David Whitehead

The thing that is missing for this whole picture is the individuals, sole traders and 10 yr pre retirement aged cohort. We aren’t all billionaires. It is fair to say that after 30-40 years in the workforce and after contributing close to $2M in life long income tax as an employee surely there is some sensibility at the end. Personally I’ve planned for 20 years to be a self funded retiree but most of my investments have been in the last 5. I don’t own negatively geared property. My shares and crypto now minimum 30% tax and reality is likely 80% of my gains due for disposal this year will be in the 47%. The effective rate is around 44%

@CmonMick @hammo1859 @Lj814453841367 @ytedz @rnclelland Incorrect. It reduces speculative and high risk investments due to lack of potential gains. It will also kill innovation through lack of investment. Billionaires are not billionaires because they 'day trade'. They're your financial institutions and Super Funds.

That 47% figure is a lie. If you're smart enough to run a cafe, you should be smart enough to work that out... Stop falling for it. #ffs #Budget2026 #CapitalGains #auspol

@2020digging This is narrow view. Say you start a business and within 3 years your circumstances change. You’ve got a booming business and a sick parent or injured spouse.Not every business or individual holds for the long term. It’s happened to me on both fronts.

#afternoonbriefing CGT is paid at the sale of an asset? Most businesses would operate for decades, & after making a living, a profit & providing material benefits for society along the way, paying CGT is likely the last thing that would’ve prevented that business starting up.

@rnclelland Yep. So if you sell your cafe for $2m then 47% is paid on $1,810,000. Unless you’ve also taken a wage during the year. Very $ of that wage means another 47c paid on profit.

@ytedz *over 190k*.

@realRick_AUS It’s been on their agenda prior to 2019 but March 2025 there were dot points circulating on potential considerations.

Has anyone asked how long Jim Chalmers and treasury had been working on the changes to CGT? Because it wasn’t that long ago that they said they weren’t going to change it. So, Exactly how long ago did they decide on changing it? The timeline is important.

@TMFScottP Thank you. Appreciate the find, we’ve actually been through in depth. While it is a unique example, we aren’t the only ones in this situation. There are over 100 other aussies involved. We won’t hold the asset until July 2027, perhaps later.

@ytedz I can't speak to your specifics or the specifics of the legislation. This from Google:

We've really, really gotta stop expecting 'no-one loses' policies from governments and oppositions. It's national-interest poison, driven by focus groups and grievance politics. We should choose the losers carefully and fairly, but the national interest *must* come first.

@MarkoMatvikov Not ‘If’, when. We’ve already seen and increase to the retirement age to 67 during my working career and changes to super tax treatment are inevitable over the next 20-30yr horizon. Especially when governments ‘form different views’

Super is increasingly the only viable investment vehicle in Australia. Setting aside the potential for losses - what happens if the government says they’re increasing the retirement age because they need you to work longer to pay more tax? Or what happens when they decide to simply tax your withdrawals in retirement after you’ve been forced to invest it there under current settings for decades? This isn’t about stomping on super - which has its merits - but to highlight the risks for future generations whose opportunities to invest are increasingly centralised under government control.

@TaxPawspective He’s not real

Ash is plain wrong 👇 Say he founded a company with $1,000. After a decade of building its business, he sells for $5m. If Ash’s $1,000 cost was indexed to $10,000, his tax on the $4.99m capital gain is $2,316,138 (using 2026 tax rates). That is a 46.32% tax rate.

@TMFScottP This is a real world example. Not all assets hold over the long term. Let’s say $50k invested in SPAC, 5 years ago. Final deal lands July 2026. $5.2M Crypto assets issued at same time. Even if we sell $50k of the asset the full gain is assessable.

@ytedz Except it depends how the to-date gains are treated. They're unlikely to be backdated.

@AshPolitik Ash ain’t a real person. Either that or he’s dead inside.

Taxing lazy passive generational wealth to match your hard labour as a worker is what we call in Australia, a "fair go".

@AshPolitik That is a lie. We have an investment about to land and we will dispose of it in the tax year of receipt. Every dollar above $190k earnings taxed at the ATO published rate of 47%

You'll never pay 47% tax on nominal capital gains. Top marginal rates pay effective rate of 27.3% on 5yr hold 30.1% on 10yr hold One of the lowest rates in the world. Other countries tax the whole gain, Australia doesnt. Facts matter over your ideological game.

So the Budget estimate that rents will rise by $2. Seriously how could anyone in government consider this to be a reliable forecast. Rental review increases are generally $20-50 per week. It’s incomprehensible that anyone could look at the $2 figure and say ‘yes, this is a reliable forecast’

@Peter_Fitz Just her world view and political positions. She may have some papers but she is still bat shit crazy.

Deano, among other things she has a top-class law degree and had a successful career as a barrister. What on EARTH makes you think she lacks intellect, beyond your usual derision for anyone who doesn't share your political views?

@eni_col @Potstirrer111 I’m not making the policy. That’s why. The outcomes will be the same.

@ytedz @Potstirrer111 Why aren't existing new builds counted then? Ie if you invested in a new build 5 years ago, no cgt discount now.

Lessss go! Finally the end to negative gearing

@TMFScottP Classic sign of nervousness. Calm resolve only comes from confidence.

Chalmers speaking incredibly quickly (I should know!) on 730 - seems like he's desperately trying to get the talking points out at a million miles an hour. #Budget2026

Another few interest rate raises ahead. Negating almost every effort to reign inflation, cost of living and housing affordability. Stay tuned for the next excuse and poorly conceived short term solution.

@aaronsmith Agree, because the current government, despite being in their second term simply can’t build or create conditions to build homes.

From next year: negative gearing applies to new builds only. The capital gains discount stays, only for new builds. Tax breaks should reward people who add to housing supply, not those competing with first home buyers for existing homes. Smart policy. Significantly fairer.

A great example of why the contemporary terms of ‘misinformation’, ‘disinformation’ and ‘formed a different view’ exist. Obfuscation. You are either principled or not. Facts vs opinions or truth vs lies. Our current PM, Treasurer and Finance Minister are well documented liars. The public record demonstrates the fact that the PR gurus can’t ignore

'Come to a different view' rather than simply accept it's a broken promise. No-one is buying it, Treasurer. #Budget2026

@AvidCommentator @TMFScottP There willl be moves on Super Tax rate next. The current government incumbents have HSC student level reasoning. Whack-a-mole style, oblivious to the outcomes.

@TMFScottP This is absolutely idiotic and if you listen very carefully you can hear the capital getting ready to exit the country...

I'm in favour of the return of CGT to indexation, but the imposition of a minimum 30% tax rate is serious overreach. Like last year's proposed Super changes, they've found the right problem, but overdone the 'solution'. A poor structure, Treasurer. #Budget2026