Dinesh

@LNPvoterfail @JEChalmers You get $4 a week from 2028.. hope you don't spend it all in one place.. It's pathetic how saying taxing more is good policy, but you don't get nothing back in return.. I see this as people scratching cars in parking lots.. they can't have it, so others shouldn't either.

@LNPvoterfail @JEChalmers Govt is saving from flashing negative gearing / scrapping CGT discount on inv. property. Let's call it good policy and saves govt. money. Now govt is going after more tax revenue from everyday people. Not cooperations btw.. now, show me what people are getting in return?

How many people saving for a deposit put their money in a volatile share market? SFA. People use fixed term deposits. @JEChalmers is right. Just another red herring from the RW. #insiders #auspol

@LNPvoterfail @JEChalmers Taxing more doesnt mean everyone else gets a better outcome, if that were true point me to 1 such policy in this budget.

@bowtiedstocks What is he a Dr of again.. ?

This is an absolutely idiotic statement The Capital Gains Tax bill for many individuals invested in shares will close to double under new rules Lower post-tax returns mean the investment is now less attractive How can we have someone so ignorant and / or so full of spin as our Treasurer, it is frightening stuff and who knows what else is to come !!!

@AshPolitik @DrewPavlou So pay income tax in the 30% + 2% Medicare levy. Govt already got 1/3rd of my income. From that income, I save and I invest - I do all research, take all the risks, then govt. takes minimum 30%?.. which part of this fair.. absolute BS..

@DrewPavlou Just pragmatic, and not selfish.

I personally own assets affected by cgt changes but I still support the governments changes First im not greedy selfish fuck looking for government subsidies to help my investments. Changes are for the betterment of all, not the few. When you make a system fairer all, the system pays you back.

@RBASHAGGER Yep. Dick answer. Whole lot of shit about grants, not every business is going to need or qualify for those.. but, every business will get taxed the same.. starting to dislike him and Chalmers more and more .

How about a decent answer you coward of a co-founder

@fictillius What a little shit you are . You think your life is going to get better because trusts are now taxed.. such a sad little loser. Go do something productive..

People really love their family trusts, hey?

@MasonSCook @Commoncents21 Agree. Really pathetic and his example is wrong.. that 21 year old also pays the same amount tax - cos the income goes to the tax bracket. Clueless..

@Commoncents21 Why do every one of you people insist on bringing down others to a poorer level instead of looking at those in a better standing and trying to find a way to bring the less fortunate up to that level? All you do is keep everyone down. How pathetic.

Well a 21yo working university student pays their fair share of tax but a privileged 21 yr old working university student tucked under a trust, pays zero tax or very little tax. Most unfair. Thanks Hugh and AFR. 👏

@JulianHillMP By now taxing every asset class at 30% minimum, you lot are just pathetic..

Helping more Australians have a fairer crack at owning a home #auspol

@JEChalmers Interest rates up, getting taxed mercilessly for every asset.. please stop acting like you did something great.. absolutely useless..

Behind the scenes: a busy week delivering this Budget with the team. It’s all about supporting people through this global oil shock at the same time as we reform the tax system and our economy for the future.

@MickamiousG Negative gearing should never have been there. If your buying an investment, your investment should stand on its own merit rather than a govt. handout.. but, I'm totally against this excessive tax on every asset class..

This is Australia and how investing now works if you choose to buy an investment property. Buy a property, rent it out. Pay Stamp Duty, Pay Land Tax. Pay Rates to councils. Maintain the property. Sell property sometime down the line. Maybe have made a profit. You can no longer claim a tax deduction via negative gearing on an existing property… So You Took the risk. & Now you need to Pay Government Tax Again. So you paid at time of purchase, you then pay tax again at time of sale, Government out no effort in other than to keep taxing you throughout the duration of your ownership, and somehow this is fair?? This is Australia.

