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If you are earning less than $45,000 your marginal tax rate is zero for $0 – $18,200 and 16% for $18,201 – $45,000.
However if you’ve bought a few shares, or maybe invested in a few antiques - that have had a capital gain, sneaky Albanese now wants to tax that not at your marginal rate, but at 30%.
Its a direct attack on low income earners and pensioner.
PoliticalPilot@PilotPoli
The 30% minimum tax on capital gains is the worst tax policy change in Australian political history. It's effectively saying to the average punter, don't save, don't invest, and don't try to make your money work for you. I've been a Labor member and voter since my first election, that ended tonight.
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