@billynormanfp: CGT changes… are not actually about “inter-generational fairness “ or housing affordability.

Mark :

No other country takes inflation into consideration when determining gains

Glen :

investors should be taxed more. we need to reward workers that produce things and spend their income. we don't need the overlords that hide their wealth in investments to avoid tax. we want a tax system that rewards building, producing, creating and servicing rather than rewarding the people using wealth to create more wealth without contributing anything

Breadcrumb :

Trent Powell :

in a capitalist society we should tax capital and not labour. don't like the system, change it.

random :

“They are two different things” - are they really? Last time I checked $10k salary or $10k capital gain still buys the same standard of living / consumption.

Isa_Minelife :

Then treat my wage the same as a business then. Cap my tax at 30%. Let me deduct my car for driving to work then. Don’t tax my wage until I take out my fuel and tools for the week.

April D :

It’s actually even worse because investors are no longer eligible for the lower tax brackets. This is not a 1% issue either. My husband has worked as a tradie his whole adult life and due to injury can no longer participate in the industry. He has no other employable skills. And not eligible for government assistance, as such, he trades, taking a risk with his very hard earned savings. Any profits he makes is instantly taxed at the higher threshold. So even if he only has a profit of $18000 he gets no tax free threshold, no 16c to the dollar, jumps straight to 30c, how is that fair????

Christopher Norman :

Businesses and investors pay taxes on profit, workers pay taxes on income. These are not the same thing.

BecOnley :

The proposal doesn’t even tax investment the same as income. Income gets a tax free threshold and marginal rates. Investment income is now MINIMUM 30%. The investor doesn’t get a tax free threshold or marginal rates under 30%.

23dreadnought :

Of course it’s income should be taxed as income

Goldynt :

I don't think gains should be taxed when done in a personal name under 2m

Todd :

New Zealand?

tld8102 :

But isn’t Australia unique as we don’t do double tax?

World's Worst TikTok :

Didn't you contradict yourself when you said no other developed country taxes the same way (that we're going to) and then you said house markets exploded in other countries who don't have the same concessions we do (used to)?

Spicy Racoon 🦝 :

Just a tax grab. A PAYG doesn’t carry any risk.

badamj :

land value tax?

wherehugoigo0 :

Explained well

random :

“Reward people who take risks” - they don’t need a tax break to take extra risk.

MelbGuy :

No. More risk involved in gains

Your dad :

vote for coalition!

mollywally :

There is a housing crisis in every capital city in the world because of wealth inequality. Low interest rates and favourable tax systems let the rich get richer and richer until they have more than some countries. Ending the CGT discount moves the needle a bit to rebalance wealth inequality. Restricting it to just residential housing wouldn't stop the wealthy from effortlessly building more wealth. The CGT changes wont be enough. We need more taxes that rebalance wealth inequality, or our standard of living will continue to be siphoned away. Businesses can't flourish without customers. Without, ordinary people with money to spend, how will any business thrive?

jjjh2104 :

No. The government doesn’t give people the incentive to make better of the themselves. If I use my net income to save and invest I get taxed on that again. How many times do the want to tax us.

Nolzy :

The revenue can come from reduced government spending

Frank Act :

main line "investment money come from our pays which we already paid tax on " so why to double dip by Government in name of tax, gst, duties, fines, etc

Brian McDonald :

100%.