Peak investment body is warning AI and defence capital will go offshore. They're right.
Top-rate effective CGT goes from 23.5% to as much as 47%. The US is 23.8%. The UK 24%. Singapore and NZ have none.
Capital doesn't argue. It leaves. @australian@gregbrown_TheOz#CGT#startups
The Government @AlboMP & @JEChalmers needs to wake up. Please retweet. Not a single finance academic at a recent academic business conference supports the #CGT changes. EVERYONE there hates them.
Wake up Australia
The @AlboMP Government’s CGT massacre is economic vandalism.
World’s highest effective rates on property investment + killing negative gearing on established homes + 30% family trust tax = housing market hammered, prices falling at an annualised rate of 10-12% in our biggest cities.
This is a declared war on aspiration and productive capital. Australians deserve better. We will fight this. #ScrapTheCGTHike #StopInsaneCGT #STOPtheAspirationTax
🚨 53 days since the Budget, and @AlboMP & @JEChalmers ‘s disastrous CGT changes are STILL dominating front pages of @australian & @FinancialReview
“A very bad choke: hit on CGT reform”
“Tax disputes loom in new CGT regime”
This isn’t reform, it’s economic self-harm. Crushing businesses, startups, innovation and everyday investors with taxes on unrealised gains and the scrapped 50% discount.
As the full scale of the damage sinks in, Australians are getting angrier and angrier.
Time to scrap this ideological attack on aspiration. Great journalism @mcranston1 & @Johnkehoe23
#StopCGTTax #AspirationalAustralia