NerfedWarlock

@laurashin Ethereum had such a head start and was held back due largely due to regulation industry. Grifters destroyed the credibility and hackers ripped the chain down to a halt. Slowly hyper liquid stole RWA while ETH is still working out what happened.

Between the EF and Bankless news, plus seeing all this RWA activity on HYPE/onchain, I feel like we're at some big inflection point ... Anyone else feeling this way?! It this the moment crypto grows up from a subculture and starts on its path to just becoming ... finance?!

@deebs_1234 @SimonCotter62 afr.com/policy/economy…

@nerfedwarlock @SimonCotter62 Right but that implies that the person would sell and buy another property, so the net result is the same and it isn't adding stock anyway. If someone needs to sell for life reasons I can't imagine it would make a difference.

Young first home buyers can no longer negative gear. But those if us who do can continue. Please tell me how the govt is assisting first home buyers

@deebs_1234 @SimonCotter62 As Negative Gearing is now Grandfathered on those existing properties. Therefore they will be reluctant to release those properties back to the market and remove their NG benefits. If you read the investors forums or posts. They are going to diamond hand.

@nerfedwarlock @SimonCotter62 I don't get this argument that investors are more likely to hold. Surely this only counts for those selling and buying another property? In which case they aren't adding to stock anyway right? I'm not being confronting here, I'm genuinely curious as to the logic.

@deebs_1234 @SimonCotter62 Negative gearing was causing too much competition. I agree. However carving out just the new home market is going to make it really tough for FHB. As investors will hold already purchased property. Treasury said these policies will build 35K LESS homes. So 👎

@nerfedwarlock @SimonCotter62 That's basically admitting that negative gearing was causing too much competition on the existing housing market, and by removing it you are removing that competition which should effect pricing. Also sounds like developers are incentised to build more homes given that demand.

@PollBludger 1:3 Aussies are financially inept. Unfortunately the younger generation don’t get it until they are older. I didn’t, but now I do.. and Labor are grubs

After a week of "young Australians are turning on Chalmers' budget" (as per News Corp today), the first actual poll finding: 41-27 in favour of negative gearing changes, 38-26 on CGT. The AFR's headline? "Labor’s housing revamp fails to convince voters" afr.com/politics/feder…

@Ben_Davison1 Oh Ben… sometimes I want to tell NASA how to launch a rocket.. but I realise I have no idea what is involved, so I don’t. The only difference between me and you is.. you think you know how it works and would probably tell them they’re doing it wrong.

Old white make boomer admits that trusts are used to cheat the rest of us The trust doesn’t “earn” $180,000. Someone made decisions, took actions & did something to earn that money The trust is just a vehicle to launder the money to three people instead of one Overdue change

@OMGTheMess She is actually wrong. 35,000 less homes!

Oh dear

@fictillius I am so impressed how you can be so angry over something you clearly don’t understand. Good work Ed. Keep it up bud.

Family trusts are literally sucking the tit of taxpayers dry now their beneficiaries have a big sook like a baby

@twensor @Matlock47825386 @drcwhos @hughriminton @billy_pinker @NoelWhittaker @OMGTheMess @AlanKohler I don’t get your point of anger. You also have the same ability to do that. The rules are the same for you.

@Matlock47825386 @drcwhos @hughriminton @billy_pinker @NoelWhittaker @OMGTheMess @AlanKohler That's right. In addition that couple can own a PPR of unlimited value along with up to $3 million EACH in super generating a completely tax free self funded age based pension. Pretty bloody generous tax concessions in retirement imho. #auspol.

I'm running numbers on family trusts. If the trust owned by mum, dad, and 19-year-old daughter earns $180,000 a year and they distribute $60,000 to each the tax will be three times $9,000 = $27000. At 30% flat, it's $54,000. That's double - The only way out is to change distributions to wages, but they must be able to justify the wage. It's a shameful attack on business

@DrewPavlou Just make the top rate 30% and close all the loopholes. 30% MAX income tax on … and anything below $25K tax at 0%. Tax gas and reduce gov wasted spending.

Taxes are too high in Australia It’s ridiculous that the top tax rate kicks in at a level where you still couldn’t even afford an average house in Sydney

@angelar68197975 Welcome to one of the highest taxed country for any investor/entrepreneur. Not trying to be nasty. But prosperity for future generations will collapse under such taxes. It never works out. And don’t just follow other people’s idea’s blindly.

Wealthy investment groups are spinning Labor’s tax changes ineffectual or a massive tax grab I’ll rely on august financial guru Ross Gittins who says Dr Chalmers has got it right When the wealthy are hit in back pocket they get extra nasty 🤮

@missrobinson We will ALL end up paying more tax! This budget reduces homes being built by 35,000 and still imports record number of people. People who already own property can still negatively gear… they won’t sell. So Good luck.

‘If these changes go through we’ll have to sell our investment properties and pay more tax’. Well, yes.

@QuentinDempster Most people don’t even understand it or can comprehend the flow on affects. It’s the people who actually know the impacts to small businesses/productivity and capital flows firing the warnings. The other people just want a pie and the footy on.

Polling indicates majority public support for Chalmers’ negative gearing/CGT changes to help level the property market playing field. But vested corporate media NewsCorp/AFR report otherwise and, daresay, will keep reporting otherwise .. until it is so.

@FinancialReview That’s the whole point! More targeted government… not government as the core of all industries and 47% on every Cap Table.

The proposal to index taxation brackets to inflation has triggered accusations from Labor that the opposition will need to slash spending on services. ebx.sh/d6NVe8

@ryu_tay Staggering how the Labor Supporter base is this financially inept.

"Why were CGT changes applied to all assets rather than just residential property?" "We want to make sure capital is diverted to more productive assets rather than investment properties" 😵😵😵🤡🤡🤡

@MsMirf @GeoffWilsonWAM You obviously have no idea how tax works! What I find most interesting in all this is lack of financial knowledge in the Labor Supporter base

@GeoffWilsonWAM Oh no! Those that earn income from assets are going to be taxed more in line with workers that earn their income from their own labour! The travesty 😭

🔥 GOVERNMENT HAS DECLARED WAR ON ASPIRATIONAL AUSTRALIA 🔥 A battalion of millions is rising up to smash their toxic tax raid of scrapping the 50% CGT discount and punishing anyone who dares to work hard, invest and get ahead. This isn’t “reform” it’s a direct assault on young Australians trying to buy their first home and build wealth. The Labor Government is betraying the very people they pretend to champion. Against the odds together we beat them in 2019 and 2025. This time we need all your help to stop this insanity. The fight starts NOW.👇 #HandsOffOurWealth #StopTheTaxRaid #AussieBattler @mcranston1

@parmaus @Micktism @GeoffWilsonWAM Tell me you’re financially uneducated in 3 words…

@Micktism @GeoffWilsonWAM Investors are crying

@Fletcher70Irwin @GeoffWilsonWAM They’ve likely paid enough tax during their working life, now you want to screw them again. Sounds fair. Income tax is too high in this country. Bracket creep is crushing all workers and labor spending is off the charts pushing prices up making us all poorer.

@GeoffWilsonWAM Yet the self funded retiree with $2 Million in a pension fund pays less than my son earning $75,000 pa .. come on Geoff who are you trying to kid?.. The wealthy in Australia . especially retirees pay f all in tax

@MickamiousG 47%+ on income tax.. plus DIV 293 tax… plus GST if I purchase a good or service or the fuel excise Tax if I buy fuel. But did the $100 come from Sportsbet windfall?.. then just the latter 2 maybe

Trick Question: For every $100 earned and that you spend, how much tax will pay on that $100??