christopher joye

27.6K posts

christopher joye

christopher joye

@cjoye

Portfolio manager at https://t.co/9L2cdsF1kC and AFR Contributing Editor

Sydney Katılım Temmuz 2009
1.5K Takip Edilen34.4K Takipçiler
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Isabella
Isabella@thatreviewplace·
Helping to create "intergenerational equity"? These socialists are busily creating "intergenerational poverty!"
christopher joye@cjoye

There are two other dire consequences of this budget that nobody is talking about. The first is that the budget’s introduction of an effective capital gains tax of up to 45 per cent - 47 per cent – previously capped at 23.5 per cent for assets held more than 12 months – hits younger savers hardest, precisely because they have the highest portfolio exposures to high-growth assets such as listed global equities, Australian shares, crypto, venture capital and private equity. When anyone builds a portfolio for younger investors, they rationally load them up with the highest-growth and most volatile assets on the basis that a long investment horizon allows them to weather the inevitable volatility storms. As investors age, these portfolios shift into more stable and income-rich asset classes such as cash and bonds, which are net beneficiaries of the CGT increase, because their post-tax returns now look more attractive relative to growth assets. As many investors have noted online, why would you allocate to a bunch of high-risk growth companies when Albanese and Chalmers are going to take almost half the upside while wearing none of the downside? Rather than helping younger generations, the highest CGT rate in the developed world will hammer them. And it is a double whammy because the many early-stage companies that have historically employed 20- and 30-somethings will now consider moving overseas. Their investors will simply not want to trade away half of their upside to the public oligarchs. If you allocated $10,000 to bitcoin after the March 2020 pandemic shock – which many young punters did, and which would now be worth approximately $92,000 – the new CGT regime imposes vastly higher amounts of tax. A self-funded retiree on the tax-free threshold would go from paying nothing to almost $24,000. Somebody earning between $18,000 and $45,000 a year would see their tax bill jump from $7400 to $23,900 – a 222 per cent increase. Those in the $45,000 to $190,000-plus tax brackets would have their bill rise by 93 per cent. Since the new CGT regime is, by definition, much more costly on higher-growth investments, it will punish younger investors who have much greater risk appetites and lower average incomes. afr.com/markets/equity…

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ethereal
ethereal@etherealcapital·
Labor don't care, they are simply after more revenue to fuel their profligate public spending and to gaslight young voters into voting for them as they are perceived to be 'taxing the rich'.
christopher joye@cjoye

There are two other dire consequences of this budget that nobody is talking about. The first is that the budget’s introduction of an effective capital gains tax of up to 45 per cent - 47 per cent – previously capped at 23.5 per cent for assets held more than 12 months – hits younger savers hardest, precisely because they have the highest portfolio exposures to high-growth assets such as listed global equities, Australian shares, crypto, venture capital and private equity. When anyone builds a portfolio for younger investors, they rationally load them up with the highest-growth and most volatile assets on the basis that a long investment horizon allows them to weather the inevitable volatility storms. As investors age, these portfolios shift into more stable and income-rich asset classes such as cash and bonds, which are net beneficiaries of the CGT increase, because their post-tax returns now look more attractive relative to growth assets. As many investors have noted online, why would you allocate to a bunch of high-risk growth companies when Albanese and Chalmers are going to take almost half the upside while wearing none of the downside? Rather than helping younger generations, the highest CGT rate in the developed world will hammer them. And it is a double whammy because the many early-stage companies that have historically employed 20- and 30-somethings will now consider moving overseas. Their investors will simply not want to trade away half of their upside to the public oligarchs. If you allocated $10,000 to bitcoin after the March 2020 pandemic shock – which many young punters did, and which would now be worth approximately $92,000 – the new CGT regime imposes vastly higher amounts of tax. A self-funded retiree on the tax-free threshold would go from paying nothing to almost $24,000. Somebody earning between $18,000 and $45,000 a year would see their tax bill jump from $7400 to $23,900 – a 222 per cent increase. Those in the $45,000 to $190,000-plus tax brackets would have their bill rise by 93 per cent. Since the new CGT regime is, by definition, much more costly on higher-growth investments, it will punish younger investors who have much greater risk appetites and lower average incomes. afr.com/markets/equity…

