Sea Lex Inn

If I could bake bread, I'd be a geologist. Sadly, I'm in InfoSec.

[Sea Lex Inn @SeaLexInn]

@devXritesh Weird everyone seems to be under the impression you need to create multiple endpoints?

You can handle paths dynamically too lol, both options work fine.

products/:productType/

[Sea Lex Inn @SeaLexInn]

@baazaa9 @David_McMahon75 The only logical read is they’re forcing investors to solely focus on new housing and essentially cashing in a nice tax surplus during 2027 when every investor sells before the CGT changes kick in.

But it’s a terribly shortsighted policy.

[Sea Lex Inn @SeaLexInn]

@baazaa9 @David_McMahon75 Yea fair, tbh all they needed to do was make property a slightly worse investment then make shares slightly better and the market would have fixed itself in a few years.

Young people who can’t afford a home should 100% be investing in shares. This policy just confuses me 😂

[Sea Lex Inn @SeaLexInn]

@baazaa9 @David_McMahon75 A common strategy is spreading a few small bets across a certain industry.

I often have a few stocks that will 5-10x and others that go down/sideways. Sadly I can’t pool the cost basis of my whole portfolio.

These changes totally destroy that strategy / active investing.

[Sea Lex Inn @SeaLexInn]

@baazaa9 @David_McMahon75 The indexation applies on the cost basis.

If I turn $500k into $600k with property I get taxed less than if I turn $10k into $110k in shares.

Both $100k profit but drastically different tax bill after 5 years. With the 50% discount both would be the same.

Does that make sense?

[Sea Lex Inn @SeaLexInn]

@baazaa9 @David_McMahon75 With property you purchase the asset in a single instance (cost basis locked at start) but you build a share portfolio over time (and often rebalance it).

Also no one can access low risk 20:1 leverage on the S&P500 but you can with property.

Old system is better for shares.

[Sea Lex Inn @SeaLexInn]

@John45OverIt @David_McMahon75 I can’t understand why the current system doesn’t let a couple file taxes as a single unit like the US.

Cause if someone stays at home to take care of the kids / assist their partner there is no tax benefit and the government essentially values this labour at $0.

[Sea Lex Inn @SeaLexInn]

@WhatYouThinkIT1 @DavidBassanese But it’s calculated off your initial investment, not your overall gain.

So turning $5k into $50k it sucks compared to the current rules.

But turning $450k into $500k it’s pretty similar.

Again benefits people who already have access to large amounts of capital.

[Sea Lex Inn @SeaLexInn]

@TheKnownLover It’s insane cause that is the generation that will be hit hardest by these changes, they just don’t know it yet.

My younger relatives all own crypto and shares. They’ll now be paying 30% tax on whatever gains they make…. A higher rate than millionaires today.

[Sea Lex Inn @SeaLexInn]

@BotLnp @David_McMahon75 @ProjVictoria And that’s the reason the discount existed in the first place, because a capital gain takes years to accumulate but is normally realised in a single instance.

Sadly you can’t backdate the gains to spread it across multiple tax years.

[Sea Lex Inn @SeaLexInn]

@JonnDoye @AdamMoczar Ironically you’re speaking it.

[Sea Lex Inn @SeaLexInn]

@JOKAQARMY1 My favourite thing is you want the government to collect more taxes but half your complaints are due to government policies.

E.g. “Smaller businesses were forbidden from competing”.

If the government was fully corrupt would you still be in favour of raising taxes?

[Sea Lex Inn @SeaLexInn]

@kingofcrob @Crashman_X Where are you getting those numbers?? The new changes mandate a minimum rate of 30%.

So $6.6k even with no personal income (depending on how long you had the investment).

Previous tax rates you would have paid $0-3.3k (assuming you held 1+ year).

[Sea Lex Inn @SeaLexInn]

@jackfriks Bro has a gift 😂 looks sweet!

Is this a community too?

[Sea Lex Inn @SeaLexInn]

@TrendsDotGlobal @elonmusk In Texas that might be possible, it’d be impossible in California though.

[Sea Lex Inn @SeaLexInn]

@_mumbling_me @PatMabuns Incorrect. The new budget has minimum 30% CGT. So she will pay $3k on only $10k income.

That’s why people are concerned.

[Sea Lex Inn @SeaLexInn]

@NightShift57687 @AussieVal10 Uuuh you know that 50% discount is being removed right? That’s the whole argument over the budget 😂

Do some basic research holy fuck

[Sea Lex Inn @SeaLexInn]

@JrMolonLabe @strykerman5000 @MustacheBob2 Well that’s always been the “correct” way before SpaceX came along. Every NASA flight they dump their boosters into the ocean.

Once they’re happy with it, they’ll start landing on land.

[Sea Lex Inn @SeaLexInn]

@NightShift57687 @AussieVal10 Did you even read your own poster?

“Not the highest CGT in the world” then clearly has Australia as the highest 😂

[Sea Lex Inn @SeaLexInn]

@AshPolitik I don’t understand how you can hold both views at the same time.

You’re jerking off Labor for increasing CGT but also loving the fact they didn’t apply it to super?

The only difference is they’re delaying people from accessing their investments?