retvilldotnet: capital loss

Showing posts with label capital loss. Show all posts

Friday, 6 September 2019

Reality of Diverging Retirement Village Capital Journeys

Reality of diverging capital journeys made by #retirementvillage operator and residents. NSW Gov't wants operators to repay 0% interest loans from residents 6 not 18 months after they leave. Industry crying ruination. @Kevinandersonmp @GladysB @mckay_jodi @NSW_FairTrading #nswpol pic.twitter.com/TztfhVQuiy
— Les Scobie (@retvilldotnet) August 2, 2019

Sunday, 21 July 2019

Australia Creates House of Cards

ABC News Reports -

Excellent ABC easy to understand video summation of the current balancing act in the property market. https://t.co/3wE8N6C4us
— Les Scobie (@retvilldotnet) July 18, 2019

Read the full story here - https://www.abc.net.au/news/2019-07-19/house-price-falls-are-ending-but-dont-expect-another-boom/11298992?section=business

Tuesday, 16 July 2019

Doom & Gloom for Australian Property Prices

More doom and gloom predicted for Australian property prices. https://t.co/riJBdBTA13 #auspol pic.twitter.com/jtqkRvUOUy
— Les Scobie (@retvilldotnet) July 13, 2019

Capital Gain or Capital Loss

When a loan/lease #retirementvillage resident is granted through their contract access to capital gain, they also accept financial responsibility for any capital lossees. There are some pretty nervous residents out there. https://t.co/PNsHEm54iE #auspol #pensioners @acccgovau
— Les Scobie (@retvilldotnet) July 12, 2019

Tuesday, 25 June 2019

Capital Loss Danger for Retirement Village Residents

You paid a buy or near buy price to enter a #retirementvillage, excited to have access to capital gain even though you do not own, only occupy, WARNING, You are responsible for any capital loss. #vicpol @sdanck @abc730 @acccgovau @DanielAndrewsMP, @MarleneKairouz @michaelobrienmp pic.twitter.com/TDjxtqvjoz
— Les Scobie (@retvilldotnet) June 22, 2019

Function of Government

The role of government is to create an environment for commerce to function whilst at the same time protecting retirees and particularly vulnerable retirees from both financial and emotional harm emanating from that function.

The Victorian Retirement Villages Act 1986 provides the environment for commerce to function but fails to fully protect retirees from financial and emotional harm as a result of it.

The Victorian legislative definition of a retirement village in demanding the payment of an 'in-going' amount without the transfer of property ownership is a major contributor to that financial and emotional harm suffered by retirees.