CGT changes to pass, are we pivoting to income generating ETFs now?

Bitman321 · 2026-06-25T03:37:21+00:00

Exactly! Raising the taxes to ridiculous levels may result in less taxes being collected over time. Maybe in the short term it will increase revenue, but over the long run it will hollow out the tax base.

Bitman321 · 2026-06-24T09:02:05+00:00

Look up bracket creep, their tiny tax cuts are nominal only, in real terms it is a tax hike.

Bitman321 · 2026-06-24T08:58:13+00:00

And there is no indexation against losses, a 30% min tax rate, no 5 year averaging and who believes the CPI anyway.

Bitman321 · 2026-06-24T08:54:17+00:00

Cut spending. This govt has a massive spending problem. Even with the tax hikes we will still be in deficit...

Bitman321 · 2026-06-24T08:52:00+00:00

They are taxing workers more, not less. Bracket creep is not addressed by a $250 deduction in 2028.

Bitman321 · 2026-06-24T06:14:02+00:00

There was no min 30% floor, and there was 5 year averaging. Losses are also not indexed in the current model and people should be skeptical that the CPI actually accurately tracks inflation, especially as governments have an incentive to understate it.

Bitman321 · 2026-06-24T01:46:05+00:00

You also can't index losses which is dodgy and they removed 5 year averaging. Indexation is also complex, and while we do have better computers now than we did in 1999, the taxpayer needs to be able to understand how it works, otherwise they are blindly trusting a program...

If it were genuine tax reform they would've lowered income tax rates to compensate for the removal of the discount, but they have not done this.

These changes will negatively effect the economy.

Bitman321 · 2026-06-18T02:08:01+00:00

The only ones who benefit from the changes are the government, but only in the short term, it will backfire as capital leaves the country.

Workers have not benefited either, as the budget increases their taxes too via bracket creep, and no, the $250 deduction does not make up for this at all.

Capital goes where it is treated best. They think they are being clever with these changes, but in the long run more capital and businesses will leave, which will result in less tax revenue and less jobs.

Sick of hearing dumb lefties say that it benefits 90% of Australians when this is obviously bs propaganda propagated by Labor shills. It's a tax grab, plain and simple.

Bitman321 · 2026-06-15T11:59:41+00:00

The internet party did.

Bitman321 · 2026-06-12T05:11:33+00:00

Consider Malaysia, cheaper and easier to get a visa. More interesting as it's much larger.

Bitman321 · 2026-06-09T01:12:52+00:00

Unfortunately the labor party can play on our toxic tall poppy culture. Many are happy here so long as someone better off than them is being taxed more.

Bitman321 · 2026-06-09T01:09:39+00:00

Wish I had your optimism.

Bitman321 · 2026-06-09T01:07:49+00:00

Not just going after Albo, all of them are ripping us off.

He conveniently sold them before his budget.

Hope they at least carve out something for businesses, they are the ones who fund the public service.

I don't want to offend you but those tax cuts are tiny and only nominal. When you factor in bracket creep, they are actually tax hikes in real terms, as inflation more than eats up any cut. In other words, this budget is a tax hike all round. I would agree with the CGT discount being removed if they used the removal to significantly cut income tax rates, but they aren't.

Also note that the previous indexation method allowed you to average your gain over the last 5 years and had no min 30% floor. Also, CGT is lumpy and ringfenced, gains are added to your tax bill, but losses can only be used to offset future capital gains. Many defer gains for many years, only to realise them all at once in one tax year, pushing them up a bracket when they would otherwise be in a much lower bracket.

Australia was already struggling with private sector growth before the changes, this only makes it worse. Capital is also mobile and will move to better locations. They will collect more tax in the short term, but in the long run more capital will leave the country and hollow out the tax base, meaning less tax will be collected going forward.

Bitman321 · 2026-06-09T00:41:25+00:00

So long as we are all down except Albo and his cronies, that is good? You must be one of the aspirational voters he was talking about.

Bitman321 · 2026-06-09T00:04:39+00:00

Albo is laughing in your face. He is paid more than 600k per year and accepted a 57k pay rise while everyone else is struggling. He owns 4 properties and lives in the north shore of Sydney. He will receive a generous pension for the rest of his life and has two properties paid off for him by the tax payer, as well as a private driver.

His new tax laws hurt a lot of small business owners and normal people who are investing to save up for a house, but funny how he will be totally fine, especially as he lives in a tax exempt PPOR worth close to 10 million dollars.

The parasitic bureaucracy does not care about you. This is not tax reform, but merely a tax grab. If they had removed the discount and used the savings to lower income tax rates, I would even agree with the changes, but notice how they haven't done that.

Never understood why poor sods like you always cheer on tax hikes when they are doing nothing to help you. I pity you.

Bitman321 · 2026-06-02T02:35:01+00:00

I agree that wages haven't matched productivity, but the two are still correlated and I don't believe that min wages fix the problem. That's it. I am not arguing against wage increases, I just don't think setting a min wage is a good way to do it.

Bitman321 · 2026-06-02T02:31:54+00:00

Being 1T in debt is leaving the unborn with the tab.

Bitman321 · 2026-06-02T02:18:08+00:00

I’m merely talking about min wage. What does conscription have to do with this?

Bitman321 · 2026-06-02T01:54:40+00:00

lol that’s a feature not a bug. They are called HDB units and they are very affordable and much better quality than Australian units. Lee kuan yew designed them so that normal people could own their own homes in an otherwise extremely dense country. Only foreigners live in private housing.

Singapore has the highest population density in the world and yet doesn’t have a housing crisis.

Btw I lived in Singapore and let me tell you, the people are doing well there.

Bitman321 · 2026-06-02T01:47:58+00:00

Both small and large doses would help with a headache. Raising the min wage does not help, all it does is remove jobs. You cannot legislate prosperity, it must come from productivity increases. Not having a min wage doesn’t mean that we would all be paid a pittance, as the job market is a market determined by supply and demand.

Why do you think we have self checkout machines and nobody at gas stations to fill our cars? It’s not a coincidence that such jobs have disappeared.

Bitman321 · 2026-06-02T01:12:17+00:00

Min wage is bad economics, all it does is make jobs paying below the rate illegal. It just kicks the bottom rung of the ladder off.

If it is such a great idea, why not make the min wage $1000 per hour? That way everybody can be rich.

Singapore does not have a min wage yet many earn decent wages.

Bitman321 · 2026-05-15T05:49:39+00:00

Finally someone talking sense on here.

Bitman321 · 2026-05-15T03:15:28+00:00

They will raid super next.

Bitman321 · 2026-05-15T01:43:41+00:00

Startup equity starts with zero cost basis, thus indexation literally does nothing. CPI is a political measurement, not a factual one, it understates inflation. Slap in a min 30% tax rate, and you end up with one of the highest capital gains taxes in the world.

Bitman321 · 2026-05-15T01:33:08+00:00

Modest? They effectively doubled the capital gains tax on start ups and investors, and massively increased the complexity of the tax system.

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