If the problem was investors hoarding existing property and locking young people out of housing, you could have applied the CGT changes to residential property only.
Instead
You went after everyone who builds something.
The civil contractor.
The dairy farmer.
The tech founder.
The panel beater who spent thirty years building a shop worth selling.
All hit the same.
That's not innovation policy.
That's a revenue grab dressed up in a 'fairness' costume.
And that's not even touching on the reality of the CGT laws on property...
Liebor just designed a tax system where the Australian who builds a property portfolio to fund his retirement pays 47% Capital Gains Tax on the exit.
The foreign super fund that buys the same property through a Managed Investment Trust pays a 15% flat rate.
Same property.
Same gain.
Same country.
The foreigner pays roughly one-third of what the Australian pays.
Then you ๐คกstand up at a press conference and tells us this is about "fairness."
It's not fairness.
It's the largest wealth transfer from Australian families to foreign institutional capital in modern Australian tax history.
And it's being sold as a โhousing policyโ
ALBANESE IS BUNKERING DOWN ON PLOWING AHEAD WITH HIS CG TAX HEIST FOLLOWING HIS SHAM SENATE INQUIRY!!
Albanese says the government will not budge on its timeframe for passing controversial changes to Australiaโs tax system, despite calls from sectors across the economy that the consultation process was inadequate.
โWe are very determined to give people the reform that is needed. We know that for a long period of time, housing was ignored by the federal government,โ @Albomp told reporters in Melbourne.
โWhat weโve done is have a comprehensive plan. We know that more was needed, thats why our reform was aimed at boosting supply as well as giving young people a fair crack at getting their first home.โ
BUT โฆ..
Every indication including his govt โs own budget clearly states their reforms will NOT boost supply.
๐๐ซ๐๐๐ฌ๐ฎ๐ซ๐ฒ ๐ฆ๐จ๐๐๐ฅ๐ฅ๐ข๐ง๐ ๐ข๐ง ๐ญ๐ก๐ ๐ ๐๐๐๐ซ๐๐ฅ ๐๐ฎ๐๐ ๐๐ญ ๐ข๐ง๐๐ข๐๐๐ญ๐๐ ๐ญ๐ก๐๐ญ ๐๐ก๐๐ง๐ ๐๐ฌ ๐ญ๐จ ๐๐๐ ๐๐ง๐ ๐ง๐๐ ๐๐ญ๐ข๐ฏ๐ ๐ ๐๐๐ซ๐ข๐ง๐ ๐ฐ๐ข๐ฅ๐ฅ ๐ซ๐๐ฌ๐ฎ๐ฅ๐ญ ๐ข๐ง ๐๐,๐๐๐ ๐ ๐๐๐๐ ๐ก๐จ๐ฆ๐๐ฌ ๐๐๐ข๐ง๐ ๐๐ฎ๐ข๐ฅ๐ญ ๐จ๐ฏ๐๐ซ ๐ญ๐ก๐ ๐ง๐๐ฑ๐ญ ๐๐๐๐๐๐ ๐๐ฎ๐ ๐ญ๐จ ๐ ๐๐ข๐ฉ ๐ข๐ง ๐ฉ๐ซ๐ข๐ฏ๐๐ญ๐ ๐ข๐ง๐ฏ๐๐ฌ๐ญ๐จ๐ซ ๐๐๐ฆ๐๐ง๐.
Laborโs housing tsar Susan Lloyd-Hurwitz has told parliament that Jim Chalmersโs tax changes are designed more to redistribute wealth than to increase supply, as supporters of the Albanese governmentโs budget question the proposed minimum 30 per cent rate on capital gains.
Ms Lloyd-Hurwitzโs comments, which double down on Treasury secretary Jenny Wilkinsons view last month that the tax changes were more about redistribution than supply, came as the Prime Minister talked up the proposals as โboosting housing supply and getting the tax settings right in a way the experts have called for decadesโ.
When it comes to himself, heโs never written truer words. Ironically, those were the very words @AlboMP used in an op-ed about Scott Morrison.
Albanese is a classic case of projection. The criticisms he once levelled at others perfectly describe his own conduct, and his actions and words are coming back to haunt him.
#auspol
Kogan CEO Ruslan Kogan has issued a dire warning for Australia over Laborโs planned tax changes, which he said could result in an โexodus of talentโ seeking better opportunities abroad.
https://t.co/ZHBQKJFOCr
Iโm passionate about self-starters and small business, and thereโs nothing more offensive than Labor Minister, @AmandaRishworth, deceiving the public and trying to silence small businesses on the taxes Australians didnโt vote for.
This is a heat map illustrating the donations from people who want to FIRE THE LIAR.
It proves youโre not alone in your support of ousting Australias worst Prime Minister who tells countless lies.
One Nation are turning Alboโs lies into a full blown campaign to Fire the Liar.
Weโre now working on tv commercials for State of Origin and giant banners that will fly beneath helicopters across our major cities because of your donations.
This is real money, real data, and a real campaign to get rid of Labor.
Albo, you underestimated the anger of the Australian people and as a result, weโre coming after you.
https://t.co/nylzXyOqmP
Labor wants to blame John Howard for Australia's housing crisis.
But Howard isn't buying it. His message to Labor? Start building more houses.
The former Prime Minister sits down with Karl tonight on the show, 5pm.
Weโve tracked down a radio host behind a viral spray.
Maje Saba has unleashed on the Federal Government for taxing everything.
He says he feels like heโs on the โverge of bankruptcyโ.
Listen to his full conversation with Ben HERE.
๐งhttps://t.co/H01Q1gOQyk๐ง