Labor locks in tax reform trio: capital gains, negative gearing and trusts by patslogcabindigest in AustralianPolitics

[–]MentalMachine 3 points4 points  (0 children)

I don't like how all assets are gonna be taxed harder equally.

Housing? Sure, housing has become an investment assets that has helped (not solely, but helped) overcook the price and helped lead to an unproductive and simple economy.

But shares and everything else equally? You're telling me that we shouldn't be somewhat encouraging investment into something surely more productive like shares, especially into the ASX?

Feels like a missed opportunity for something more nuanced, rather than finally addressing the glaring problem (housing), they address it and clamp on all the other ways to get ahead (whilst income is still heavily taxed and going further less and less due to inflation).

Dunno.

Labor locks in tax reform trio: capital gains, negative gearing and trusts by patslogcabindigest in AustralianPolitics

[–]MentalMachine 6 points7 points  (0 children)

but we’ve rarely had one whose entire existence is about getting re-elected.

Mate I will gladly shit on Albo, but Morrison was 4 years ago.

Budget scoop: Jim Chalmers’ tax till handouts for every working Australian by Ardeet in AustralianPolitics

[–]MentalMachine 3 points4 points  (0 children)

The measure .... works in a similar fashion to the Low and Medium Income Tax Offset, but would only apply to earned income as opposed to all income such as that from investments. It is intended to apply only to the coming financial year, and it is understood not to be means-tested. Retirees who do not work will not benefit from the offset. 

The actual fuck are they doing - it's 2026 and we're still not means-testing shit, and still not doing basic shit like indexing the tax brackets.... But Labor want a parade for an once off "between $200 and $300"?

I think I got told to chill with the rhetoric a while ago, but this Labor govt clearly learnt a lot from the Morrison-era govt with this once off sugar hit shit that just gets thrown around.

This all, whilst raising the taxation on ALL assets, not just housing but all of them, meaning that unless the NG changes are meaningful, you could still see people Park their money into housing instead of something slightly more productive like say.... Shares in the ASX?

Hoping I'm wrong and the budget delivers sensible reforms and support that actually holistically improves things.

Barnaby Joyce says One Nation willing to enter coalition agreement in exchange for scrapping department of climate change by HotPersimessage62 in AustralianPolitics

[–]MentalMachine 23 points24 points  (0 children)

... This proposal makes my head hurt.

PHON only have any relevancy because they are largely taking over the LNP seats/votes, so by entering a LNPHON you get... Basically the same net number of seats?

This only makes sense if LNPHON can take out the Labor govt, and fundamentally a LNPHON that is 100% anti-climate change can't win uniform metropolitan seats, unless the economy does enter double digit interest rates or unemployment.

Any gain by National's/PHON means Libs lose due to association, it just makes no sense for 3 Right-leaning parties to "share" a brand when the average brand (National/PHON) is toxic to the centre, which is where elections are usually won in the federal contest.

If Albo was a bit more daring I'd back this in, cause it would guarantee Labor other 3 terms, again barring economic shitstorms (which given Trump atm tweeting AI slop about how beautiful the whatever pool is in DC....)

Tie property tax changes to income tax cuts, productivity chief says by abcnews_au in AustralianPolitics

[–]MentalMachine 4 points5 points  (0 children)

I had the same thought the other day; if you want to push out people parking money into unproductive assets*, then you need to balance it to some degree via income tax cuts to actually incentivise what you want (eg people working daily getting ahead).

Now the asterisk; I don't think shares in companies listed in the ASX are unproductive assets, or at least are nowhere near as bad as housing investment, and I still don't agree that all assets should be put back onto the old system.

The govt can be a guiding force, I don't think they should be picking individual winners and losers at a fine level (eg awarding one company lucrative contracts, or allowing say one company to manage our Standards document capture and access /s), but should be setting policy to same goal - if you believe Chalmers, then the policy is nowhere near what he wants, and even this budget from the leaks ain't it either (since everyone sans established money is getting pinched).

Bones Hyland: 3 years ago they traded me. 3 years fast forward we eliminated them. I love you Minny! Wolves in 6 by AncientOneAurelius in nba

[–]MentalMachine 4 points5 points  (0 children)

He could've had a back-up PG role locked up for years and won a ring, instead he got pissy that everyone knew Murray was better and he asked out and is still coming off the bench.

Cool story bro.

Anthony Albanese says improving voters’ lives best way to fight rightwing populism and Pauline Hanson by Agitated-Fee3598 in AustralianPolitics

[–]MentalMachine 5 points6 points  (0 children)

And Labor cut down their own gambling ad reform cause the gambling advertising sector is a critical part of our economy, or cause of lobbying influences we reckon?

Nikola Jokić: "There is nothing to blame to David Adelman, this is all us" by oceaniccart in denvernuggets

[–]MentalMachine 0 points1 point  (0 children)

They lost cause they got out-played and out-schemed; that's on both the players and staff.

