Sam Kennard

A wild card outcome with the removal of Negative Gearing from existing housing is: what will happen to the secondary market of these investments? A new home bought by investors benefited with negative gearing, on exit will not have a buyer pool that can structure the same way. Fewer potential buyers. Will this spook buyers of new properties?

@TonyDal49796178 @AlboMP I have zero personally held or personal trust-owned investment properties. Not one. My business has company-owned properties. This disgraceful deceit will not affect me one bit. Albo is a shameless liar. Carry on.

@SamKSS @AlboMP Show us your rax returns and declare how many trusts and leveraged properties you have

If @AlboMP wants to change his mind on tax increases, he should take it to an election. We can respect that. If he doesn’t, it’s not a broken promise, it’s a lie. Jelly Roll 🙏🏼

“This is a government which returns bracket creep when it is responsible to do so.” - Jim Chalmers. Translation: your whole wage belongs to him, to be returned to you in part as he sees fit.

Australia is a high tax country. Great podcast from @CISOZ on the truth of Australia’s tax regime. Only 24 mins. 👇🏼 podcasts.apple.com/au/podcast/cen…

@KatyKray73 @dendog43 x.com/samkss/status/…

Next time you tell a massive lie, just say ‘I changed my position.’ Apparently that gives you a free pass to be a complete BS artist. 🤯🤷🏻‍♀️

We should resist this trade-off for 2 reasons. First, the govt doesn’t have a revenue problem. It has a spending problem. Spending should be cut and income tax rates cut.Second, overseas govts have invariably taken back the income tax reduction traded for GST increases (eg NZ). They don’t last.

@SamKSS @jacko_eth whats your thoughts on increasing GST to offset income tax reductions? Taxing consumption makes more sense to me, and we have a low comparable GST/VAT from OECD perspective. The increase in prices will offset by more disposable income.

The concerns commentators have about the CGT discount and Negative Gearing are created because our income tax rates are too high. If Australia’s top marginal rate was around 25-30%, then all the anomalies and structuring incentives disappear.

@jacko_eth Totally support a massive expansion of mining. Lower taxes would likely produce more tax revenue as investment, enterprise and hard work is rewarded. And don’t forget the massive cuts in waste and bloat in the government.

@SamKSS The only way to sustainably reduce top marginal tax rates to around 25-30% is capturing a fair share of the natural resources & LNG gas exports Australia exports to the World, that are finite resources dug out of the ground, so we can build a productive nation.

@matt_barrie True but it matters less when tax rates are lower. Capital Gains made in a company are taxed at the 30% company tax rate.

@SamKSS Capital should still be preferentially taxed as its risk capital and used to grow industry and create jobs

@angelar68197975 It’s rational. Why pay higher taxes than you need to? High taxing countries can be legitimately criticised by anyone.

Murdoch pays no tax, zero tax in Australia yet lectures Labor on tax and fairness

@SimonBanksHB Labor estimates? Are you outraged at how wildly wrong the Labor government has been in budget estimates of its own spending?

"According to the Labor estimate, prepared using the Parliamentary Budget Office’s “small model of Australian representative taxpayers” (SMART) tool, the true cost of Taylor’s pledge...is $35b over four years, rather than the $22.5b estimate" smh.com.au/politics/feder…

@AlboMP Or this…

We’re acting to give young Australians a fair go and to build more homes.

Politicians being preferential or trying be to pick winners is a terrible idea. Everyone should enjoy low taxes, not just sectors favoured by politicians, influential business people and lobbyists.

We will oppose and repeal all of Labor's bad taxes. Labor's tax on property - by closing negative gearing - will go Labor's tax on investment - by increasing capital gains taxes - will go. Labor's tax on small business - by taxing trusts - will go. Labor's tax on non electric cars will go. Labor's tax on industry - through carbon taxes - will go. Labor's silent inflation tax - through bracket creep - will go. Taxes will be lower under a Liberal and Nationals Government.

Last night, Australian’s didn’t get an economic plan, we got an invoice.

Where will ambitious, high growth Aussie businesses/investors move to once Labor's doubling of the capital gains tax rate from 23.5% to 46-47% on all assets/businesses come into play? This is what ChatGPT offered...

The NDIS became a grifters’ paradise – and you’re paying afr.com/policy/economy…

Imagine what life would look like if Australia had stuck to the fiscal principles that guided government before 2008: allowing deficits during recessions, but then running surpluses in good times to balance the budget over the cycle. Had we maintained that prudent approach, we could have cut personal income taxes by 19% to 28%, saving the average taxpayer by as much as $7,000 a year. The simulation below shows what could have been done with the $1.3 trillion in federal spending savings that may have accumulated between 2008-09 and 2028-29...