@HowardFMaclean 500,000+ Australians earn over $190k - is that 'very few'?
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G-Train
3.6K posts
A lot of people are taking this as an argument to lower taxes, when what it should actually demonstrate is a need to lower house prices, particularly in Sydney. 190k is a very good wage! One that very few Auatralians earn - the fact it's not enough is a massive policy failure.
Drew Pavlou 🇦🇺🇺🇸🇺🇦🇹🇼@DrewPavlou
Australia’s top tax rate of 47% kicks in on an income that still would not allow you to afford a mortgage on the median home in Sydney. So the government calls you rich but you cannot afford to buy an AVERAGE house in Australia’s largest city.
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@MisinfoFact If CGT discount was only removed from residential property, investors would find other asset classes relatively more attactive, meaning they are less likely to compete with owner-occupiers.
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@scubalator Most people save for a house deposit in cash?
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People wanting to stay rich at everyone else’s expense are suddenly doing it tough.
Meanwhile, younger people might actually have a shot at owning a house again.
Sounds pretty good to me.
that stock chick@ausstockchick
Boomers selling houses have made millions on the old rules. Stock investors over 40 have made millions on the old rules. But investors under 30 now are going to find it incredibly difficult to make millions on the new rules. Albo just created a generational divide by trying to fix the current one. #auspol
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@thenightlyau Are we suppossed to feel something for her?
Because I don't, at all.
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One of Australia’s most successful entrepreneurs has slammed Labor’s budget and said they would have never started a global empire under the new capital gains tax rules. READ HERE: thenightly.com.au/business/janin…
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@Cherie1975Rules @thenightlyau If she doesnt start her business, the government gets $0 of tax from her, you think that's a better outcome??
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@thenightlyau Well that says she isn’t smart enough to run a business without being a burden on the tax payers. No great loss to society either way
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The concerns commentators have about the CGT discount and Negative Gearing are created because our income tax rates are too high.
If Australia’s top marginal rate was around 25-30%, then all the anomalies and structuring incentives disappear.
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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 🤮
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@buggerlugs___ @BradKlibansky So glad we didn't give them Rowan Marshall for nothing.
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@BradKlibansky Dogs supporters: that’s way unders for a star of the game.
Geelong and AFL media: take what you’re given and be grateful ya peasants.
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⏪ 2024 AFL Trade period:
Geelong receives: Bailey Smith and Pick 45
Geelong gives up: Pick 17 and 38
⏩ Round 10, 2026: Smith is averaging a career high 32.2 disposals, 6.9 inside 50’s & an equal career high 5.6 clearances a game. He’s also second in the AFL for meters gained with 637.6m per game. Huge numbers.
After tonight, Bailey Smith will have played 33 games for Geelong. In those games, he’s only had under 25 disposals three times (23 x 2 and 22).
One of the great trades of recent times.
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Love this from Sydney, get on board or fuck off.
7AFL@7AFL
"In consultation with the Rainbow Swans, members of the LGBTIQA+ community and the St Kilda Football Club, we felt it was appropriate to shift our 2026 Pride Match to ensure the game has the positive impact that is intended." Sydney has dropped St Kilda as its Pride Game opponent due to the Saints' handling of Lance Collard's Tribunal case.
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@jasonprgressive @Keg767 "she doesn't work" so doesnt pay tax. surely you know that?
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@Keg767 You pay income tax on interest surely you know that?
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My wife doesn’t work. We are blessed to have some money in savings.
Let’s say she puts $100K in a hi interest account at 5% at the end of the year she owes nothing in tax.
However if she gets a capital gain of $5K she’s up for $1500 in tax.
What an asinine policy! Ludicrous!
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@AngusTaylorMP You are the reason Labor have the audacity to try this type of tax reform. An absolute dud.
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Australians who work hard, pay tax and contribute should come first.
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@Peter_Fitz Crazy how those that pay a huge proportion of tax also get the most benefit from tax deductions!?
I think you are smarter than this...
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THis puts it in perspective, surely?
Kurt Lass@KurtLass1
The current CGT tax concessions and negative gearing are a form of government welfare for the wealthy at taxpayer expense. 83% of CGT benefits go to the top 10% of income earners. 53% of negative gearing benefits go to the top 20% of income earners. theguardian.com/news/2026/may/…
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@PedlarFan @BigBigsaint21 @AzTecFit "Love this from Sydney"
"Cry more nerd"
Immediate loss of credibility 🤣🤣🤣
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We're rolling out more tax cuts for working Australians now.
Plus an extra $250 off working Australians’ tax bills permanently.
And our new $1,000 instant tax deduction, no receipts needed.
Because we know every bit of help matters.
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@aaronsmith The top earners get the benefit because they pay so much fucking tax. You can't get th benefit if you pay no tax. These stats are meaningless
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Who benefits from Australia's 50% CGT discount (2022–23, Treasury)
Top 10% of earners: get 86% of the benefit
Top 20%: get 89%
Over-60s: get 52%
18–34 year olds: just 4%
Avg benefit to top earners: $86,000+
Avg benefit to bottom 60%: ~$5,000
ie - the young do not benefit from CGT disc
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@FootyEgg "Not anymore" so the 10 years that they were sponsored by Qatar and participated in the pride game mean nothing??
Saints player says he didn't say a word and they back him, so Saints get booted?
Clearly the Qatar sponsorship is more problematic than a player not saying a word
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“But Sydney is sponsored by Qatar!!”
No they are not. Not anymore.
“But Qatar owns Virgin!”
They have less than a 2% stake in Virgin.
“But Sydney had a player do the same thing!”
He self reported, accepted his ban, Swans added extra on their own. Not did they try to justify it.
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@AdrianGarbgg @Darren_Parkin @sydneyswans Were involved in the pride game for years with the Qatar sponsorship peanut
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@Darren_Parkin @sydneyswans They’ve already ended Qatar peanut
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So the Swans took millions from a government owned airline from a country where homosexuality was a crime…
But they dump the saints from pride game because they defended a player at the tribunal….
Hypocrisy on a nuclear level from @sydneyswans
7AFL@7AFL
"In consultation with the Rainbow Swans, members of the LGBTIQA+ community and the St Kilda Football Club, we felt it was appropriate to shift our 2026 Pride Match to ensure the game has the positive impact that is intended." Sydney has dropped St Kilda as its Pride Game opponent due to the Saints' handling of Lance Collard's Tribunal case.
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@OsherFeldman Taking these types of changes to an election will always get you defeated, it is where democracy doesn't work
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At least Shorten had the integrity and conviction to take these tax changes to the voters. The public rejected them at the ballot box. That’s how democracy is supposed to work.
Shorten lost the election, but kept his integrity. Albanese won the election, but lost his integrity.
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@Ben_Davison1 Crazy how tax deductions benefit those who pay the most tax!!
How could those that pay no tax benefit from a tax deduction??
But yes - let's demonise those that do the heavy lifting of contributing financially to society
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80% of Capital Gains Tax discount benefits the wealthiest 10% of people
That means 90% of us have been subsidising the wealthiest people to turn our homes into unproductive tax write offs
Labor’s budget is trying to fix this inequity
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So guys honestly,
What can we actually invest with and not be ripped sideways in tax ??
Crypto < Taxed
Stocks < Taxed
Minerals < Taxed
ETFs < Taxed
Honestly, where the hell you meant to make any coin without being ripped?
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