Albanese pocketed millions offloading a $5M property portfolio using the 50% CGT discount. Then he bought a $4.3M Copacabana beach house to negative gear at $1,600 a week.
Once his own multi-millionaire wealth was entirely secure, he changed the tax laws for everyone else, conveniently grandfathering his own assets.
He looked Australians in the eye and lied.
He protects his own pockets while locking you out of the market.
Boot him out at the next election.
#EXCLUSIVE - Sport Minister Anika Wells has charged taxpayers up to $337 for single Comcar rides as short as 3km around Canberra, repeatedly blaming ‘unexpected delays’ for the inflated costs ➡️ https://t.co/BynX3xzzfE
Get the news first with The Daily Telegraph app: https://t.co/It3JLBNjhC
@M61Wombat@OMGTheMess Lol fairness. A person on $100k pays ~3.5x the tax as someone on $50k. A person on $200k pays close to 10x the tax. There is no fairness in the income tax system in Australia, that's why high income earners are ropeable about the incoming changes.
Senator Penny Wong has racked up $508,059 on the credit card in a single quarter. That's right folks, 3 months. Meanwhile they slug us more in taxes. Is it any wonder.
The government just cut private health insurance rebates for 2.6 million seniors to save $482M — but actuaries say it'll cost public hospitals $547M extra.
So they slugged the elderly, gutted private health, and lost money doing it.
Intergenerational equity? More like an intergenerational own goal. 🤦
#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.
@andrewSaaS@NicholasKWolf@ausstockchick Taxable income in the 10th decile in FY '20-'21 started at $180k. It's not the millionaires that Labor thinks they're depicting with this graphic.