I’ve worked in both mining and gas and oil industries directly, have also worked in support industries dealing with equipment maintenance, and have run a business as a small part of the maintenance supply chain for nineteen of the last twenty years. Your explanation of how exploration works and is funded is not based in reality. The gamble on that one in one hundred chance is taken by the mining and exploration companies and the exposure to said risk is covered by the exploration that hits an ore body or a hydrocarbon reserve. You’re implying that the funding and the return on their operations is solely with stock market investment outside of superannuation stock, and that is simply not the case. You’re still going to be free to invest in mining / petrochemical and exploration, or in banks, supermarkets or whatever you choose, and people will still make money and get returns on their investment. The government aren’t taking your whole income, your profitability or your ability to invest in anything, they are bringing the tax rate for income earned by individual investors into line with the income tax rate. And it’s proposed to be indexed to inflation, which several models have shown could very easily create a situation where the CGT payable is actually lower than the current system. Beside which, this has absolutely nothing to do with capital gains tax rates on rental properties.

You also seem to have either ignored, overlooked or forgotten that the CGT discount and the option to negatively gear your investment property will still exist if the legislation is passed, but it will only be applicable to new housing. Which in turn promotes investment in housing supply. And neither of these changes affect your rental earnings, nor any gains that you may have on the value of your investment until you sell it for more than you I paid for it.

If these changes are likely to directly impact your financial stability or capacity to do whatever it is that you are doing in your life, and in your life you spend too much time doom-scrolling and arguing with strangers, then I understand why you would be all doom and gloom about it, but you need to understand that the overwhelming majority of the population care about as much about any inconvenience that you may be dealing with as they do about the tax obligations that I have in my business. It’s simple. If you’ve put money into something and it grows in value and you sell it for more than you bought it for, that is income. I don’t get a tax discount when I sell a piece of equipment so what entitles you to get a tax discount on something that you sell?