$850m plan to cut home pain


	$850m plan to cut home pain

tabsey

2-5-2008 3:43 AM

121 views

tags:

politics, economy

tabsey says:

Better than inflationary gifts as the previous govt promised during the election.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/bdc6da9b-8f9a-44cc-93fc-f5707be281ce/D0190111-B422-430C-B8C9-DFEF1D23BBF9/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.theage.com.au/news/national/850m-plan-to-cut-home-pain/2008/02/04/1202090323369.html?s_cid=rss_national" href="http://www.theage.com.au/news/national/850m-plan-to-cut-home-pain/2008/02/04/1202090323369.html?s_cid=rss_national" style="font-size: 11px;">www.theage.com.au</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theage.com.au/news/national/850m-plan-to-cut-home-pain/2008/02/04/1202090323369.html?s_cid=rss_national"><P>THE Rudd Government has promised $850 million worth of new tax
concessions for aspiring home buyers ahead of an almost certain
interest rate rise today.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theage.com.au/news/national/850m-plan-to-cut-home-pain/2008/02/04/1202090323369.html?s_cid=rss_national"><P>As more strong economic figures all but locked in an 11th
consecutive interest rate rise, Treasurer Wayne Swan unveiled a
scheme providing annual benefits of up to $1500 for people
voluntarily contributing up to $5000 a year into special first home
saver accounts to be run by superannuation funds.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theage.com.au/news/national/850m-plan-to-cut-home-pain/2008/02/04/1202090323369.html?s_cid=rss_national"><P>The scheme effectively gives depositors a 15% discount on their
marginal tax rate, although they will be forced to wait five years
before the money can be accessed to buy a house.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theage.com.au/news/national/850m-plan-to-cut-home-pain/2008/02/04/1202090323369.html?s_cid=rss_national"><P>It comes amid soaring house prices and warnings that record
numbers of households could face mortgage stress this year.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D0190111-B422-430C-B8C9-DFEF1D23BBF9/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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