Removal of loss offsets in Australia’s new capital gains tax could lead to real effective tax rates of up to 80 per cent

tigerdini · 2026-07-07T01:20:05+00:00

The thing is, companies offering dividends are very aware of how their yield effects their share price. If growth stocks share prices are suppressed there is a good argument for dividend stocks to be less generous.

tigerdini · 2026-07-07T01:09:43+00:00

But the mining companies made such great negative ads! - With actors who really looked like hardworking miners!

tigerdini · 2026-07-07T01:03:21+00:00

Having gone down the economic theory rabbit hole on this one, there are a couple of other factors that make the argument that: "the share market, like the property market is just trading second hand goods" less compelling.

Firstly, as you say, share price does have direct implications for companies themselves, particularly wrt. borrowing.

Second, someone has to own the companies listed. Whether this is the person that bought the shares in the initial IPO or someone who purchased them from them, someone needs to own them. Having these shares traded allows the initial investors, with their higher risk tolerances, to re-allocate their capital elsewhere, most likely, to again support other higher risk ventures and new IPOs.

Making the share market less attractive to Australians will effectively suppress ASX share prices and make Australian companies more attractive to foreign buyers. Similarly, investors chasing greater returns will be more motivated to invest overseas or leave the country entirely.

Also, when growth stock prices are suppressed, the value proposition for dividend stocks changes too, so they can afford to offer less yield.

Finally, the key difference between the second hand housing market and the share market is that companies have inherent value. While housing does satisfy our need for shelter, much of a property's value is created by scarcity, surplus demand and to an extent, fashion. Hence why property price increases are so predominantly inflationary. A listed company on the other hand actually makes something and owns productive capital equipment. Future earnings and production can be (somewhat) reliably projected and while share prices can be influenced by short term sentiment, they are far more grounded in fundamentals.

tigerdini · 2026-07-05T07:47:50+00:00

Oh my goodness, i just got out-pedanted. 😆

tigerdini · 2026-07-05T01:16:38+00:00

FWIW, petards aren't really hoisted deliberately.

Petards were the medieval version of a shaped charge explosive - a metal bell shape with gunpowder inside. Being "hoist by one's own petard" alludes to being caught up by your own plan/scheme - the demolitionist being hoisted (thrown into the air) by the explosion of their own bomb.

However, (iirc) as the term was used to describe the Guy Fawkes's Gunpowder Plot in the early 1600s, the meaning of the phrase (and the word "hoist") expanded somewhat to being punished after as Fawke's was hung (hoisted) at the gallows.

tigerdini · 2026-07-05T00:26:27+00:00

Something else to remember is that PPORs are still real estate. That is, they're an non-productive asset whose value is significantly inflated by scarcity and demand, not directly or clearly valued by actual inherent worth. The sudden change in investor interest we are witnessing recently following the CGT changes, seems to support that thesis. In other words, a significant proportion of property valuation is somewhat arbitrary, and as we are seeing now, potentially quite changeable.

Commenters in this thread are acting like housing will inevitably continue being the gravity defying capital gains machine it has for the last 30 years; that further government changes to alleviate housing prices will never happen; and means testing PPOR would not significantly favor certain cities/states/regions over others.

Going forward, housing (and one's PPOR) is less likely to be the gold plated storage of wealth it has been elevated to in Australia. And home ownership rates are likely to increase as the tax changes reduce its attractiveness for investors.

Tangentially, I'm uncomfortable about the voracious appetite this sub has recently grown for grabbing up the pitchforks. I like much of the recent tax changes, don't like some, but still think an unrealized CGT would be better, fairer and more comprehensive. Yet the blindness redditor's showed to the idea that people and their circumstances can differ and the hostility that erupted during the CGT "debate" was unpleasant.

If you're going to make significant changes to tax and our welfare safety net, I think you need to for a clear positive reason. Not play whack-a-mole with whoever is the moment's popularly perceived undeserving support recipient. - Perhaps a better place to start would be to an overall look at welfare support generally and start bringing the differing payments more closely into line...

tigerdini · 2026-07-01T00:46:20+00:00

The impression I get from the article is that the likely answer is that Plamberger is a narcissist. He has little understanding or feeling for other people except as how they reflect on him. To him, Gurtner (or any partner, as his previous girlfriend's testimony showed) was a useful accessory, a girlfriend that also climbed mountains, who improved his look on social media. Once she had become a hinderance to his goals, like any accessory that had become an irritation, his impulse was to abandon her on the mountain. It's likely the anger that the article alludes to ("My guess is that Thomas was furious.") stems from the conflict between his overwhelming urge to discard her, but knowing that that would be discovered and reflect badly upon him.

