How does CGT across all assets such as shares, collectibles and other investments (excluding property) help the housing crisis exactly?
Or is it a tax crab to cover up massive corruption in the public sector that's bleeding money?
The CGT Tax Grab They're Hiding
The capital gains tax changes are worse than anyone realized. The actual tax rate is 32% including Medicare levy. And here's the kicker: it's a flat 32% regardless of your income. Zero taxable income? Still 32%. You can't reduce it with super contributions. You can't reduce it with charity donations. The only exception? Pensioners.
Self-funded retirees are being hammered while the government tries to rush it through Parliament before people figure out what's really happening. Spread the word. They're counting on you not noticing.