twensor

@DavidJReed100 @mcpoole84 At what time? What people? At no stage in the past have so few been in control and shaping a new technology with such wide applicability (language, memory, knowledge) to suit their own incredibly selfish greedy vested interests. Does that not concern you?

@twensor @mcpoole84 But people made the same argument at the time.

Am I the only person looking at all the problems in the world and thinking AI is the worst invention ever ? It solves nothing just causes unemployment

@DavidJReed100 @mcpoole84 Automation and mechanisation are about eliminating repetition at scale. This wave of technology is different and is far more insidious. It's development is being directed by a tiny number of sociopaths who already control obscene wealth but who want even more. Who benefits? #ai

You could make the same argument about automation, or mechanisation. The problem we face today, is that the government failed to drive the skills pool to the trajectory of the world. Economies that dominated global trade and exploited it to garner easy vote scoring, are now competing with the very people they once controlled. The low resident skills, prohibit challenging back the same trade at a meaningful level.

@ElbK19 @SenatorSurfer 1000 times this. Time to get the explosion of paid lobbyists and money in politics into the sunlight. #insiders #auspol

Pocock calls out vested interests & their stranglehold on the major parties. @SenatorSurfer has called for a public registry of lobbyists for years. Might this finally get up?? #insiders

@nickpmclaren I think he used the term "vested interests" not "elites". #auspol #insiders

Senator David Pocock says the major parties are protecting elites on gas and gambling & that’s a major cause of anger with our 2 party system. #auspol #insiders

@Tank9999 Asked by Speers to comment about the dramatic rise of PHON, Pocock says frustration and disappointment is not about left versus right but about the established parties being captured by vested interests and not solving real problems. Correct in every respect. #auspol #insiders

#auspol #insiders The idea that Aus has NOT contributed financially to Multinational Gas companies setting up business here is a nonsense It's just that since they got rid of Gough Whitlam for trying no govt has talked about partnership for guaranteed returns to the Aus peopole

@Cazzawhy Yes. And Speers is interrupting even more often than he usually does. #insiders #auspol

@twensor He’s worth listening too!

David Pocock getting a run on #insiders. This will be interesting. #auspol

@Deetray @just_brash Thanks, interesting read. Zero cgt on nominal gains < inflation. FR trying to spin that as a "loss" to offset real gains? That would get a laugh at Treasury. I'm sure they'll find new ways of gaming the system to reduce tax as that's all these "investors" seem to care about.

@twensor @just_brash I'll leave this here if you care to read.. afr.com/policy/tax-and…

Why should business people and investors pay less tax than PAYG workers?

@Deetray @just_brash Existing assets still have the existing rules applied until July 2017. From then on cgt is calculated on the after inflation (real) gain, minimum 30%. So a hybrid system if you hold existing assets past July 2017. Plenty of time to plan what's best for your situation.

@just_brash Dude - you haven't read the budget have you? And here you are commenting about it.. There's a new 30% floor on CGT regardless of the tax bracket.. my wife would have paid 0 in tax cos she would have been under 18k in income. Now she'll pay $5400 on an 18K income. $13,500 on 45k.

@Getitoutth40193 @Terry_Aylett Ditto.

@Terry_Aylett I’m with you

The faux outrage over the Australian Government’s very reasonable changes to reel in what’s essentially welfare for the wealthy, led by the despicable Murdoch media, is really driving me mad. #auspol

@mackaysuzie @centrevibe Not endorsing this firm but a decent summary of ATO compliance work with trusts in recent years. Just amazing what the mainstream media fails to report to the punters. bluerock.com.au/resources/ato-… #auspol #trusts #tax

@mackaysuzie @centrevibe Have a google for the ATOs anti-avoidance program named "Next 5000". Note that work commenced under the previous LNP govt. High net worth groups (over $50mill) getting looked at. They haven't got to the small fry yet. #auspol #trusts #tax

More small business owners embarrassing themselves by being used by the Terrorgraph

@NovoUntermensch @SimonBanksHB @liberalistic101 It is not a tax on the deceased estate at all. It is normal tax obligations. See this explainer: greenhalghpickard.com.au/deceased-estat… #auspol

@SimonBanksHB @liberalistic101 So a tax on an estate after death. Explain how this is not a death tax?

If you repeat the line "death tax" as a journalist Without making clear it is an LNP or conflicted tax adviser's talking point that has no substance in fact or law Then you aren't a journalist There is literally no element of the ALP's policy that supports that claim

@atwilliams0708 @j1o1h1n @Anne_E_Huth @InformDB @SimonBanksHB None of your earlier comments answer the question. You just keep asserting the changes are a "death tax".

@j1o1h1n @Anne_E_Huth @InformDB @SimonBanksHB See the earlier comments in this post

@KennethMoo25538 @SimonBanksHB Are you really saying that a testamentary trust should never be subject to any changes in tax law whatsoever, because... because...??? And if the law changes (for everyone) its somehow a "death tax" if it is applied equally to a TT? Please. #auspol

The government can't explain their tax changes. They are completely misinformed or are lying. Albo says existing discretionary testamentary trusts are not affected. But they are with new assets acquired by existing discretionary trusts paying the minimum 30% on income from those assets.

I love How the usual suspects when asked how they would be worse off under the Government's proposed tax changes Can't actually explain, how they would actually be worse off Granfathering It's almost like their angry about something else But don't have the guts to tell you

@Ernest1558161 @SimonBanksHB Farmers have been excluded from the changes: netimes.com.au/2026/05/12/far… The amount of misinformation that continues to circulate on the socials tells you that the vested interests who benefit from current arrangements are miffed & desperate to stir up unsubstantiated worry. #auspol

It must be a great shock to those who have set up Discretionary Trusts to now hear from tax agents and lawyers that they aren't really a means to minimise tax

@SimonBanksHB Yes. Amazing isn't it? Yet every single legal firm's website I've looked at regarding discretionary family trusts trumpet "tax efficiency" as a major benefit in the first sentence. #auspol

So the LNP have taken the bait on publicly defending discretionary family trust income splitting rorts & the ALP are firing back with both barrels. Good! Can't wait for the average punter to actually begin to grasp what's been going on for decades in this country. #auspol

@balindoon @fictillius If they have a disabled kid they should be able to get approval from Centrelink for a "Special Disability Trust" & get it setup & going while they are alive. Not very well known but it's quite generous for this legitimate purpose. And is unaffected by the changes. #auspol

@twensor @fictillius Maybe but testamentary trusts that a lot of people use for this have not

People really love their family trusts, hey?

@balindoon @fictillius Just hearing on the news tonight -- fixed testamentary trusts (which would be the case in a disability trust situation that's solely for the one beneficiary) are also exempt. Don't get sucked into the scare campaign. Check the factsheet: budget.gov.au/content/factsh… #auspol