Dinesh

@XuanJi53490765 @australian They're making sure atleast accountants will still be in business...

@australian Businesses have a three year grace period in whelich to change structure

Employer groups have warned Labor’s proposed $45bn trust tax reforms will slug up to 400,000 small business owners. Read more: bit.ly/4xONmbb

@therealrukshan Yes - what is the law again? Made it so vague that no one can comply. This govt. is so full of shit..

🚨 Labor ramps up under-16 social media ban: Big Tech faces $99 MILLION fines as eSafety Commissioner gets more power The Labor government said it will introduce legislation this afternoon to force social media companies to do more to keep children under 16 off their platforms, arguing “big tech” has failed to comply with existing law. PM Albanese said the bill would double penalties and expand the eSafety Commissioner’s authority to compel companies to act, including new powers to investigate their conduct. Fines would rise to as much as $99 million if the eSafety Commissioner determines a platform is not doing “everything within their power” to stop under-16 users.

@QBCCIntegrity @AusPoll6 1. Income splitting 2. Tax bracket indexed - cos it ain't peoples problem if the govt can't control inflation.

What are the top 2 things you feel One Nation should do, say or clarify that would regain ground?

@TakedownMRAs @day25 Disproportionate? They put a minimum floor of 30% tax on every asset class. If my wife doesn't work a year and sell some shares, she'll pay 30% tax instead of 0% for being 18k. That sounds wealthy to you? If you want fair why go around tax brackets? Load of shit.

@Deetray @day25 They're winding back an overly generous tax discount that disproportionately benefits the wealthy

Interesting to see all the responses about all the new cgt and NG changes. Tall poppy syndrome is alive and well in Australia. "I'm happy for the government to cut me down as long as it cuts you down more you rich jerks" seems to be the consensus.

@TakedownMRAs @day25 Typical Labor stooge. Can't see forest for the trees. If it was just property changes no one would complain. Quite frankly Labor attacked the greens when they pushed for it. Now they're taxing every asset class.

@day25 People want their kids to be able to afford a home. This isn't a difficult concept 🤷‍♂️

@chrisbrycki Great work by Labor. Looks like money will flee from individual investments. Everyone will be an index investor going forward.

What if I told you the government could now tax you at more than 100% of your real investment gains? It sounds absurd, but that's exactly what can happen. In this video I explain how it can happen, why it's an unintended consequence of the new capital gains tax, and the steps investors can take to reduce the impact. If you own shares or ETFs, this is something you need to understand.

@BC_SA84 @MarkoMatvikov It's a start.. they will 100% have candidates for senate..

@Deetray @MarkoMatvikov Party of 2. Doubt it

Labor’s primary vote has dropped sharply and the Greens’ has barely moved over the last 12 months. So Labor only holds a strong electoral position because the opposition is split between the Coalition and One Nation. That’s the reality. If the right can find common ground on a set of key issues, that position flips quickly. If they don’t, they only have themselves to blame for keeping an unpopular Labor government in power.

@CamelTamer @MarkoMatvikov I don't think there's anything to take from liberals anymore, which means they'll have to run everywhere except for Nats territory. Won't get anything there, although ON can cannibalize Nats territory.

@Deetray @MarkoMatvikov That party needs to start running in historical labor seats instead of just liberal ones then we’ll see if their agenda actually holds water or they are just another party for rich people to feel guilty

@HenryAust1 @Camoscott1234 Ridiculous how? Incorrect statements? What's more disgusting is it passed the house with no issues. I mean with all the flaws it has and some backtracking they did, not 1 labor member thought of opposing or asking for more consultation. This mob is so pathetic!

@Camoscott1234 It’s all gaslighting, all the time, from Labor. Giving Australia the highest capital gains tax in the world is economically destructive and hurts first home buyers. Yet their backbenchers and the press gallery simply do not have the intellectual capacity to push back.

Chalmers put up taxes on workers by $5,000 per year yet has the temerity to crow about a $268 per year tax cut. I simply cannot understand how these people live with themselves.

@QLDLOST @keithmarlowau You problem is thinking there's only 2 parties. There's a seismic shift coming..

@keithmarlowau Yep lets get Angus and Poorlin sorting the big issues !

Both Labor and the Greens will be shown the door at the next election. The budget is an economic suicide note, and it's terminal for those who passed it.

@gring01234 Everything else is a money grab.I'm going to hold tight for 2 years from 27 -2029 limiting selling my shares.. this will 100% be an election battleground. We will see labor fall and any new govt. will still likely won't touch the property side of it. Can't wait to oust this mob

@gring01234 My position is - housing changes was likely justified, people couldn't afford homes. Still could have limited it to 1 or 2 homes for negative gearing so investors could still had some piece of real estate.