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Luke Cashmore
Luke Cashmore@___Cashy·
Since the new CGT regime is, by definition, much more costly on higher-growth investments, it will punish younger investors who have much greater risk appetites and lower average incomes. #GetLabourOut
christopher joye@cjoye

There are two other dire consequences of this budget that nobody is talking about. The first is that the budget’s introduction of an effective capital gains tax of up to 45 per cent - 47 per cent – previously capped at 23.5 per cent for assets held more than 12 months – hits younger savers hardest, precisely because they have the highest portfolio exposures to high-growth assets such as listed global equities, Australian shares, crypto, venture capital and private equity. When anyone builds a portfolio for younger investors, they rationally load them up with the highest-growth and most volatile assets on the basis that a long investment horizon allows them to weather the inevitable volatility storms. As investors age, these portfolios shift into more stable and income-rich asset classes such as cash and bonds, which are net beneficiaries of the CGT increase, because their post-tax returns now look more attractive relative to growth assets. As many investors have noted online, why would you allocate to a bunch of high-risk growth companies when Albanese and Chalmers are going to take almost half the upside while wearing none of the downside? Rather than helping younger generations, the highest CGT rate in the developed world will hammer them. And it is a double whammy because the many early-stage companies that have historically employed 20- and 30-somethings will now consider moving overseas. Their investors will simply not want to trade away half of their upside to the public oligarchs. If you allocated $10,000 to bitcoin after the March 2020 pandemic shock – which many young punters did, and which would now be worth approximately $92,000 – the new CGT regime imposes vastly higher amounts of tax. A self-funded retiree on the tax-free threshold would go from paying nothing to almost $24,000. Somebody earning between $18,000 and $45,000 a year would see their tax bill jump from $7400 to $23,900 – a 222 per cent increase. Those in the $45,000 to $190,000-plus tax brackets would have their bill rise by 93 per cent. Since the new CGT regime is, by definition, much more costly on higher-growth investments, it will punish younger investors who have much greater risk appetites and lower average incomes. afr.com/markets/equity…

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Convict_Conviction
Convict_Conviction@holl66582·
@cjoye My exact situation. Young aspirational people like me are now being disincentivized to drive productivity while being saddled with greater government debt burden we will have to pay off.
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Marko Matvikov
Marko Matvikov@MarkoMatvikov·
Question: Why were the capital gains tax changes applied to all assets, rather than just residential property? Answer: We wanted to drive more investment away from residential and towards more productive assets. Translation: It doesn’t make sense and I don’t have a good answer, so I'll talk down to you about indexation. Observation: The fact Albo would take this interview and respond in such a way shows he’s taking this young woman and others like her for mugs.
Jet Ski Bandit@fulovitboss

Have a listen to this dribble and see if you can make sense of Albo’s answer… The question: “Why were the capital gains tax changes applied to all assets rather than just residential property”

