More fallout coming from @AlboMP ‘s insane new #CGT. Junior miners flush with cash now, unfortunately the new CGT threat is coming! Junior miners spent $1.1 billion on exploration last quarter and still hold $13 billion in cash. That is the pipeline for Australia's next generation of mines. Which will dry up because of the new illogical CGT.
Removing the 50% CGT discount hits it where it's most fragile. Exploration IPOs raise $5-10 million and rely on everyday Australians turning up. No retail investors, no float. No float, no discovery. @Adrauso@MineralsCouncil #StoptheCGT #JoinWARonCGT
https://t.co/CBD5AX2c7Y
WHY I LEFT AUSTRALIA
(VIEWS FROM BEYOND THE IRON COASTLINE)
It's been 4 months since I moved overseas.
I uprooted my entire life, moved out of a newly renovated house, away from friends and family, away from the country I grew up in.
But it was necessary.
Because there's no other way to put it - they've fucked Australia. Like, really fucked it.
I'm a hard worker. I worked long days, weekends. In a stressful, high pressure job. I took it seriously (which is rare, most people only half do things).
In my spare time, I would spend hours (many hours) writing books and creating content online to make some extra money.
But at the end of each month I was left with basically nothing.
The government took most of it. Either straight away through income tax, or more insidiously through hidden taxes, inflation, and crazy regulatory requirements.
And that money they stole from me wasn't taken to improve the country (I could probably live with that).
The deranged communists in charge viewed themselves as gods. And they were redistributing my wealth in accordance with some structure of 'morality' that I didn't adhere to.
The taxes imposed on me were considered just, because (under their morality) I did not deserve as much as I had, there were others more deserving.
But I didn't agree with my money being stolen to build houses in the middle of nowhere, just for aboriginal welfare recipients who would ultimately tear them apart.
I didn't agree with my money being stolen so that African migrants could fraudulently receive it via the NDIS.
I didn't agree with my money being stolen so that Indian 'students' could move their families here through the student visa backdoor.
And I didn't agree with my money being stolen to fund Chinese corporations building wind farms on all the farm land between Melbourne and Adelaide.
I can't describe the feeling of hopelessness that comes with watching your labour fund the future of others.
I went to a dark place when I realised that the work and stress I put myself through didn't help me or my family. It all felt... so futile.
I was a tax slave being bled dry.
And so I left.
I moved somewhere where I keep my money. All of it.
I've made 2 years of financial progress in the 4 months I've been out of the country (thanks to 0% tax, as well as the healthy salary increase that came with moving to a country with a real economy).
And now looking back at Australia from the outside, I know I made the right move.
It's a literal circus.
The media is all propaganda. The government is communist. The people are trapped, prisoners.
I knew this when I lived there. At least I was pretty sure I did.
But seeing it from the outside solidified every hunch I had while living behind the Iron Coastline.
The future of Australia is bleak. Citizens won't build wealth. No companies will invest there. And the Nanny State will need to keep increasing taxes on the small portion of the population that actually creates value to fuel their spending frenzy.
And that can only go on for so long before it collapses.
Good luck to everyone back home. I'm thinking of you.
But all I can say is that there a countries out there that don't view wealth building as immoral, that understand how businesses work, and want the country to actually BECOME something.
You should go there, probably.
The top tax threshold sat at $180,000 back in 2008.
Today it sits at $190,000 — a tiny $10,000 increase across 18 years.
Meanwhile, inflation over that same period has risen dramatically, meaning the purchasing power of $180,000 back then is roughly equivalent to around $270,000 or more today.
The government is making billions from bracket creep.
Insanity. What do you call it?
“Aussie investors lose the 50% CGT discount for backing companies they believe in. Foreign capital gets a concessional 15% tax rate on renewables until 2040.
One rule for global capital. Another for working Australians who actually take the risk here.
This is not reform. It’s preference.”
Doctor @nick_coatsworth nails it: “If you’re any Aussie investing in a company you believe in you’ll lose your 50% capital gains discount. If you’re an overseas company investing in renewables we’ll let you off with 15% tax.” I agree with Dr Coatsworth and the @AlboMP government is “destroying Australian ownership of Australian businesses”.
The @ausgov “must stop this insanity.
One rule for global capital. Another for working Australians who actually take the risk here.
This is not reform. It’s preference. @chrisbrycki calls the broader CGT changes a potential “wrecking ball” for the economy.
This is economic vandalism. Stop it. Great article @heath_parkes #StoptheCGT #JoinWARonCGT
https://t.co/glb3k9J3hl
This Monopoly board captures a simple truth about tax policy: when governments raise more and deliver less, confidence erodes.
@AlboMP ‘s new significantly higher tax, the new #CGT has been legislated.
Whatever your politics, the question is the same, will this encourage or discourage productive investment and capital formation in Australia?
We all know the answer. We must fight to stop this tax applying to all Australians businesses and shares. #StoptheCGT #JoinWARonCGT #CGT
It’s Pauline Hanson here. Jim Chalmers is full of shit.
One Nation doesn’t support scrapping super, we just think people should be able to use their super when in financial distress instead of losing their home.
Labor would rather you end up homeless.
We don’t expect you to chip in anything to our campaign to do the right thing by Aussie families.
Just vote One Nation.
#LaborLies #FireTheLiar
Jim Chalmers cannot stop spending, and now he has his eyes on Australians’ superannuation to fund more of Labor’s bad ideas.
When the Prime Minister calls your super a “national asset” that can be “used more appropriately”, alarm bells should ring.
Your super is not Labor’s piggy bank. It is your money, earned through your work and put aside for your retirement.
One Nation believes Australians should have more control over their own super, including being able to access it when they genuinely need it.
Jim Chalmers should keep his hands off your super.
@luke_amott High taxes. Crippled ambition. Entrenched union kickbacks.
Under Labor, hard work is penalized while bureaucracy and complacency thrive. Australia deserves better than managed decline.
$2.5b to prop up an Aluminium smelter that can’t run profitably with electricity prices where they are
$40b into snowy hydro (a battery)
$8b into home battery subsidies
$2b into roof top solar subsidies
Plus they underwrite the losses (if any) of the Eraring coal fired power plant (up to $225m pa)
That’s a hell of a lot of money to add zero meaningful electricity GENERATION. They’ve botched the system for $60b + .. how many new baseload nuclear or coal plants could that have built?
A pantomine horse isn’t a horse.
An open secret isn’t a secret.
A hot dog isn’t a dog.
A shrinking violet isn’t a violet.
Crow’s feet aren’t feet.
Fair game’s not a game.
Trans women aren’t women.