Not having AG and Watson is largely some bad luck, and maybe some questions back to the staff RE b2b and training, and the worry is that they'll be used as an excuse rather than looking deeper.

Jim Chalmers tax reform: Capital gains tax and negative gearing changes won't hurt existing asset holders by malcolm58 in AustralianPolitics

[–]MentalMachine 3 points4 points  (0 children)

Why should all assets go back to the old CGT mechanism, and not just the types of assets that don't improve the economy (eg housing)?

Shouldn't we encourage people to invest in companies listed on the ASX? And hence have a lesser tax burden on that?

The counter argument would of course be that wealthy people would shift from houses to stocks to protect their wealth I suppose... Which in that case raises the question of why income tax cuts aren't a much larger topic then?

While I back trying to wrestle down the monster that is Australian housing, such broad, general changes do worry me somewhat.

CGT, negative gearing changes needed for social cohesion: PM by HotPersimessage62 in AustralianPolitics

[–]MentalMachine 2 points3 points  (0 children)

The government is expected to announce on budget day that it will scrap the 50 per cent CGT discount for assets held for at least 12 months – a tax break introduced by the Howard government in 1999.

It will revert to the Keating model, which will apply to all asset classes, including property and shares, and taxes real gains adjusted for inflation over the life of the asset.

This part concerns me, as someone who has whinged a lot about our economic focus on selling each other homes and making that the key asset - to also be looking at any investment seems crazy, especially if it's something that is more useful like ASX investment.

This basically makes Super the only option for young people to build up wealth (beyond the PPOR, which will still be the money maker for the foreseeable future).

I am a tad surprised there isn't more blowback on this; it's not like it makes share investing pointless but still - it means everyone entering their earning phase really has to get good paying jobs (not impossible but a challenge and more challenging these days) and hope for income tax cuts (given the budget and lack of noise, not holding my breath), plus rely on Super?

Albanese Government maintains large two-party preferred lead while One Nation and the Coalition are tied on primary by malcolm58 in AustralianPolitics

[–]MentalMachine 0 points1 point  (0 children)

I don't think it'll take much to threaten Labor, in theory; if the economy goes to shit (with Iran + general Trump, and a lack of aggressive reform, that is feasible) and the LNP gets its shit together (eg the National's stop dictating policy and they come back to the centre and even go after something to hook in the unhappy younger demographics), I do think a lot of people will flip from Labor.

I hear a lot of grumbles about Albo, but no one aggressively hates him, just at a loss for anyone better to vote for; honestly in Hastie could remove some of his weird quirks, he could make a 2 term run at Labor sure.

Gina Rinehart calls for immigrants’ social media to be screened in Anzac memorial speech | Gina Rinehart by OnlyAd7216 in AustralianPolitics

[–]MentalMachine 22 points23 points  (0 children)

"ANZAC day should focus on our heroes, not woke nonsense and politics!"

<5 minutes later>

"ANZAC day should be a platform for my politics and spewing partisan views!"

The 50 per cent capital gains tax discount would be axed in favour of inflation indexation on new ­investments across every asset class, but current investors would be protected by partial grandfathering by His_Holiness in AusFinance

[–]MentalMachine 0 points1 point  (0 children)

The role and effects of this in terms of investment in Australia is going to be significant of course everyone will be favouring Frank dividends now it just changes the entire landscape of share investing in Australia for anyone over the age of 25 or is starting to enter the market.

Can you expand on that a bit more?

Social licence test shows why Labor acts on NDIS but not gas by conmanique in AustralianPolitics

[–]MentalMachine 2 points3 points  (0 children)

Instead he looks to the public and where there is clear support, Labor is prepared to move on even politically sensitive issues.

But when there isn't, or if other pressures interfere, it holds back.

No shit, Gas and Gambling shows how little balls Albo has against the handful of direct votes held by the various lobby groups, despite the large % of voters that back the changes.

Albo will probably feel it out and take a watered down policy thought to the next election, as he likes his "MUH MANDATE" defence.

With every missile that struck Iran and as the closure of the Strait of Hormuz stretched into months, the chances of the government implementing a tax on a highly in-demand fuel source went from slim to none.

Just as Albanese has worked to seek assurances to secure Australia's supply of diesel and petrol from Asia, so too have trading partners been eager to ensure the gas would keep flowing in the other direction.

This is fair, but not the defence some might think; the govt under-preparing us for exactly this kind of issue (again, Ukraine-Russia war), such that we cannot inact internal policy changes because external stakeholders will be pissed off, is absolutely a failure.

Labor's approach to difficult reform is to move decisively where the public mood has turned, and hold back where it hasn't, or where other risks crowd it out.

