BasilSixte

@linzcom The legacy asset is irrelevant to the tax consideration for the new borrowed funds. You could do the same with an established property bought after the change. You think you’ve found a loophole but you haven’t. And please don’t use the term “grandfathered”. Deeply racist origins.

@BasilSixte And you can draw equity on the grandfathered property to rebuild or renovate it.

This is big. As far as I understand, those who own a property grandfathered under the changed to Negative Gearing will continue to be able to re-leverage against that grandfathered property to buy more assets and write off interest costs against income well into the future

@linzcom Correct. But that’s the case regardless of existing investment or security.

@BasilSixte And you can invest in any asset class that still allows NG post changes.

@MarkDiStef That would require the NFT to have increased in value

Selling NFTs like ETFs incur capital gains!

@CassChronicle76 @ausbtcclub Correct, the new system taxes windfall gains more heavily.

@BasilSixte @ausbtcclub “Once an asset grows above 20% per year, the new tax system costs you between 87% to 100% more in net capital gains taxes upon sale.” - Checkmatey’s analysis; related to bitcoin which this thread is focussed on.

Current System (50% CGT Discount) Step 1: Apply CGT discount Capital gain: $100,000 50% discount: $50,000 taxable Step 2: Total taxable income Salary: $100,000 Taxable capital gain: $50,000 Total taxable income = $150,000 Approx tax payable Tax on $150,000 ≈ $40,567 Tax without the capital gain Tax on $100,000 salary ≈ $22,788 Effective tax caused by the gain $40,567 − $22,788 = $17,779 So under the current system: Tax on the $100k gain ≈ $17.8k Effective CGT rate ≈ 17.8% Proposed New System (30% minimum CGT with no 50% discount, plus indexation) For this example, assume inflation indexation = $0 adjustment. Step 1: No discount Entire gain taxable = $100,000 Step 2: Total taxable income Salary: $100,000 Capital gain: $100,000 Total taxable income = $200,000 Approx tax payable Tax on $200,000 ≈ $60,667 Additional tax caused by the gain $60,667 − $22,788 = $37,879 So under the proposed system: Tax on the $100k gain ≈ $37.9k Effective CGT rate ≈ 37.9% The government is taking in an additional $18,975 in tax for every $100,000 capital gain sale. That's 18.97%!!!!!!!

@Mark_Graph @thmcmahon @TMFScottP A simple threshold indexation policy is quite literally graduate level work. The latest model parameters are shared by Treasury on the day after the Budget. Any parliamentarian could have had a fully costed policy of this complexity completed within a very brief turnaround.

@Mark_Graph @thmcmahon @TMFScottP The PBO has the same models, data and frameworks as Treasury. Their costings are subject to the same rigorous standards as Treasury. The charter of budget honesty governs costings from both. PBO costings are quite literally budget costings by any definition.

Sarah Ferguson: "What is it going to cost the Budget?" Taylor: "The biggest question is what it means for Australians" He doesn't seem to know. #BudgetReply2026

@CassChronicle76 @ausbtcclub Treasury analysis shows on a 5 and 10 year historical basis that indexation is superior to the 50% discount for an ASX index fund and the average unit, while the 50% rate is slightly better for the average house. So yes it makes a big difference for the average investment.

@BasilSixte @ausbtcclub Indexation at 3% when it’s really 10%, yeah that’s great I’m sure.

@Hector_Herrick @matt_barrie Honestly it leaves me wondering what the hell people who think they're worse off were doing, because I SHOULD be the kind of person worse off but I'm doing better under the changes. Thank you Albanese and Labor!

@BasilSixte @matt_barrie Haha what are you talking about. Negative gearing was just cut and huge CGT on all property, shares, ETFs and crypto. I hold most of my wealth in gold, silver and copper. And I own my own home.

CBA market cap down more in 1 day than the entirely this government reckons they'll claw back from the CGT, trust and negative gearing changes in a year economically ruinous budget do they not realise the CGT tax revenue is proportional to actual gains

@Hector_Herrick @matt_barrie Then why am I better off from this budget, despite having multiple negatively geared properties, high 6 figures in shares, and a paid off home? I get the WATO, the CGT indexation means lower tax when I sell over the longer term, and negative gearing is unaffected for existing.

@Hector_Herrick @matt_barrie Alright you keep your money in cash, I'll keep my money in my negatively geared properties, ETFs and super. Let's see who's better off in 10 years ;-)

@BasilSixte @matt_barrie The whole market is in decline and will continue to decline with this budget

@Hector_Herrick @matt_barrie Wait so investors dumped other shares on the leak but only CBA on the announcement? Sounds rather irrational...

@BasilSixte @matt_barrie With the leaked info coming through and the announcement last night it has dropped from around 8900 to around 8600 currently

@CuriousPolite @PaulineHansonOz The increase in 2022 was specifically due to fossil fuel dependency and a lack of renewables, so it shouldn’t be surprising that renewables are driving prices down and protecting our sovereignty and independence as a nation. Which I though Pauline would be all for but 🤷‍♂️

@CuriousPolite @PaulineHansonOz I mean if you want to be specific with respect to political parties in power, it shows broad stability in the Rudd/Gillard years, a massive increase in the Coalition years, and a massive decline during the current Labor government term.

I want to wish Sussan Ley all the best in her future outside of politics. 9 wins and 25 years in politics is a sign of her resilience in this tough environment. One Nation will be contesting the by election in Farrer with a strong candidate that represents regional NSW, the rural sector, and someone who understands the issues of the Murray Darling and water. Our rural communities have long been forgotten by both major parties and are suffering at the hands of Net Zero, increased power prices, a lack of housing and services, immigration, and the decimation of prime agricultural land by city centric policies. -PH

@CuriousPolite @PaulineHansonOz It shows prices rising up until we committed to net zero, then they've been falling ever since?

@BasilSixte @PaulineHansonOz What do you think your graph shows lol?

@CuriousPolite @PaulineHansonOz Mate that's the last term of government lol. Look at the dates.

@BasilSixte @PaulineHansonOz I can tell this is BS from this

@Q2Quokka @GreenPartyUS Fake. greens.org.au/policies

the @GreenPartyUS policy page??