Not Elon Musk

@peaceitw @MarkoMatvikov Can achieve it in short order without much shock by indexing all brackets except the brackets above 30%, inflate them away and 1.5-2x the indexing amount

@MarkoMatvikov Top marginal rate should not be more then 30%

An 'aspirational' budget would look something like: • Indexation of income tax brackets so workers aren’t constantly going backwards • Lower capital gains tax so those who save and invest can more easily build wealth • Lower immigration to reduce its impact on suppressing wages and increasing rents This budget is the opposite.

@BK18699178 @samstrades Over the 15 hold period, cashflow is no different

@samstrades With the high inflation that we currently have, the gap is even smaller. NG does impact yearly cashflow. You should do some scenarios for that.

Do not panic and think rationally #ausbiz #auspol #CGT #investing #budget

@samstrades Now use the pre 1999 system. Indexing and 5 year block averaging

@NicholasKWolf @Nd172557208 No. It’s not, because by having a capital gain, that’s what puts someone in the top 10% of earners that year.

@ForSureNotElon @Nd172557208 Of course it is relevant.

30% CGT? fuck it the liberals can run on not implementing this and they'll win it

@boganintel It reads like you are your own enemy. Bouris and others like him would give it all back to be young again today

This bloke doesn’t recognise that he’s a part of a generation that has never or will never exist again. A generation with cradle to grave prosperity. Never before in history has a generation benefited so much from the hard work of their parents and the economic circumstances of their adulthood. Bouris has less in common with his hard-working father than a young Australian trying to make ends meet in uncertain times. He speaks of the accumulation of property as some form of human right, that it’s some form of Australian story, but it’s really a situation and a mindset that has only been enjoyed by a small group of Australians. Bouris literally made his fortune giving Home loans away in the first homebuyer grant period of the early 2000s, and he helped to contribute to an industry that is the most overinflated economic property Bubble on the planet. Bouris probably doesn’t remember Australia, whereby governments build houses as a human right, where Menzies era governments of both persuasions owned the lions share of rentals in the country. Not rich immigrant property magnates, not money obsessed Australian entrepreneurs. The only reason this fellow can talk like this, it’s because his lived position allows him to do so. A point not lost at all on the people who can’t really do anything right now.

@gring01234 @ausstockchick I don’t think any investors who know what they are doing will go near outer suburbs for investing. Renters who need to live inner city will be competing for less rental stock

3% is nothing lmao lets not forget, we still have a million more REPORTED immigrants to flow into australia. These people arent living in the street. People will cancel extra curricula spending like kids sports, tutoring, cut back on food, holidays etc before they stop paying expensive rent and mortgages. This budget puts more pressure on new builds and land because its the only place investors can go. So now first home builders will be competing against investors on land and constructive resources. Goodluckc

Comm bank is forecasting house prices to fall 3% in response to the government’s tax reform reports AFR. #auspol

@_mumbling_me @bnthompson @PeteWargent Combined attempts at changing fundamental structure of ownership entities and how they are taxed is sovereign risk to someone who has to make a decision on investing and then structuring ownership. Just the threat of unrealised gains says a lot about a government

@_mumbling_me @bnthompson @PeteWargent SMSF made up 20% of VC. Div296 unrealised gains tax attempt (and subsequent policy) makes super a poor investment after $3m. Same reason CGT (big part of VC) and trusts (20% VC) with the 30% tax.

Why found a startup in Australia when Singapore and NZ have zero % CGT?

@TeslaMining @DaleTho45919445 @ausstockchick Negative gearing still available for stocks though. And stocks MUCH better investment than housing

@DaleTho45919445 @ausstockchick The idea is that all investments get treated the same, so no matter where you put it will get taxed. Property still safer than the volatility of stocks for many.

One thing is almost certain, kiss goodbye to record gains in the housing market. Nobody in the right mind would buy an investment property in Australia now. #auspol

@ausstockchick Nope PPOR spend will increase and rents will rise because no rentals.

@PaulineHansonOz If it was about housing, they’d have increased the CGT to 90% for two years. Allows savers to pay less tax on gains for deposit and IP investors to sell which increases supply

If this is all about housing for young people then why are all our other assets being included such as shares , commercial property , industrial property what’s that got to do with housing ?

@AusDoomer @bowtiedstocks Coming to an Australia near you soon

@bowtiedstocks Yup - remove the exemption from family home and doom the younger generation to their 2 bedroom highrise defect ridden dogboxes forever while superfunds hoard up all the housing and land stock

People saying put it all in the family home because that’s currently tax exempt In all seriousness how long do you think we have no taxes on the family home, no death or inheritance taxes under these jokers It’s all coming How on earth can anyone vote for such economic destruction

@bowtiedstocks Politics of envy has unintended consequences, doesn’t it

@OMGTheMess It’s called super death benefits and it’s 15% of gains plus 2% Medicare levy

@michaelsnape @Snoman_here Ahhh you are splitting the 4.4m between two and getting near two pension phases.

@Snoman_here 5% of their $4.4 in super pension phase

Jenny and Matt 35/36 who build a software startup in their garage, have global customers and sell it for $10m, pay $4.7million in tax George and Margaret 73/74 own a $5million home in Mosman, have $4.4 million in super and pay $0 tax on earnings, $0 CGT and $0 on their pensions

@michaelsnape @ausnotes They pay tax on $2.4m in super (incl div296) They don’t receive a welfare pension which saves tax They’ll pay significant inheritance tax from their super, and Medicare levy by recipient (SDBT) They are doing fine. Need to increase the amount of people in that position

@PeterCr58710847 @Potstirrer111 Look at 85-87 where they did something similar

@Potstirrer111 What’s coming to Australia now? A full-blown recession?

My budget take - Everything on property is great. Limit ng and the cgt discount to actually build more homes which is productive. Dumb to go after shares which are productive. Seems like is difficult to calculate the new rules too and anything that’s difficult to explain is easy to pull apart by the opposition. Dumb that they didn’t use the tax savings for big income tax cuts but they’ve hinted they will use the 7 billion for that at the next election. By my calculations it’s roughly $700 a year per taxpayer which isn’t enough. Bill shorten, bill kelty and Allegra spenda had the right idea that wage earners need a big tax cut to bring them into the labor tent and fight off right wing populism. Bad they didn’t plan big cuts to migration but it looks like they might be behind the scenes without saying it with international student visa refusals the highest in 20 years. I don’t think the budget will fight off one nation though and will likely just divide and make people more angry without the big income tax cuts

@Potstirrer111 Don’t worry mate, you’ll see the light soon enough.

@_mumbling_me @bnthompson @PeteWargent Now it’s significantly higher. Plus div296 targeted 29% of VC last year and the trust attack with 30% is going towards attacking another 20% of VC. Probably why they are introducing more VC tax deals. But again, they have gutted it now

@ForSureNotElon @bnthompson @PeteWargent if all those who wanted to .. if they have already did... who are we refering to then?

@CharlesMur79716 @keithmarlowau @JEChalmers They’ll pay 30%

@keithmarlowau @JEChalmers What young person making significant capital gains isn’t in the 30% tax bracket?

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