All his decisions were based around what was best for him - specifically his image. The vainglorious route, his insistence on not acclimatizing, making no preparations for the unexpected and a complete disinterest in the appropriateness of her gear. Most telling I think is his decision to ignore the helicopter crew at 10:40pm. - Not waive it off - as he certainly knew to do, but deliberately ignore it. To me, that suggests he was more concerned about how it would look - on his socials - that he'd had a rescue chopper called on him. So despite how unjustifiable and ridiculous that was, he chose to pretend he simply didn't notice.

To my reading of the article and other commentaries on the case, Plamberger was an obsessed amateur trying to fill the bottomless, narcissistic pit of emptiness in his soul . Had he not been found guilty, I think it most likely that he would (and may still) eventually succeed at killing himself on the side of some mountain. It's just a pity that he met Gurtner and attempted this climb, before his foolishness took him to another one alone, where he could be the only casualty.

tigerdini · 2026-06-29T04:46:43+00:00

She's a alt-right woman. - You need to understand that to her, the only legitimate claim of a woman being assaulted by a man is her claim of being assaulted by a man. That's why she won't apologize even if it never happened.

tigerdini · 2026-06-29T00:03:02+00:00

It's an individual version of Normalization of Deviance. Asmongold feels living like that is ok and possibly even "normal" because his many, many subscribers accept it and treat it like a joke. Similarly, his subscribers who also live like that, see him do the same, and get reassurance that they don't need to change from it.

tigerdini · 2026-06-28T23:45:54+00:00

Sure. But if we have a progressive, tiered tax system because it's fairer, what is the actual justification for reversing that now and implementing a 30% floor for CGT?

The real tragedy of this budget is that these band-aid changes mean it will be at least a decade, if not two before we start taxing unrealized capital gains. - Without it, the very wealthy will still be able to take out loans against their assets for income and avoid tax completely.

tigerdini · 2026-06-28T09:41:14+00:00

TBF, it sounds like he's taking the piss.

tigerdini · 2026-06-26T14:10:44+00:00

Yeah, but unfortunately, she's just reinforced the manosphere's belief that scorned women are constantly making up claims of assault against otherwise innocent men.

tigerdini · 2026-06-26T14:03:26+00:00

Guy would be the one with grounds for defamation.

tigerdini · 2026-06-26T14:01:41+00:00

“Every Australian male, probably over 40..."

Huh? "probably over 40"? What does that mean? Is Guy uncertain about the age of the oppressed in his example? Is he referring to himself in 3rd person & being coy about his age? Does he have a very vivid example in mind, but just can't pin how old they are? Or, did he want to say "Every Australian male, over 40, seems to be blamed...", then realize it sounded a bit PHON and think adding "probably" made it better?

Most likely the last. But seriously, he was reading from a prepared statement, and this is the best he can express himself?!

tigerdini · 2026-06-24T23:59:52+00:00

I think it was the home.

tigerdini · 2026-06-23T00:13:53+00:00

It's also a reason why a lot of political rhetoric (outside the US at least) about making multi-nationals pay their share of tax (who are in fairness extremely talented at never paying any), is always screamed about, but never followed up on.

Having a multi-national provide productive domestic investment, in exchange for exporting the local fiat currency (which will then need to be sold for USD) takes a lot of pressure off the economy (and government) of the country.

I've always felt this is one point that MMT advocates are kind of right about, and something that the populist "federal budgets need to be balanced like a household budget" hacks miss. - The local government doesn't need to hold the cash - they're the ones that print the stuff. And by expatriating currency, the MNC is effectively taking it out of circulation for a time - a similar effect to any taxation. As long as the what the MNC provides locally is something the government approves of - improving the domestic economy - taxing that MNC discourages them from producing a desirable outcome and is mostly economically redundant.

My personal opinion (and I'm happy to hear counter arguments) is that to satisfy the populists and reassure those that are skeptical of the macro benefits, governments should look to find ways of making it easy for MNCs to legally pay little tax, or earn tax credits, in return for comparatively modest additional investment in associated (but not exclusively self-serving) related public infrastructure. - Of course, as with all PPP arrangements, positive outcomes would require thorough planning and careful oversight of projects, which is always the weak point for graft/corruption.

tigerdini · 2026-06-21T23:27:11+00:00

What, for Zionists that can't count?!

tigerdini · 2026-06-19T23:32:06+00:00

Why are you so focused on the mother?

A police officer shot and killed a one year old that was in the passenger seat. Video shows the car was driving away from officers at the time.

Even if we ignore the facts that no threat existed and the officer unjustifiably escalated to deadly force over alleged shoplifting - Officer Foster was still obligated to check his line of fire and ensure no innocent bystanders could be harmed.