@MarkoMatvikov I hope your right. Cos' this 30% floor on all investments is just a money grab..

My prediction is it’ll be restricted to residential property and the 30% flat rate will revert to the individual’s marginal income tax rate. In exchange for additional funding (for rent assistance, social housing or the like) for support from the Greens through the Senate. Labor already anticipates this - but we’ve all got to play along with the political charade to ensure it happens. Labor will claim they listened and adjusted - and they’ll snooker the opposition having opposed it outright, rather than outlining their conditions for support.

@BilsonhBilson There's no misinformation. Budget didn't give everyone a tax cut.. it gave everyone additional tax on all investments. Nothing to celebrate here.. If you want to pay more tax and call it being fair, then this is for you..

Please repost this is the message we need to counter act the massive media deluge of misinformation. My FB feed is swamped with 10 stories on Angus as the LNP & their media realise that very few watched his reply, to be honest I thought even Angus drifted away there for a while😳

@CapitalViper @Ben_Davison1 No.. some lazy ass people with no ambition just want to cry foul..

@Ben_Davison1 How are you being cheated? If three people are benefitting from the money, Why shouldn’t it be split across three people’s tax brackets? The idea that a single income with multiple mouths to feed, clothe, house and entertain should only get 18k tax free doesn’t make sense!

Old white make boomer admits that trusts are used to cheat the rest of us The trust doesn’t “earn” $180,000. Someone made decisions, took actions & did something to earn that money The trust is just a vehicle to launder the money to three people instead of one Overdue change

A chorus line of founders and business leaders argue replacing the capital gains discount for an indexation model may make sense for property, but the changes represent an assault on innovation and deter people from taking the enormous risk to start businesses. Read more: bit.ly/4ub0LYN

@terrancebradley @NoelWhittaker Jesus you are a moron.. the tax for CGT in budget has a 30% floor REGARDLESS of the tax bracket..

@Deetray @NoelWhittaker That's what happens Champ, you pay tax on your final income from all sources. My free Economics lessons are done for the day, go do some study of your own.

I'm running numbers on family trusts. If the trust owned by mum, dad, and 19-year-old daughter earns $180,000 a year and they distribute $60,000 to each the tax will be three times $9,000 = $27000. At 30% flat, it's $54,000. That's double - The only way out is to change distributions to wages, but they must be able to justify the wage. It's a shameful attack on business

@terrancebradley @NoelWhittaker Then tax on overall income FFS.. Thats why there's a tax bracket.. why is that 30% floor a thing for investments?

@Deetray @NoelWhittaker Yep, you've paid tax on one income stream, wages. But income also springs from rent, interest and profit. Why should wages be taxed but these income streams not be taxed? The brain dead are those that think only labour should be taxed but all other income should be tax free.

@Ryandally08 What the fuck is wrong with these people? Tax the gas industry if your out of money to spend on submarines we may or may not get

#BREAKING Anthony Albanese has been accused of burying a new “death tax” in the budget, dealing grieving families a fresh blow to their inheritances through what one expert calls a “thousand paper cuts” On budget night, Jim Chalmers, broke a number of campaign promises and abolished negative gearing on established homes and removed the CGT discount, not just for investment properties, but for all assets including shares, start ups and farms. The broken promise has led Mr Albanese and Mr Chalmers to be repeatedly grilled on the question of a death tax. But the budget already delivered a “death tax” disguised in the form of estate planning trust, the Testamentary Discretionary Trust, will now be hit by a minimum 30 per cent tax rate. Testamentary Discretionary Trusts are in 90 per cent of the wills drafted and the change would affect thousands of Aussies. Meaning money that you’ve worked hard for, has already been taxed and sitting in your bank account. Will now be hit with an additional tax of 30% They just want it all.

@clairlemon You think so? x.com/i/status/20551…

The CGT changes on small business / start-ups are abysmal--but nipping this in the bud is fair enough. x.com/NoelWhittaker/…