting next Tuesday.

Mayor Jerome Laxale said council had received 400 public submissions, most of which were strongly against the plan.

“The overwhelming majority were opposed on height and traffic grounds,” he said.

“There’s such high public interest in this that we’ve brought the meeting forward to December 4 (to make a recommendation to the State Government’s planning panel, which has the final say).”

Ryde Mayor Jerome Laxale says he will oppose the Meriton plan at next week’s council meeting.

 

 

Cr Laxale was one of those who voted in favour of sending the Meriton out for community consultation a year ago.

Earlier this year, he said the council got the best deal for ratepayers it could manage.

“The choice we had was between a rock and a hard place,” Cr Laxale said.

But on Friday, he said he would be opposing the plan on Tuesday night.

“Now that I’ve reviewed the final planning proposal, voluntary planning agreement and, most importantly, the community feedback, I will be recommending refusal,” said the Labor Mayor, who will contest next year’s state election in the seat of Ryde.

He hit back at Mr Dominello for accusing him of backing the Meriton plans over the past year.

Meriton’s proposed project at Macquarie Park.

 

“He says that I support it, but it’s a lie. He said that council wants a 63-storey development, but what evidence does he have of that?” Cr Laxale said.

“He also said on Channel 7 that I’ve signed off on 60 storeys. That’s a blatant lie. I haven’t physically signed off anything … but also, it’s not approved.”

Cr Laxale sidestepped the question when asked if supported the Meriton plan at any stage.

“This is the first time we can vote on this proposal with all the evidence,” he said.

“All that we voted on (last year) was whether this would go out for community consultation … and the message has come back loud and clear that people don’t want this development.

“Mr Dominello is now just blaming everyone else for the mess that Ryde’s now in. It shows you how desperate he is. He is trying every dirty trick to retain his seat next year.”