The CGT increase, particularly its impact on small businesses, is shocking. My brother runs a small business and dedicates himself 7 days a week. He doesn’t own a home, and with the CGT tax, he never will. Your rhetoric about helping first home buyers is political marketing.
“Renting was frustrating because our money wasn’t going anywhere. But now it is.”
Our 5% deposits helped Lachie and Brooklyn buy their first home in Clifton Springs, Victoria.
And it’s helped 260,000 more Australians move into a place of their own.
That's exactly what we want.
And by changing property investor tax breaks and building more homes, we’re helping more young Australians just like Lachie and Brooklyn.
Maybe if Pauline didn’t employee her daughter who has a zero policy background she could use that spot for someone with knowledge. Just remember, Lee Hanson is paid $180k a year because her mother wanted her in Canberra. Not because she is experienced!
Richard Marles speaking truth.
If you lie you have to go.
Morrison lied, and we got rid of him.
Albanese lies everyday, he is next.
We will get rid of him.
@AlboMP Once a loyal Labor supporter, I have been alienated by policies that penalise the very people who drive our economy. My family’s small businesses, built on seven-day work weeks and personal sacrifice, are being penalised. You’re punishing the backbone of this country.
@AlboMP By misleading the public before the election on tax reform, the government has unfairly penalized the very small businesses that drive our economy. Chasing the Greens’ radical agenda is a strategic dead-end for Labor. You must reclaim the political center.
@AlboMP You’ve abandoned the center for the fringes. Between your stance on Palestine and your tax agenda, you’ve alienated the very voters, small businesses, and strivers needed to win. You’ve lost me.
@AlboMP Your claim to champion the younger generation is a hollow facade. In reality, you stifle their ambition with punitive taxes the moment they achieve success. Your 'for the sake of our grandchildren' narrative is nothing more than a calculated smokescreen.
@jimmy140378@Ryandally08@srbaeksa His claim to champion the younger generation is a hollow facade. In reality, he stifles their ambition with punitive taxes the moment they achieve success. His 'for the sake of our grandchildren' narrative is nothing more than a calculated smokescreen.
So, I’m now going to be taxed twice as much on my already taxed money that I’m using to try and save for my first house by a government who took none of the risk?
BEFORE:
Start company
Invest money (that has been taxed)
Pay tax to hire people
Pay salaries and more tax
Pay tax on expenses to run it (GST)
Pay tax on any remaining profits
Pay tax on any dividends and income
NOW:
All of the above + if you defy all odds and actually sell your company pay 47% to the government.
Australia is the worst western country to build a business in.
Great work @AlboMP!
#BREAKING Anthony Albanese has been accused of burying a new “death tax” in the budget, dealing grieving families a fresh blow to their inheritances through what one expert calls a “thousand paper cuts”
On budget night, Jim Chalmers, broke a number of campaign promises and abolished negative gearing on established homes and removed the CGT discount, not just for investment properties, but for all assets including shares, start ups and farms.
The broken promise has led Mr Albanese and Mr Chalmers to be repeatedly grilled on the question of a death tax.
But the budget already delivered a “death tax” disguised in the form of estate planning trust, the Testamentary Discretionary Trust, will now be hit by a minimum 30 per cent tax rate.
Testamentary Discretionary Trusts are in 90 per cent of the wills drafted and the change would affect thousands of Aussies.
Meaning money that you’ve worked hard for, has already been taxed and sitting in your bank account.
Will now be hit with an additional tax of 30%
They just want it all.
Peter Stefanovic: “you’re not gonna tax the family home next?”
Prime Minister: “No.”
Peter Stefanovic: “And why would anyone believe you now?”
The PM has created a massive credibility issue for himself!
We will oppose and repeal all of Labor's bad taxes.
Labor's tax on property - by closing negative gearing - will go
Labor's tax on investment - by increasing capital gains taxes - will go.
Labor's tax on small business - by taxing trusts - will go.
Labor's tax on non electric cars will go.
Labor's tax on industry - through carbon taxes - will go.
Labor's silent inflation tax - through bracket creep - will go.
Taxes will be lower under a Liberal and Nationals Government.
@DoylerMartino I'm a Labor Party member, have volunteered every election, and donated to the party. I have paid for my membership for this year, but I will not be a member next year.
I'm a former ALP member. If you choose Andrew Hastie as your leader, I will join your party. I'm very disappointed with the government's CGT tax policy. Hastie will bring all Liberal voters who joined ON back to the Liberal party. #auspol
Labor has been forced to backflip on super taxes that would have stung small businesses and captured average workers.
Labor can’t manage money. They can’t be trusted with yours.
This segment hits hard:
“For my husband and I, two school teachers, negative gearing was one way we could get ahead.
You lied to get votes.
Shame on this government, crushing dreams and telling lies”