Its almost suspicious just how badly Labor are doing in regards to this budget. I just want somebody, anyone to ask these Labor communists this one question in regards to the budget; "How does doubling the taxes on my shares, help me afford a home?" Here's what the budget should have been; Option 1: Remove negative gearing and capital gains discount on investment properties. Pros: makes housing a lesser favourable investment option and could have been understandable Cons: punishes real estate investors and with the removal of negative gearing, rents will be increased. Option 2: Remove or lower capital gains tax on all other investment options outside of real estate. Pros: punishes nobody, propels other investment classes above real estate in an un-ignorable way and actually allows people the ability and freedom to generate money for a house. It would also lead to higher GST and stamp duty revenue for the government. ----- This budget was designed for a singular purpose and it does nothing for that purpose. Its literally a giant scam. Its simply a way to capture more money that they can use to buy more voters through socialist programs. Here's how I see this playing out over the next 12 months; - Rents are going to start moving up in preparation. People dont seem to understand that negative gearing isnt just a tax rebate for land lords. Its a rental subsidy for the tenant. The land lord could offer a lower rental price because they could break even with the tax rebate. Now that this is gone, they will HAVE to increase rents. - you are going to see an unwinding from the ASX as people lock in the remaining 50% CGT discount. That means your supers will go down. - housing materials, labor and land values are going to sky rocket. With labor keeping the status quo with new builds, you will now have overseas investors, native investors and first home buyers all competing for the same asset. Similar to before but more concentrated. Australia still only builds 170 000 houses a year and it will now to service 3 different buyer classes. - start ups that would have remained in australia will now leave or not start at all, costing job opportunities and missed tax revenue. All of this has been done to scape goat the real reason for this crisis, which was letting in 2 million immigrants over 2 years straight after a fake pandemic. You are being punished for their bad policy. Its that simple. We are about to enter the largest wealth transfer in history, and doubling the tax on investments is a direct inheritance tax as the government has just doubled the revenue it will take in when your parents sell/hand down to you. And which party is now going to fix this? @LiberalAus say they will scrap the changes completely. @OneNationAus i have no idea what their CGT policy is @RennickGBR CGT policy is average and only truely benefits those over the age of 50. #auspol

@FridgeyDidgey @JEChalmers $250 annually, but look at the framing by Jim.. LMAO.. Pathetic lot..

@JEChalmers Just not a fair go for other asset holders who you are robbing to pay for your reckless spending. The Labor messaging in this absolutely stinks. Trying to sell a $250 tax cut as being for ‘workers’ and trying to relate fucking over every asset owner to help 1st home buyers.

BREAKING: Our legislation to deliver more tax cuts for workers and a fair go for first homebuyers just passed the Parliament. It’s the most significant reform of the tax system in over a quarter of a century, and it's all about helping more first homebuyers into the market and delivering another tax cut for every Australian worker. This is a victory for Australian workers and first homebuyers.

@OkieDokie_ASX @Sauronlordking Plenty of families rely on 1 income during kids early years. This would ensure selling your shared to support the family during that time gets you taxed 30% instead of 0. Such garbage policy.

@Sauronlordking the only argument i see to support this is only a small % will be affected. Like that makes it ok? Arent we supposed to support minorities in this country anyway?

When you think about it, the minimum 30 per cent CGT changes on shares only affect people earning less than 45 thousand dollars.

@taipan168 Teals better form a party and still allow each MP to vote independently. If they do and any teals that don't join can't be taken serious.. look at how not having no Lance of power has got us..

I hate the ALP, even more so after their utterly anti-aspirational budget I loathe the Greens I loathe One Nation The Coalition is in utter disarray The teals have been a disappointment and are irrelevant unless they hold the balance of power Who the hell do I vote for in 2028?

@larissawaters You lost my vote siding with these CGT changes. You know it was rushed through senate. These changes are for a asset classes not just housing. It's a complete farce.

A quick update on the fight to stop Labor’s NDIS cuts: the Greens have delayed these cruel cuts by another 8 weeks as we work to stop them entirely.

@Markyles @Observer90210 Yes - because everyone puts money in the bank when saving 60-100k deposit Good god, some people are just dumb..

@Observer90210 Savings are subject to tax on the interest at one’s marginal rate. Additional taxation eg a cgt event would be double taxation and would not happen.

Labor’s budget measures of negative gearing and capital gains tax, having passed the House will now pass through the Senate sometime this week. After more than 2 decades, more young people will be able to buy a home. Not investors buying property but young people buying a home.

@AlboMP What a lying piece of shit.. I voted for this mob, I guess I deserve it.. not next time around though

We're making sure hard work pays off and everyone has the opportunity to get ahead.

The last part, can the PM name a single country with a higher tax rate on real capital gains! I may have had a hand in developing that question. And guess what; PM can’t answer it because there is none! Please retweet widely. x.com/TimjboAU/statu…