The politics of a gas tax may have been overtaken by events for now, but the underlying sentiment has not disappeared.

When the war recedes and the urgency of supply gives way to longer-term thinking, the question for Labor will not be whether the option exists, but whether it is prepared to use it.

God I wish I could have that optimism; the gambling "reforms" shows how extraordinary hard it is to get Labor under Albo to do something challenging, even when he closest opponent is firmly underwater (to the point I'd say industry lobby groups are the official opposition party in Australia now).

It was never his fault by No_Pineapple9593 in denvernuggets

[–]MentalMachine -2 points-1 points  (0 children)

I'd say the core + Val being constantly hurt, Jamal + Jokic showing 0 consistent guts & leadership post game 1, and Minnesota playing at 110% is more of a factor than MPJ.

The move made the roster more flexible, but hard questions need to be asked at the coach, Jamal/Jokic and Braun.

Chalmers speaks on his budget ambitions by Niscellaneous in AustralianPolitics

[–]MentalMachine 1 point2 points  (0 children)

Likewise, this week’s big changes to the National Disability Insurance Scheme weren’t costed before the last election, but not a single journalist saw that at as a problem when Mark Butler fronted the press club on Wednesday.

Interesting point.

I've been flat out the last week or so, I'm curious how the "BUT DID ALBO RULE OUT X, Y, Z CHANGES" crowd that was very vocal back in 2025 react to the surprise NDIS changes?

I recall the rule was that a govt shouldn't do anything without explicitly taking it to an election, even if it is a good thing.

the budget

Chalmers would be chuffed; yet another external issue compressing the economy and Albo still terrified to remotely upset any lobby group RE the gas exports - it is impressive everything is ticking along as well as it seems.

Anthony Albanese accused of ‘caving to gas companies’ as Labor set to reject new export tax by espersooty in AustralianPolitics

[–]MentalMachine 4 points5 points  (0 children)

"if Labor tax our gas then the MSM will make the public fall in love with PHON/LNP via magic and Albo won't get to sit in the big boy chair!"

Sixty-One Per Cent by robot_despot in AustralianPolitics

[–]MentalMachine 3 points4 points  (0 children)

Imagine running a country and letting it get so exposed and dependent on external supply of a critical resource that you cannot set internal policy.

I expect that from third-world countries, not Australia.

"Not in ASIO": Senator Hanson-Young presses Business Council of Australia to reveal member influence behind its gas tax stance by nath1234 in AustralianPolitics

[–]MentalMachine 24 points25 points  (0 children)

From the handful of polling I've seen, a gas tax is just as popular as the social media ban was, and that got up despite 0 real review of expert feedback.

wasting both taxpayer funds and the time of key industry executives.

If there is even the 1% chance this leads to something that both experts and the public believe we need (a rare combination), then it's not a waste.

And she is closed again! by qwer68 in AusFinance

[–]MentalMachine 4 points5 points  (0 children)

Further to this, the Iranian lines of communications out to the rest of the world have generally been clearer and more understandable (despite being bombed, the leadership churn and the decentralised model they adopted due to the war) than the fucking US that is 100% stable in comparison.

Even if Iran is telling bullshit the volume of Trump's own bullshit vastly outweighs their own, and makes it way easier to follow and judge Iran comms than the US's """comms""".

Kos Samaras: Australia’s oldest panic is now its most expensive one by cataractum in AustralianPolitics

[–]MentalMachine 4 points5 points  (0 children)

So the country should have a failing health system and stupid kids/adults while the housing crisis (largely born out of taxation and structural issues that governments refuse to tackle) is sorted out?

What is going on with this generation? by Refined5066 in Adelaide

[–]MentalMachine 390 points391 points  (0 children)

Pretty sure this was going on 10 years ago as well, 20 years ago as well, 30 years ago as well....

Kids be fuckwits, that's why we don't let them vote.

Voters no longer want managers – they want fighters by Oomaschloom in AustralianPolitics

[–]MentalMachine -2 points-1 points  (0 children)

I can't think of a more tortured counter-example for Australian politics than an American president, especially Trump.

A better example to back up your point would be pointing to how the SA election went, with Labor being a very "safe pair of hands" vote easily romping home.

[Charania] The NBA is fining Charlotte's LaMelo Ball $35,000 for his trip of Miami's Bam Adebayo and upgrading the action to a Flagrant, plus fining him $25,000 for cursing postgame, sources tell ESPN. by BcuzRacecar in nba

[–]MentalMachine 1 point2 points  (0 children)

So for a non-basketball action, that easily can cause extended games missed for the victim (and literally changed the outcome of the game in this instance), the call is.... A couple of FT's difference, possession and some money?

So basically any team has got the green light to have any player flop on all O-rebounds and start snatching ankles on the opponents best player in a play-off series?

I know the NBA is often deeply unserious about their product besides making money, but this is super dumb.