Dustin

@BhagsNStonks @identfyingscum @Matt_Smith7777 Exactly

@identfyingscum @Dustinjlpf @Matt_Smith7777 What does capital gains on non housing assets for a low income person have to do with improving housing?

Minimum capital gains tax of 30%. FUCK THESE GUYS.

@Pro__Thought @88888sAccount Nope

@Dustinjlpf @88888sAccount Yep. Hoping you both didn't vote for Labor?

so even poors are paying 30% cgt now? jesus

@Ivana202020 @keithmarlowau @JEChalmers 1/7/27

@Dustinjlpf @keithmarlowau @JEChalmers From what date? This seems crazy.

30% minimum tax rate on CGT. So if you happen to live off your investments capital increases, your lowest tax rate is now 30%? What about young people trying to grow their nest egg by investing - isn't this a slap in the face to them??? @JEChalmers

@anthonyspiteri Crazy, my wife is a stay at home mum and will pay 30% on CGT going forward rather than the lower tax brackets she is entitled to.

The 2026-27 Budget (BP1 Statement 4) replaces the 50% CGT discount with inflation indexation of the cost base from 1 July 2027, taxing only real gains on all assets (shares, property, etc.). Transitional rules protect pre-2027 accrued gains. It also adds a 30% minimum tax on those real capital gains for individuals, trusts & partnerships. Exemptions apply for income support recipients (e.g. pensioners) and anyone already paying 30%+ marginal rate on non-CGT income. Not automatic for $0 earned income. Goal: cut distortions favoring existing housing over other investments/productivity. Raises ~$3.6b, paired with negative gearing limits to new builds only.

@AlaMerQld @SkyNewsAust Absolutely disgusting

@SkyNewsAust Absolutely! And hitting self-funded retirees with a min 30% tax on share CGT!

The Albanese government has betrayed voters with a series of bombshell tax changes in the federal budget, despite multiple pre-election promises. skynews.com.au/australia-news…

@AronieDawn2 @I_HODL_BTC @JEChalmers OMG you dont understand that at all

@I_HODL_BTC @JEChalmers Changes in CGT are aimed at asset rich people to help younger people. If Labor reduces CGT to 30% from 50%, there are many countries that have a higher rate.

BREAKING: Our responsible approach in today’s Budget means we’ve improved the bottom line by $45b. Labor’s responsible economic management means that debt is lower, deficits are smaller and the Budget bottom line is stronger in every year. We’re getting the Budget in better nick because that helps to fund the things that Australians need and deserve like Medicare, aged care and cost-of-living relief.

@sinbadbay You are truly a moron

Loving the minimum 30% tax rate applied to the final CGT calc. Stops those with rental losses built up over years having the CGT offset to nothing. Best item in the budget by far.

@onslowshipping Crazy, my wife is a stay at home mum and will pay 30% on CGT going forward rather than the lower tax brackets she is entitled to.

budget.gov.au/content/bp1/do… CGT discount removed on ALL assets, AND minimum CGT rate of 30%, even if you earned exactly $0 in normal income during that year. Perhaps the most disgusting, anti-productive, uncompetitive change to Australian fiscal policy in modern history

@Tze_C Crazy, my wife is a stay at home mum and will pay 30% on CGT going forward rather than the lower tax brackets she is entitled to.

So just to be clear - Even those workers on tax rates below 30% will now get slugged on capital gains at 30% MINIMUM…

@Cracked_Canoe Only until July 2027, then indexed, minimum 30% cgt after that time

Re CGT on existing assets - is 50% discount grandfathered in perpetuity or until July 2027 and then future gains @ min 30% ?

@DrCameronMurray @cmkusher Crazy, my wife is a stay at home mum and will pay 30% on CGT going forward rather than the lower tax brackets she is entitled to.

Yeah, there could be simpler ways of getting at what they want. Maybe leave NG, CGT, but carve out existing residential only for a flat 30% CGT rate or something. Or make the discount 25% for existing residential bought after July 2026 and leave everything else. Or just make CGT the lower of your marginal rate or 30%. Or make CGT a flat 30% on all assets. Same with the WATO and instant deduction or whatever - why not just increase tax brackets and/or lower income tax rates?

Didn't Ken Henry recommend making the tax system simpler? What are we doing, everyone now pays a minimum 30% CGT, negative gearing for new properties but not existing ones.

@marc0876 @AvidCommentator Crazy, my wife is a stay at home mum and will pay 30% on CGT going forward rather than the lower tax brackets she is entitled to.

@Dustinjlpf @AvidCommentator Yep and the young kids in 20 somethings who are buying shares to save for their future will get slugged with 30% capital gains tax even if their work income is really low

This 30% minimum tax on all capital gains is brain dead (ex-pensioners and Centrelink recipients). This is the dumbest budget since 2014.

@oliviamaragna Crazy, my wife is a stay at home mum and will pay 30% on CGT going forward rather than the lower tax brackets she is entitled to.

Here are the taxes! Treasurer says we’ll also introduce a minimum 30 per cent tax rate on capital gains from July next year, and on discretionary trusts from July the year after. #budget2026

@PunishedJeanLuc @rationalaussie My wife is a stay at home mum and will pay 30% on CGT going forward rather than the lower tax brackets she is entitled to.

@rationalaussie 30% minimum tax on capital gains. I hate this country. I don't view Labor voters as human.

What a fucking outrageous lie this is. I cannot believe the audacity of these people to just straight up lie to the public. If this was about better aligning taxes in wages versus assets then they would completely remove income taxes altogether. These people are fucking corrupt. They ALL must go. Every last one of them are traitors.

@HankScorpio01 @AvidCommentator Crazy, my wife is a stay at home mum and will pay 30% on CGT going forward rather than the lower tax brackets she is entitled to.

@AvidCommentator does this mean that any capital gains event (sale) including houses, shares etc after 1st July incur minimum 30% and no discount, eg no grandfathering of CGT discount unless its a new build property only ?

When I click budget documents on the budget website, it takes me to a tax cut calculator....

@rhysdiab Crazy, my wife is a stay at home mum and will pay 30% on CGT going forward rather than the lower tax brackets she is entitled to.

Am I wrong in reading that there’s a 30% minimum tax rate on net capital gains? Even if a person has a low income year they now can’t use the tax free threshold or a lower bracket when they realise a capital gain? Brutal #Budget2026