It was never about cheaper housing it is all about control.
It is called Communism .
They are now taxing you for making money.
Out of the money they have already taxed you on.
You make money on shares,crypto,gold,silver,real estate, business etc they are hammering you.
Tax reform should deliver something meaningful - lower taxes, higher productivity, more efficient spending, less debt.
This package delivers none of these.
These changes weren’t debated before an election, were carved up after backlash, and now billions in NDIS savings have been traded away.
After all the political capital spent, Australia is left with a more complicated tax system and a weaker fiscal outlook than originally promised.
You don’t have to oppose CGT or NG changes outright to see this is a dog’s breakfast.
@ClareONeilMP You’ve just monumentally destroyed wealth in Australia, removed any incentive to build new property which means less supply. This is the worst government in Australian history
@StuartMaggs Higher taxes cause rampant inflation as people need to get paid more to survive, combine that with lower incentives to invest meaning less productivity, less taxes for their unhinged spending plans … it’s viscous circle
This budget which is purely a money grab to fund Labors profligate and unhinged spending, is the day Australia begins its descent down the gurgler ... where the are changes to the NDIS or are the criminals still allowed to keep rorting while investors are pillaged by the government?
Unfortunately gold and silver are interest rate sensitive, and rates are going up, so short term more downside possible. Remember silver bubble popped in Feb due to Warsh announcement. Until inflation is tamed, gold and silver will remain under pressure, so it’s trim and accumulate at lower levels. I sold 50% of my miners 2 weeks ago, but will keep some exposure and top up if prices get cheap. LT fundamentals have not changed so perfectly fine to sit and ride it out