I am sick of the government and tax academics gaslighting us on this 30% minimum CGT. Their argument is that people are engaging in some kind of "tax avoidance" by accumulating assets through their lives, deferring those gains and selling near retirement when their marginal tax rate is much lower.
This is a spectacularly stupid argument. People sell assets later in life not because they are engaging in some kind of elaborate tax dodge. Most of the time it's because that's when they need the money. This is basically just how long-term savings works.
Similarly, if someone starts a small business and then sells it later in life to fund their living expenses, they are not engaging in tax avoidance. They were just deferring consumption. This stuff should be obvious.
Calling it what it is. The @ausgov rumoured CGT changes are a declaration of war on small business and startups.
Entrepreneurs building real companies, creating jobs, taking risks are now facing double plus the tax on success.
Shares, businesses, farms will all get hammered.
Australia doesn’t have a revenue problem. We have a productivity and aspiration problem.
This pure tax grab kills the next generation of Australian
Stop it.@JEChalmers@AlboMP #AussieTaxGrab
@GeoMetric_9 Dude I’m so glad I’m a member.. Im so looking forward to the coming bull market whenever if it is. Those HPHs are so invaluable, especially on the 1week, when looking back on when they fired in the past on my alts. Great tool!
BTC.D has finally hit 66%.
The top level in which this 8 year triangle represents.
With peak War FUD and everyone totally throwing in the towel for altcoins.
There are no coincidences.
We could get some spikes higher an wicks here as we have had before.
But the next major move is now much much lower.
Bitcoins hold over the market is in the final stages and I'm expecting a decent rejection from here soon.