Michael Janda

And then the supply of properties available for sale.

that prospective buyers have to choose from start shrinking, and that tends to start putting a bit of a floor under price falls, because there are still people who want to buy, and if there's fewer people wanting to sell, that supply-demand equation evens up.

Queensland's out today, I believe.

And I think New South Wales budget is out tomorrow.

So two of the biggest states coming out and too early to see the impact yet.

But I wonder what their forecasts will be for stamp duty.

I mean, it wasn't wholly surprising as someone who is an economist and looks at this sort of stuff regularly.

Disappointing for me with my 43rd birthday coming up in a few months that 43-year-olds are the biggest taxpayers in Australia.

One striking figure from this report.

is that if you have two people on the same total gross income of $100,000 a year, one aged 30 years old, so probably someone who doesn't yet necessarily have kids, past getting the benefit of any kind of free or subsidized education, now in the workforce earning a decent income, versus someone aged 71 and probably in retirement and maybe starting to draw down some part pension or even full pension,

et cetera.

Well, not if they're on 100 grand a year, but they might be getting a little bit of part pension depending where their income comes from.

But the 30-year-old, they end up with about $85,700 after they pay their tax minus whatever they get back from the government in terms of services and government payments.

The 71-year-old ends up with a net income of $128,100.

because they're getting a lot more back from the government compared to what they're contributing in tax.

Because if their income is coming from superannuation in the retirement phase, then with that kind of income level, it's pretty much all tax free.

Um, and they potentially getting a part pension as well on top of that.

Plus they're getting a lot more healthcare spending starting to go on them as they get older still.

They're getting a lot more than aged care and other health related spending coming in.

So the older people get, the more they cost the government to look after, they're not any longer really contributing in tax.