
Xman8808
2.2K posts












short term investing in stocks and crypto just got a lot more expensive in Australia. you will own nothing and you will eat the bugs.







Rich people already have an equivalent of a universal basic income. They don’t work for their money. They can sit around and collect on their passive investments. Any work they do is optional and for personal enjoyment. They seem to do okay.




Jim Chalmers is about to utterly fuck small business owners. Imagine for a moment: - you start a small business by building a website, some equipment, and buying a few supplies - it cost you ~$5,000. - over the next 10 years you work incredibly hard (you survived the GFC and COVID19) to grow your business. - you then have an opportunity to sell it for $3M. - you think you've now got a $3M nest-egg that will allow you to move onto the next stage of your life (possibly an early retirement). - But in comes Jim Chalmers, who changes the CGT rules, and now you're going to have to pay the top-marginal tax rate on $2,990,000 ... so you lose ~$1.4M and now only have half of what you thought. This is an appalling act of bastardry and will utterly destroy small business and entrepreneurship in Australia.
















