T Do

“It’s important we have a more nuanced policy between passive investment and lazy house flipping which doesn’t produce new jobs, and investing in real businesses” afr.com/policy/tax-and…

Victorians, vote this putrid govt out in November 2026. Vote them back in & it’s more crime, higher taxes, more corruption, more debt, a harder life & lower living standards.

And that's the AFR table, simplified. It shows the current systems aligns labour and capital rates: the new CGT system, the average rate across income brackets is 50%, and 92% increase on the current system! Appalling. Circulate widely please.

Geoff Francis, an economist & former Treasury assistant secretary, slams the government’s tax reforms. You’ve managed to piss off an entire nation @AlboMP @JEChalmers

This is a genius summary...

@JEChalmers You and your Labor party are full of hot air. You are playing politics with the Australian economy. We know that you and the Labor party are liars. We no longer trust and listen to what you say. KICK LABOR OUT

Labor is cutting income taxes for workers five times in three different ways. It beggars belief that in the first term the Coalition voted against tax cuts and to block housing for Australians. Now they are showing all the signs of repeating the exact same two mistakes.

Jim Chalmers keeps pretending his CGT changes are about “making the rich pay their fair share.” But the reality is far nastier. This Budget is increasingly aimed at the battlers, strivers and younger Australians desperately trying to claw their way onto the asset ladder before inflation, rents and taxes crush them completely. The people getting hit are not billionaire elites. They are: 📈 ETF investors 📊 micro-investors 🏠 rentvestors 💼 small business owners 🚀 startup founders 👨‍👩‍👧 working Australians slowly building modest wealth over decades Experts now warn a key omission in Chalmers’ new CGT model could cost smaller investors THOUSANDS extra in tax because gains will be taxed in a single year without the old averaging protections. (theaustralian.com.au) And it gets worse. The new minimum 30% tax provisions mean many Australians on genuinely low incomes — including some pensioners and retirees — could suddenly face tax rates that previously would never have applied to them when selling long-held investments. That means: 💥 retirees pushed into punitive tax brackets after decades of saving 💥 low-income Australians hit with large one-off tax bills 💥 ordinary workers suddenly exposed to 47% marginal tax rates after asset sales 💥 younger ETF and micro-investors smashed harder Meanwhile the genuinely wealthy often already have: 🏛️ trusts 💰 sophisticated tax structures ⚖️ accountants and advisers 🌏 offshore options As always, the insiders survive. The little guy gets skinned alive. Labor talks endlessly about “fairness.” But what is fair about: ❌ punishing pensioners for saving ❌ taxing younger Australians trying to invest modestly ❌ making wealth creation harder for working families ❌ attacking aspiration while government spending explodes This Budget is not a tax on privilege. It is a tax on ambition, thrift, self-reliance and ordinary Australians trying to escape permanent financial insecurity. Australia should reward people who save, invest and build wealth responsibly — not punish them for daring to try. #auspol #Budget2026 #CGT #Investing #ETFs #Pensioners #HousingCrisis #IntergenerationalEquity #EconomicFreedom #Libertarian #LPQ

The pressure on Albo continues. Comm Bank chief executive has said limit CGT changes to real estate only. I agree. Productive businesses should not be a target. We don’t need to wait around to find out what happens when productivity is disincentivised. #auspol

You don’t create a prosperous nation by making everyone that isn’t currently rich equally poor. You do it by giving poor people the same access to knowledge and opportunity that rich people have.

@toy59496 Champagne socialists always see the world through a socialist lens as they have never worked outside of their political party or built a business themselves.

