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.
@NBA My seven year old just elbowed his 5 year old sister in the neck after seeing Wembanyama score 16 in the first quarter. I hope you guys are happy!