INSANE 🚨 Australia’s new CGT rules = double taxation madness for top earners (47% bracket):
1. Earn $1,000 income • Taxed at 47% = $470 income tax • Left with $530 to invest
2. $530 investment doubles to $1,060 • Capital gain = $530
3. Under new rules (replaces 50% discount — real gains taxed at full marginal rate up to 47%) • CGT at 47% on $530 gain = $249 tax
4. Total tax paid: $470 + $249 = $719
5. Final amount kept: $1,060 − $249 = $811
You started with $1,000 pre-tax earnings.
Government took $719 in taxes.
You end up with $811 — even after doubling your after-tax money.
Work once → taxed at 47%.
Save & invest → taxed again at 47%.
This is why the new CGT changes kill incentive to work, save and grow wealth. 🇦🇺
#AussieTax #CostOfLiving #TaxReform
2 Weeks Ago we were reassured we had enough fuel due to the Geelong, Victoria Oil Refinery which is one of two remaining refineries.
‘Coincidentally’ today it exploded & it is now engulfed in flames🔥
Also ‘coincidentally’ our biggest fertiliser plant went off line & will take weeks-months to become functional again.
Right in the middle of a Global fuel & fertiliser crisis….
I don’t believe in ‘coincidences’ anymore.
1 of only 2 remaining oil refineries in Australia up in flames during a global oil crisis.
Cause unknown.
Plenty of speculation - under pressure to maintain peak output, poor condition due to inadequate maintenance and, of course, sabotage.
Wild.