๐จ Tax specialists have uncovered a sleeper clause in the federal budget bill designed to quietly inflate investor tax bills โ and it's a rort. The bill which passed the lower house yesterday, introduces a mandatory "loss-ordering" mechanism for the first time in Australian tax history. Instead of cherry-picking how losses offset gains, investors will now beย forcedย to burn through their oldest gains first โ stripping away the 50% CGT discount and leaving newer gains fully exposed to the punishing new cost-base indexation regime from July 1, 2027.
Say you bought shares in 2018 and again in 2024. You sell both at a gain, but you also have losses to offset. Previously, you'd apply those losses to your 2018 gains first โ which already qualify for the 50% CGT discount, meaning less of them are taxable anyway. Under the new rules, you'reย forcedย to do exactly that โ exhausting the discounted gains first and leaving your 2024 gains fully exposed to the new, harsher indexation rules.
You end up paying more. This isn't an oversight. It's a deliberate revenue grab buried in fine print
@Andrewmacca27 @bradfogarty101 @PhilGould15 love this news. Will he be on a development contract through to 2029 or is there a plan for him to be on top 30 by that stage? Looks to be be an exciting prospect
@dxfineo You make a good point, he wasnโt even at the parra player yet, so parra player had time to adjust point of impact. Very different to the one you compared to.
@dragons2194 ๐คฃ champ
Youโve sulked non stop for a day after your round 1 loss. Iโm sure it will all get easier when you realise your team is just battling for the spoon again
@AdamHux2 lol donโt know how you consider the dragons the better team. The dragons defended courageously, but the dogs should have won that game by 2-3 tries.