@DrDunnyKruger@GrahamY I like what they've done to housing. (Well, the new tax treatment, anyhow.) It does greatly favour the old over the young, but I don't know how else you you can make a change. Equalizing it all at a very high rate will be a debacle though.
Greatly advantages foreign ownership
@DrDunnyKruger@GrahamY All government machanisms are distortion. These new settings greatly disincentivise the financing of mineral exploration. Very bad news for a mining country.
@aeberman12@SantiagoAuFund@TheMichaelEvery I feel like "trust the plan" has had a funding boost! But then, I'm just listening to my imagination, same as these guys are.
@DrDunnyKruger@GrahamY Lol, It's a spectrum. To me it goes gambling>speculating>investing>savings. Speculation serves a very important economic purpose-succesful speculation (very hard to do) is what funds mineral exploration and r&d.
Australia is wealthy mostly due to successful mineral exploration.
@DrDunnyKruger@GrahamY It's been my side hustle for nearly 30 years, I might understand the details you're light on.
The incentives are so perverse that I'll be buying speckies in my smsf, but fully franked granny stocks with my savings. No speckies on the asx though...those will all wither now.
@jhattaro@matt_barrie Such in-depth analysis! Are you from Treasury?
Gold mining directly supports 22,000 jobs, and 60,000 indirectly. Many billions are paid in taxes, royalties and income taxes.
None of that happens if explorers don't find the stuff in the first place.
@DrDunnyKruger@GrahamY That's why it is bad for Oz, increased foreign ownership - but not the main reason why it's bad for individuals. The different treatment of losses - nominal vs real prices used - means the effective rate on taxing winners goes even higher. Speculations become not worth it.