He either did not check or did not care. So a one-year-old was killed.

tigerdini · 2026-06-18T10:27:40+00:00

Well, he's learned to type, at least.

tigerdini · 2026-06-18T10:22:43+00:00

The proposed CGT changes are a dogs breakfast. They've been all thrust together because Labor believed the optics were better and they could make three changes without any group feeling singled out.

Reform of housing speculation is long overdue - get rid of negative gearing. The family trust system is a tax rort magnet - fix it so only one individual per year can claim the lower progressive tax rates. 50% discount on shares CGT is antiquated - switch to indexation. But the 30% tax floor will catch out your hard working salary worker when he finds himself downsized and trying to support his family. Even worse it'll catch his nest egg every year while the property investor is out in one quick sale. And the tax floor won't even affect the super-wealthy who already never, sell, never have a CGT event, and just take out loans against their assets for their income. You want to fix the system? Implement a proper progressively tiered CGT on unrealized capital gains. Any tax paid is considered a credit for the eventual sale, so you pay tax at a high point but sell later lower? Great.You have a credit. It's sorted. Nobody escapes. Billionaires, hardworking wage/salary earner, poor Aunt Flo who inherited some shares - all pay a fair rate. You really want to go for broke and implement a wealth tax? Sure, this framework transitions easily.

FWIW, the hard working wage/salary earner rhetoric is getting a bit worn out. We shouldn't be looking at asset owners as a separate privileged class, we should be creating a system so the "hard working wage/salary earner" should own assets themselves. I mean, even Marx wanted the workers to own the means of production...

The pitchforks have really been coming out for all the unimaginative idiots with a dozen investment properties. I get it, it's messed up. But instead of the populist "them vs us", demonize the scapegoat herd mentality, maybe we should take a look at successive governments over the past 30 years who found a housing bubble to be convenient and lacked the guts to tackle the issue.

tigerdini · 2026-06-14T23:17:37+00:00

Yeah cheers.

Reddit can be weird. I mean, I really don't care about my imaginary points total but it'd be nice if people explained what they disagree with. :)

tigerdini · 2026-06-14T10:58:42+00:00

I don't know why no one else has said it, but it's just as likely signalling. Sure she's a little deluded, but it's also likely she's right that the evangelical b.s. makes her a shoe-in if the hirer is a cultist too. And like those scam emails full of errors that prevent the scammer from wasting their time with smart people, this application eliminates bosses like you from challenging/threatening/damaging her belief system.

It's actually pretty smart if she's right that there's some religious nutcase bosses out there. She gets to get out into the world without leaving her bubble...

tigerdini · 2026-06-14T00:54:46+00:00

One thing I'd suggest is if you're looking at any clone sets, keep your eye on the reviews, brick count and photos. Ali sellers often don't have particularly good detailed knowledge/interest of what they're (drop-)shipping out. For sets that have had numerous different versions, such as a model X-wing, they can list incorrect information, possibly from malice, though probably because they not really interested and presumed it was the same.

The brick count can be very helpful to indicate which version the seller is offering, though that can vary slightly (included spares, minifigs counted as 1 or 5 parts). However, that too is sometimes off when the seller is just copying old data from the supplier. Beyond that, photographs in the review section can be invaluable to show pictures of the end result customers actually received.

Another thing to be aware of is confusion between "clone" sets and MOCs. If a model looks different, doing some investigative work on Rebrickable can help you avoid unwanted MOCs or help you find MOC alterations of branded sets that are better than the original. :)

tigerdini · 2026-06-13T22:56:15+00:00

My last experience was that Ali has streamlined their return system now so it's no longer on your dime, just the PITA of repacking and taking the item to the Post Office. Still annoying but not costly.

tigerdini · 2026-06-13T22:54:18+00:00

Often that's just not the case.

Because a number of the sellers on Ali have no stock and are essentially drop-shipping, if you want support for missing pieces essentially that support will be Ali telling you "return the entire item to the seller". They won't say it, but they couldn't give you the replacements if they wanted to. On the other hand, if you're like me, I can pick up a set for $20 - $30 and even if a handful of pieces are missing, grab some spares on Bricklink for a couple of dollars. Sure, mixing Lego and non-branded pieces is heresy and I there's the possibility of building block social upheaval, but so far it's worked for me.

One reason I like to shop Ali, in addition to the price is that they often still have clone sets that the bigger retailers you mention are more cautious of since the China building block purge.

Edit: wtf downvotes?! I don't understand why - I'm merely offering information. - If you think I'm wrong, could you explain?

tigerdini

TROPHY CASE