Dave Sharma

Senator for New South Wales. Former ambassador and diplomat.

[Dave Sharma @DaveSharma]

Another sellout of members by Tech Council of Australia.

Having — bizarrely — welcomed the tax grabs in the Budget, they are now applauding the modest tweaks announced

Whilst every serious entrepreneur & founder continues to fight the Budget changes as innovation killers, the Council continues its misguided ingratiation strategy.

What planet are these guys on? Who do they actually represent??

[Dave Sharma @DaveSharma]

3 months ago the Labor government — correctly — signed Australia on to a statement reaffirming freedom of navigation, without tolls, in the Strait of Hormuz.

The UK & France are now coordinating a multilateral naval mission to underwrite this.

What will Australia be providing? Are we even involved in the conversations?

[Dave Sharma @DaveSharma]

Labor’s 2nd Budget in 2 months is a poor patch-up job on an open wound.

Confidence in the economy has cratered.

Businesses now face more levels of complexity and uncertainty after today’s changes.

The net effect is still higher taxes on investment and to discourage aspiration.

[Dave Sharma @DaveSharma]

The non-G7 nations invited to this week’s summit:
🇰🇷 🇧🇷 🇪🇬 🇶🇦 🇺🇦 🇮🇳 🇰🇪 🇦🇪 🇸🇾

Not invited:
❌ Australia 🇦🇺

With major global issues on the agenda—including Middle East peace and reopening the Strait of Hormuz—Australia doesn't have a seat at the table.

[Dave Sharma @DaveSharma]

Three years after the appointment, one consultancy contract, and millions of dollars later, and there is still *NO STRATEGY* for the ‘First Nations Ambassador’.

And no clear answers. Watch 👀👇🏽

https://t.co/C5Xsai9rY4

[Dave Sharma @DaveSharma]

Another victim — the charities sector — from Labor’s tax increases and this awful Budget.

[Financial Review @FinancialReview]

Tax experts and philanthropy advisers have been shocked to discover that the CGT legislation rushed into parliament this week will inadvertently hit charities. https://t.co/q8wZONJWvz

[Dave Sharma @DaveSharma]

Yesterday’s national accounts figures show the Australian economy is in the doldrums.

Now Labor is about to impose higher taxes.

❗️0.3% growth in Q1 2026

➡️ the weakest growth since Q2 2024

❗️Real GDP per capita down by 0.1%

➡️ we remain in a per capita recession.

[Dave Sharma @DaveSharma]

“The country is drifting into disaster. Inflation is rampant, the social contract is a joke, and nobody in the Cabinet seems to have the courage to do anything about it. We are just sitting here waiting for the crash, watching the water rise over the deck of the Titanic.”

Seems contemporary. In fact historic. Any guesses?

[Dave Sharma @DaveSharma]

Labor claims this Budget shifts the tax burden from income-earners to asset-owners.

It doesn’t.

Wage-earners continue to fund out-of-control govt spending. Personal income tax receipts rise every single year.

Under this Budget, everyone pays more tax.

[Dave Sharma @DaveSharma]

Truth bomb 💣 dropped on Jim Chalmers’ Budget

❗️Treasury boss concedes new taxes in Budget will NOT increase housing 🏠 supply

❗️Admits main purpose is to raise revenue 💰💰

[The Australian @australian]

Jenny Wilkinson says the budget’s negative gearing and CGT reforms will not increase aggregate housing supply, declaring ‘revenue needs to be raised from somewhere’. Read the latest: https://t.co/KQ3hdPajr7

[Dave Sharma @DaveSharma]

🚨 UNCOVERED IN SENATE ESTIMATES

Meet Australia’s million-dollar public servant.

The new Fuel Security Coordinator gets a ~$1 million annual salary.

Labor has ADDED 44,000 to the public service + $8bn in annual wages to the Budget.

Here’s another $1 million.

Watch here👇🏽

[Dave Sharma @DaveSharma]

If you are as troubled by the circumstances in which Ben Roberts-Smith was arrested as I was, take a look at what I uncovered in the Senate late last night.

[Dave Sharma @DaveSharma]

The interest on 🇦🇺 government debt is now higher than Portugal, Italy, Greece and Spain

+ the entire G7.

Why? Out-of-control government spending and inflation.

🇦🇺 4.91%

🇵🇹 3.3%
🇮🇹 3.7%
🇬🇷 3.6%
🇪🇸 3.4%

🇺🇸 4.5%
🇬🇧 4.9%
🇫🇷 3.6%
🇩🇪 2.95%
🇨🇦 3.5%
🇯🇵 2.7%

(10yr T-bond yield)

[Dave Sharma @DaveSharma]

** Renters alert **

When negative gearing on property was last abolished in mid-1985

➡️ the rent 💰 on a 3br house 🏡 in Sydney increased by 43% over a 27 month period

This was why the Labor government reversed ⬅️ the decision only 2 yrs later.

[AT @ryu_tay]

Just the craziest policy you could ever see from a government

[Dave Sharma @DaveSharma]

Under Labor’s new tax:

— You can walk into a casino, come out $1000 ahead, and pay $0 tax

— but if you make $1000 on shares/ETFs, you will pay $300-470 in tax

— if you build & sell a business, the ATO now takes 30-47% of your gain

Gambling is tax-free. Investing is punished.

[The Australian @australian]

Ten female business founders have slammed Jim Chalmers, claiming the Treasurer doesn’t understand the impact of CGT reform on small business. Read more: https://t.co/BQG6vkGMW1

[Dave Sharma @DaveSharma]

@MarkDiStef Yes. Fair point.

[Dave Sharma @DaveSharma]

Just a reminder that Allegra Spender called for:

❌ Abolishing the existing CGT discount

❌ Imposing a minimum tax on ALL investment income, regardless of marginal rate.

❌ Abolishing negative gearing.

Labor’s Budget has done all this.

Now she is denying ownership.😅😅

[Dave Sharma @DaveSharma]

@MarkDiStef I don’t agree. She wants to abolish the existing 50% CGT discount — and replace it with something else. Just as Labor does.