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The Australian
The Australian@australian·
Opinion: Angus Taylor is committing to fully removing bracket creep for the first time in 44 years and ending a regressive and massive tax burden on younger Australians. Read more: bit.ly/4dr0IRO
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David Bassanese
David Bassanese@DavidBassanese·
To my mind the worst part of the Budget was the effective doubling in the “entrepreneur tax” when selling a business from 25% to a world record 47%. Either Treasury did not know or care - which is worse ?
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Mike
Mike@timewarp999·
@RussellEgan @cjoye Sarah Ferguson did not ask Chalmers one question about the explosion in public services payrolls but gave Angus Taylor a hard time about pledges to cut the public services costs. The ABC is truly corrupt and a Labor party stooge.
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Pineapple on Pizza Speculator
@alisterberkeley @GeoffWilsonWAM @cjoye A silent 50% partner that: - throws red tape in front of you every chance it gets - takes, takes & takes out of the company - contributes nothing financially as a partner - doesn't remain silent as much as you would want them to
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Chris in Bangkok
Chris in Bangkok@bangkokaussie·
@alisterberkeley @GeoffWilsonWAM @cjoye All that’s missing here from the collective crypto bro and financial advisor meltdown is them going out and putting on hi-vis vests while they are having their sook.
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rylo
rylo@rylo75039344·
@C_Corday @cjoye “Maybe you’ll run into someone with a terrific investment idea, who won’t go forward with it because of the tax he would owe when it succeeds, Send him my way. Let me unburden him.” Warren Buffet .
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Alister Berkeley
Alister Berkeley@alisterberkeley·
This message exchange is with my ex-wife who is a Partner at a New York law firm working in international financial markets @GeoffWilsonWAM @cjoye 🤯
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Charles Herdy
Charles Herdy@CharlesHerdy·
@cjoye The Albanese government has gone rogue & is totally out of control. The are governing for the extractive, bureaucratic class & their contractors.
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Nomad
Nomad@JourneyMacro·
@jamesjansson @alisterberkeley @GeoffWilsonWAM @cjoye If Labor wins 2028, I'm out I'll be in NZ if I'm alive Australia is on the same trajectory as Argentina in the 50s There will be decades of poverty because there will be large scale capital flight
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Buy $TAO
Buy $TAO@potbellyman123·
@cjoye I think everyone knows that death and inheritance taxes are coming….how else do you pay for all the socialism ?
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christopher joye
There are two other dire consequences of this budget that nobody is talking about. The first is that the budget’s introduction of an effective capital gains tax of up to 45 per cent - 47 per cent – previously capped at 23.5 per cent for assets held more than 12 months – hits younger savers hardest, precisely because they have the highest portfolio exposures to high-growth assets such as listed global equities, Australian shares, crypto, venture capital and private equity. When anyone builds a portfolio for younger investors, they rationally load them up with the highest-growth and most volatile assets on the basis that a long investment horizon allows them to weather the inevitable volatility storms. As investors age, these portfolios shift into more stable and income-rich asset classes such as cash and bonds, which are net beneficiaries of the CGT increase, because their post-tax returns now look more attractive relative to growth assets. As many investors have noted online, why would you allocate to a bunch of high-risk growth companies when Albanese and Chalmers are going to take almost half the upside while wearing none of the downside? Rather than helping younger generations, the highest CGT rate in the developed world will hammer them. And it is a double whammy because the many early-stage companies that have historically employed 20- and 30-somethings will now consider moving overseas. Their investors will simply not want to trade away half of their upside to the public oligarchs. If you allocated $10,000 to bitcoin after the March 2020 pandemic shock – which many young punters did, and which would now be worth approximately $92,000 – the new CGT regime imposes vastly higher amounts of tax. A self-funded retiree on the tax-free threshold would go from paying nothing to almost $24,000. Somebody earning between $18,000 and $45,000 a year would see their tax bill jump from $7400 to $23,900 – a 222 per cent increase. Those in the $45,000 to $190,000-plus tax brackets would have their bill rise by 93 per cent. Since the new CGT regime is, by definition, much more costly on higher-growth investments, it will punish younger investors who have much greater risk appetites and lower average incomes. afr.com/markets/equity…
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David Pocock
David Pocock@DavidPocock·
Canberra is the startup capital of the country, an incubator for extraordinary innovations and we want it to stay that way. While I've pushed hard for and welcome sensible reforms to CGT concessions in housing, we need to avoid unintended consequences for the start up sector & and this is something I raised with the Assistant Treasurer yesterday. So important that govt gets this right. afr.com/technology/gov…
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