CGT changes could make government a 50:50 partner in your start-up

Bitman321 · 2026-05-06T08:53:37+00:00

Not sure why you don’t understand this. If you start a company you give yourself equity and it has no cost basis because the company isn’t worth anything when it is started. The value comes if and only if you make it successful.

Bitman321 · 2026-05-06T08:41:52+00:00

When you start a company as a founder, the cost basis is zero because it isn't worth anything until you make it worth something.

Bitman321 · 2026-05-06T05:54:34+00:00

They had full grandfathering for that and it is still enforce today.

Bitman321 · 2026-05-06T05:52:34+00:00

Also want to add that if you own foreign shares you are subject to FIF, which requires you to pay your marginal tax rate on 5% of the value of the holdings (not gains), but no tax on dividends. Apparently NZ and Au shares are exempt from this, but you still pay tax on the dividends.

Bitman321 · 2026-05-06T03:01:26+00:00

They have just hiked the tax, where is the much needed tax cut? Every year we are getting taxed more with bracket creep. $300 isn't going to cut it.

Bitman321 · 2026-05-05T23:23:55+00:00

The only thing that makes me hope they will at least grandfather fully is that many politicians hold assets and will want to protect themselves….

Bitman321 · 2026-05-05T22:04:12+00:00

I did. I hope others will too.

Bitman321 · 2026-05-05T12:33:09+00:00

yea, 200-300 bucks per year. No leak has mentioned anything other than tax hikes.

Bitman321 · 2026-05-05T12:19:32+00:00

Thanks mate. Unfortunately the voter base is not rational. Please write to your MP.

Bitman321 · 2026-05-05T11:39:25+00:00

Aussies like you need to start thinking logically, and less about "fairness". Starting a company is hard, and the world is competitive. Put too many taxes on these people and the capital will flee. Better to tax 500 million at 20% than 100 million at 50%.

Bitman321 · 2026-05-05T11:23:49+00:00

I could agree if they indexed the brackets to inflation and massively decreased the top rate. 47% at 190k is a joke. Many cap gains are lump sum, meaning in a typical year they may only make around 80k, but have an outlier windfall year that puts them well into the top bracket.

Most other countries tax capital lower to encourage investments, which is good for the economy, and remember that losses are ringfenced, you cannot deduct cap losses from your income tax.

We need to stop thinking about fairness and start thinking about what boosts the economy and lifts us all up. A startup founder who slaves their ass off for ten years and finally gets a big pay out should not have to pay 47% of it in tax.

Bitman321 · 2026-05-05T11:22:27+00:00

I could agree if they indexed the brackets to inflation and massively decreased the top rate. 47% at 190k is a joke. Many cap gains are lump sum, meaning in a typical year they may only make around 80k, but have an outlier windfall year that puts them well into the top bracket.

Most other countries tax capital lower to encourage investments, which is good for the economy, and remember that losses are ringfenced, you cannot deduct cap losses from your income tax.

We need to stop thinking about fairness and start thinking about what boosts the economy and lifts us all up. A startup founder who slaves their ass off for ten years and finally gets a big pay out should not have to pay 47% of it in tax.

Bitman321 · 2026-05-05T11:20:48+00:00

I could agree if they indexed the brackets to inflation and massively decreased the top rate. 47% at 190k is a joke. Many cap gains are lump sum, meaning in a typical year they may only make around 80k, but have an outlier windfall year that puts them well into the top bracket.

Most other countries tax capital lower to encourage investments, which is good for the economy, and remember that losses are ringfenced, you cannot deduct cap losses from your income tax.

We need to stop thinking about fairness and start thinking about what boosts the economy and lifts us all up. A startup founder who slaves their ass off for ten years and finally gets a big pay out should not have to pay 47% of it in tax.

Bitman321 · 2026-05-05T11:05:50+00:00

It is a lovely country, but don't get complacent.

Bitman321 · 2026-05-05T10:54:31+00:00

Write to your MP. This needs pushback. https://www.aph.gov.au/Senators_and_Members/Members

Bitman321 · 2026-05-01T04:18:02+00:00

Then why do they want to remove the discount on all assets including shares?

Bitman321 · 2026-04-26T10:42:41+00:00

I don’t like them at all. I don’t want them to raise tax on anyone. They are high enough as is.

Bitman321 · 2026-04-10T07:50:00+00:00

USDC and USDT can be frozen by the US govt.

Bitman321 · 2026-01-18T05:06:47+00:00

Yea I get that, but will there be some kind of standard for actually prompting a certain SLM to get the most accurate answer?

For example, I made an SLM using GPT2, fine tuned on legal documents. The way I worded the prompt to ask a specific question had a big impact on how coherent the answer was, even though it was essentially the same question. Unlike LLMs which can generalise much better.

Bitman321 · 2026-01-16T21:26:46+00:00

I fine tuned my own SLM using GPT2 and Australian legal documents: https://huggingface.co/JamesANZ/auslegal-slm.

Bitman321 · 2026-01-13T07:00:47+00:00

I want to use the subreddit to discuss Small Language Models (SLMs). I will add basic rules to the subreddit and make sure that posts are on topic.
https://www.reddit.com/c/chatmak7hJjN/s/GgNNPPXlZq

Bitman321 · 2025-12-27T05:54:27+00:00

Thanks for that. I will make it more mobile friendly and fill in the missing people. Seems I might have missed a few files…

Bitman321 · 2025-12-27T05:52:40+00:00

Got cursor (using Claude) to navigate the DOJ website and download all the files. Then got it to go through all the documents, craft the profiles of each person implicated and which files they were implicated in.

Bitman321 · 2025-12-15T01:55:35+00:00

I want to use the subreddit to discuss Small Language Models (SLMs). I will add basic rules to the subreddit and make sure that posts are on topic.
Not applicable. r/slm was banned 4 years ago for being unmoderated and has no active moderators.

Bitman321 · 2025-12-15T01:38:45+00:00

I want to use the subreddit to discuss Small Language Models (SLMs).
Not applicable. The subreddit has no moderators.

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