The Chalmer Delusion: Outcome Bias & The Static Pie Fallacy afr.com//politics/fede… I encourage you all to look at the excellent interview of Jim Chalmers by Philip Coorey of the AFR. What struck me is that he appears genuinely sincere that he has a good policy and that it will work in delivering intergenerational equity and productivity. It reminded me of Oscar Wilde's letter when he was in jail... "Most people are other people. Their thoughts are someone else's opinions, their lives a mimicry, their passions a quotation". Jim Chalmers is not you, and he is certainly not me, so how can his mind arrive at such bizarre conclusions. I think the answer lies in the field of psychology: outcome bias combined with the static pie fallacy. Jim Chalmers sees the successful founder, investor or business owner - but not the thousands who failed, lost capital, went bankrupt or spent years building nothing. Capitalism’s winners are visible; its graveyards are invisible. Then comes the static pie fallacy: treating wealth as something merely to be redistributed rather than created through risk, incentives and relentless trial-and-error. He doesn't see that for the pie to grow, incentives must be rewarded, and that outcomes are destined to be fundamentally inequitable If the model works properly. However if the pie grows large enough we have enough wealth to bring up those at the bottom. But we will never be all the same, and rewarded the same, if we were that would be socialism. But he cannot see that, as trapped in his own psychology, Jim Chalmers feels taxing success is morally righteous rather than economically destructive. The problem is that innovation only exists because extreme rewards compensate for extreme failure. The argument is not one of intelligence, but of philosophy, and there is no common ground or resolution. This is a very old dilemma, and Thomas Kuhn would say Jim Chalmers and the business community have "incommensurable frameworks", and trapped in his own paradigm he is unable to view the world differently. What we see as an apparently rational disagreement is actually a failure of shared meaning rather than a failure of intelligence. The conclusion is sobering that the only way to resolve the problem is to remove Labour through the election box because the framework in which they make decisions is so foreign to economic reality that they will inevitably fail to interpret the world around them in a way that will grow the pie. They are prisoners of their own ideology. afr.com//politics/fede…

Australia used to be the “lucky country” what happened?… Labor installed a communist.

We need an additional National Sorry Day. I'm sorry this fool ever became prime minister

Aussies ⬇️⬇️

Commonwealth Bank of Australia chief executive Matt Comyn has suggested the Albanese government’s capital gains tax overhaul should be limited to real estate and not hit productive investments in business. afr.com/policy/tax-and…

I'm going to fact-check my own Tweet below, which was made in haste between meetings. It's sloppy, lazy and badly worded. The tweet should say "Albo is proposing to introduce CGT transitional arrangements where any real gains accrued from 1 July 2027 on shares already acquired are taxed at the marginal rate. Which, for some taxpayers, will be up to 47%." Gains made before that date remain carved out and treated as is until 1/7/27 under the proposed transitional rules. NOT - "Now Albo has taken half of it". Caveat: Changing the tax status of shares is not technically grandfathering; it's a transitional arrangement. Grandfathering would be if the shares maintain their original tax treatment. They don't; existing shares transition into a new arrangement. There is a subtle but important difference. BIG PICTURE POINTS 1. I'd like the government to lower taxes on both wages and capital, especially for younger people trying to get ahead through hard work, investing in shares and or starting their own business. 2. Government spending needs to be more measured and used wisely. Successive governments, both Liberal and Labor, have wasted money over the last decade. 3. If the removal of negative gearing lowers house prices, including my own, I'm good with that. House prices for young people are way too high. Phew- Twitter is not a great format for complex finance matters or posting on the run. Do better, Alister. No more tweets on the run.

Productivity tax !

Makes BIGGEST changes ever to taxes, which will inhibit the ability of Aussies to gain wealth after promising before the election not to. Now promises “bigger tax cuts” if you’ll vote for Labor again. Sorry Chum, AUSTRALIA CHANGED ITS POSITION. Labor is done in Australia.

Anthony Albanese angrily responds to news that Angus Taylor has said that the door is open for a preference deal with One Nation: “The door isn’t open, there’s no door, they’re in the same room” “One Nation, the Liberal party and the Nationals, there are now 3 right wing parties in Australia” “All advocating policies that aren’t in the interests of social cohesion that’s needed to bring the country together” “Angus Taylor’s budget reply where he tried to separate Australians from migrants singling out migrants as if they’re not contributing to this country” “You would have no construction, if you had no migrants” “Hospitals would close if you had no migrants” This bloke has lost the plot. He honestly believes Australians do not work in construction and Australians are not doctors and nurses. Forgetting that Aussies have built this country from its foundations in 1788 to what it is today. He has just disrespected every Australian in this country, with that statement. @ryandally08 facebook.com/share/v/1DiB7Y…