Emma Waldon

@GeoffWilsonWAM There would definitely be enough shareholders to require a general meeting to be called and put it to a vote

Thoughts?

@australian He can’t promote because it makes no sense

Opinion: Jim Chalmers has vanished from budget promotion duties while Kevin Rudd’s former team steps forward to salvage Labor’s struggling economic message. Read more: bit.ly/4dOURWt

@FinancialReview This budget needs so many carve outs and concessions the cost of applying it will be astronomical. If only they had consulted with people in the real world. Clueless.

The treasurer signals a boost to salary-earner tax concessions, as the prime minister confirms small business exemptions to capital gains changes. ebx.sh/XBqFSX

@keithmarlowau People will be spending more than any potential tax cut getting a tax accountant to work it out. 🙄

Its a sh#t sandwich. The old system was easy to understand, why not just tweak the specific problem area wrt property and leave the rest alone??? Otherwise this sandwich is just a tax grab.

@SatPaper It’s not just the media. Small business and investors can use a spreadsheet and calculator. I’ve never seen a budget discussed on the street in so much detail and negativity from such a broad range of people. They can think it’s a scare campaign if they want.

Inside Labor, the Albanese government's fifth budget was initially met with rapturous applause. That quickly evaporated as the budget met with the biggest media attack seen since the anti-carbon tax campaign more than a decade ago. satpa.pe/Vyrcgiw

@FinancialReview The preparation of this budget would make a great episode of a Utopia style tv show. They can’t articulate responses to valid issues such as those outlined here because they don’t get it. We are being let down by our political leadership on all sides.

Treasury’s shortsightedness will reduce the incentives for all businesses to invest, putting a dampener on growth, productivity and our global competitiveness. ebx.sh/MsJ3aJ

@FinancialReview Really. The deduction that many people that work for themselves validly claim anyway is being held hostage, with the deduction in 2028 that will be eaten up by bracket creep.

Anthony Albanese has flagged broader carve-outs for business from the CGT increase, with a twist. ebx.sh/C1P3NF

@cjoye The proposed CGT and R&D tax amendments will decimate the Australian life sciences sector. Will make it significantly harder to raise capital for clinical trials and biotech companies will need to consider if Australia is the best place to do business. Madness.

Why would the CGT concessions be for tech only? Why not for all Aussie businesses? Why is tech more important than any other sector? And given the polling suggests voters clearly would have rejected these proposals at the last election, and there is patently no mandate to introduce them given the election was won on the many promises not to ever touch CGT and negative gearing, why not do the only honest and honourable thing - and put these radical changes to the test of an election? Either call one now or put them to the next election. Trying to railroad them home on the basis of a majority government that was voted in on the premise it would not make these changes is demonstrably non-democratic. It is also very unAustralian… At least give everyone a chance to vote on whether they want to overhaul the economy in this way. Even @DHughesy is up in arms about being rorted by the professional pollies who have never started a business or hired another Aussie in their lives

@clairlemon Fuelled by flawed Treasury modelling and bad stats that underestimate how many “younger” people this impacts

What's interesting about this backlash is that Albo & Chalmers do appear to be genuinely surprised by it. Which tells you that very few people in their circles come from private industry-- a massive self-sealing bubble. x.com/SkyNewsAust/st…

@EdSaint61 Exactly. Everytime I’m on a Qantas flight business class is full of politicians, their staff and Qantas staff… very few actual business people in business class.

Politicians should fly economy class and should pay from their own pocket if they want an upgrade. It’s not like they can’t afford it with their inflated wage #Auspol2026

@JulianHillMP Not sure how disincentivising business investment helps someone get a home.

Good for young Australians and good for the nation. #auspol

@TonySheldonNSW They’ll be in negative equity shortly

We've helped 250,000 Australians buy their own home with a 5% deposit, and we're building 100,000 homes set aside just for them.

@Ryandally08 Aspiration for none. Apparently people that earn a salary from government or multinationals are the only ones that work hard.

#BREAKING Prime Minister Anthony Albanese has delivered a feeble defence of his Government’s tax policies, doubling down after days of criticism to declare the reforms are necessary to ensure “aspiration for all” Speaking at Victorian Labor’s annual conference on Saturday, Albanese doubled down about the need for controversial changes to negative gearing, capital gains tax and death taxes that were unveiled in this month’s federal budget. There had been speculation that Albanese was looking to backflip on some aspects of the budget, given how poorly it was received but last night, he signalled that Labor would plough ahead with the tax package overall and rubbished the broader backlash by saying that trusts were not an option for most Australians “working their guts out” So penalise the ones it is an option for? Albanese then spluttered “These Australians, millions of hardworking people, will never be able to access a trust. Never sat around a kitchen table and thought, have we thought of setting up a trust? I mean, seriously” “The biggest investment that the majority of Australians ever make and the biggest hope that they ever have is to work hard and buy a home of their own” Seemingly oblivious to the fact his new tax changes make that dream almost impossible. He then delivered this whopper to a few chuckles in the crowd: “Labor is the party of aspiration” Bizarrely, he then began to weep as he described how young people were going to auctions and competing with bidders who could afford to spend an extra $30,000 on a property because of the deductions they could claim on their tax. Again trying to justify himself. He continued “We will not allow Australia to become a country where aspiration is only for some” Well, Anthony I think you’re talking about yourself as the proud owner of 4 homes. The hypocrisy of this man is staggering.

@DerekFranc90653 And the biotech sector which is also disadvantaged by the proposed R&D tax changes. New capital investment in micro caps has already stopped while this mess is sorted out.

So stock pickers, people holding diversified portfolios, and mining exploration companies are to be "eliminated", so young people can have the 'dream' of owning a home. That sems like a good reform? What do you think? Please forward far and wide. afr.com/policy/tax-and…

If this goes ahead, ASX will shrink and a lot of these sectors will be game over: * Microcaps early startups * Mining explorers, developers without revenue * Early stage bio-techs * High PE growth stocks with huge runway Money will rotate into * High dividend stocks with no growth * Cyclical mining producers with dividend * Index ETFs and never sell How depressing...

@BarbaraPocock Most people I know do whatever they can afford to assist their children and grandchildren. They know who they are 🙄

Conservatives and tax minimisers hide behind young people - who they have just discovered. Well said Greg Jericho. thepoint.com.au/off-the-charts…

@ALeighMP The instant asset write off is a timing difference and the R&D changes will have negative impacts to the life sciences sector as clinical trials tend to be weighted to now excluded supporting activities and many have been operating for 10 years+ the arbitrary cutoff for inclusion

Our budget helps small business invest and innovate: a permanent $20,000 instant asset write-off, permanent loss carry-back, and R&D incentives to boost research by new start-ups. #ausecon #auspol

@psyclaw Let’s structure tax and regulation to incentivise the lowest common denominator. Businesses that fail. Sounds like a winning approach adopted around the world.

Young woman on 7.30 criticising budget. Says young people see starting a business best way to become home owner. But budget CGT changes means starting up a business is disadvantaged. Could some kind person tell her that less than 50% of new businesses survive 3 years. Taa.

@AlboMP Living the dream. I’d caution any young Australians to not rush into home ownership at the moment as property values and the economy decline as a result of this budget.

We're bringing the dream of home ownership back in reach for young Australians. And it's why we're changing property investor tax breaks to give first home buyers a fair go.

@farmercate2 Exactly each will have many multiples of that as future beneficiaries. It effects more than 5%

80% of Australian trusts are discretionary. (840,000) Labor are correct saying that only 5% are affected by the proposed legislation atm. Over the next 10 yrs as Gen X retire that number will increase dramatically. Millennials will be the losers !