While accounts frame CGT changes to shares as "yay taxing the rich," 69% of micro-investing app users are Gen Z & Millennials.
These aren't elites they’re everyday people using micro-investing apps like Raiz, CommSec Pocket, and Pearler to buy ETFs to build wealth for things like house deposits because they’ve been priced out of everything else.
An estimated 2.2M to 3M Australians now use these "spare change" apps as their primary way to build wealth. According to Finder, 63% of Gen Z and 49% of Millennials who are currently investing have identified a home deposit as the primary financial goal.
Oh well… a punch in the face to the one easily accessible way young people had available to build wealth.
But sure, billionaires something something... 🫠🫠
DEANDRE AYTON ELIMINATION GAME STATS
'21 Finals - 12 points, 6 rebounds
'22 WCS - 5 points, 4 rebounds
'23 WCS - DNP, quit on team 2 hours before tip off
'26 WCS - 6 points, 3 rebounds
HANG IT UP @DeandreAyton