@TheKouk Exactly. GST needs to be higher. income tax needs to be lower. CGT needs to be 20-25 percent on assets outside property. Labour = economic wrecking ball. Will destroy livelihoods at the expense of laziness.
@AvidCommentator Sadly for Australia it paves the way for One Nation to win the next election. Labour can’t be trusted and have taken a sledge hammer to the economy. Libs are just useless.
I’ve never seen two people do so much damage to an economy on purpose. Albo/Chalmers have no qualifications in economics or finance, and have no private sector experience. They’ve chosen to live off the tax payer their entire lives, and in return this is what they’ve done. It’s disgusting.
@AvidCommentator No harm in that. However CGT at confiscatory rates equals a wrecking ball for Australian economy. The irony is that non-residents working in Australia have CGT at zero!
You will find out at next election after swinging an axe into the Aus economy. Going to be very painful period ahead for Australia. Property down 20 percent. Anything related to property going to get killed including banks. Unemployment rate > 5 percent. Good work Albo. Can never trust a Labour govt with the economy.
@markbouris The distinction: the property owner is running a loss on purpose to get a better tax outcome. Not many business owners risk capital to run a loss on purpose.