Daniel Connolly

[Skull @SkullSpeedDeal]

Remittances leaving Australia represent our 5th largest Export by value.

But instead of bringing in money for the benefit of Australians, we are sending it overseas for the benefit of foreigners.

Remittance Tax Now!

[7NEWS Sydney @7NewsSydney]

Thousands of first homebuyers who purchased under the Albanese government's five per cent deposit scheme are facing a ticking time bomb.

Property prices are expected to plunge due to the budget, meaning many could owe more on their mortgages than their houses are actually worth.

[Luke Cashmore @___Cashy]

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

[Daniel Connolly @snowunda]

Build-to-Rent (BTR) developments:
Fully exempt from the changes.
• Widely held trusts (for example, most Managed Investment Trusts or MITs) and superannuation funds (including self-managed ones): Also fully exempt.

Foreign investors in BTR projects get an extra sweetener that was not changed by last week’s budget:
Through qualifying Managed Investment Trusts (MITs), they already enjoy a concessional 15% withholding tax on both rental income and capital gains from eligible BTR residential developments.
(This rate was reduced from 30% starting 1 July 2024 under earlier legislation — the 2026 budget simply strengthened the affordability requirements for these concessions but left the 15% rate intact.)

In short: While everyday Australian investors and family trusts face tighter CGT rules from 2027, new housing supply (especially large-scale Build-to-Rent projects) and foreign capital flowing through MITs are protected with continued tax breaks.
These changes aim to encourage more rental homes, but they highlight a two-tier system depending on whether you’re a local mum-and-dad investor or a large (often foreign) institutional player in BTR.​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

So in other words - Aussie mums, dads and young Australians are made to suffer whilst the financial whales remain a protected species 😡

Once again, policy out of Canberra fails the pub test.

[Gerard Rennick @RennickGBR]

While the rest of the nation gets hit with higher capital gains tax, there’s a special carve-out for foreign investors in renewable energy.

They get to keep the 50% CGT discount at a cost of $425 million to the taxpayer.

Foreign investors already don’t pay Capital Gains tax on shares and intangible assets. Why didn’t Chalmers crack down on them?

The answer of course is that the Labor party, like the Liberal party are controlled by foreign interests.!

But wait there’s more.

Under the capacity investment scheme underwriting agreements, if the actual revenue earned by a project is below the agreed revenue floor, the Australian government will pay the project operator 90 per cent of the revenue shortfall up to the agreed annual cap for 15 yrs. (see comments)

The Labor government will grant “whatever it takes” subsidies to ensure “renewable” energy is a part of the energy grid, no matter the cost to the taxpayer.

But in keeping with the government vibe of transparency the cost of the scheme can’t be disclosed and I quote.

“The CIS is listed in the budget papers as a contingent liability, alongside the Snowy 2.0 hydro electric scheme, which has already blown out in costs by billions.

According to the budget papers, "The Australian government's maximum liability and estimated payments under these (CIS) agreements are not for publication due to commercial sensitivities".

It’s not hard to see why the major parties are struggling. Wasting taxpayers money and refusing to disclose it has to stop.

[BroBro🇦🇺🏇🏻 @realRick_AUS]

Look who is starting to wake up..

Not in my life I would’ve thought haha

Why aren’t more people speaking up?

You’re complicit if you don’t

[Gerard Rennick @RennickGBR]

“Filings show that of the $1.74bn Facebook, led by Mark Zuckerberg, generated from Australian businesses in 2025, $1.51bn was immediately paid out to a related company in the Meta group overseas.

This massive transfer of cash, revealed in new financial filings, came as the company also paid a $120m dividend to its American owners and completely drained its local bank account.

It comes as the Albanese government is this week set to release its long-awaited draft legislation for its proposed crackdown on digital platforms that fail to compensate news publishers for the use of their content.”

•••••••••••••••••••••

In all the teeth gnashing over the budget, I didn’t see the elephant in the room mentioned once.

Multinational profit shifting is bleeding this country dry.

Yet rather than do something about it Albanese is doing the media’s bidding by arguing the media should be paid, when in fact it’s Australian taxpayers that should be compensated by Facebook etc for the use of our telecommunications infrastructure and databases. Ie the people

The ATO needs to stop attacking small businesses and start going after the big corporations who are literally stealing billions of dollars from Australia.

Facebook derives its income from advertising in Australia. If both the advertisers and customers are here in Australia then the source of the income should be deemed to be derived in Australia and taxed here not offshore.

You can tell Meta are screwing us by looking at their worldwide accounts. In 2024 their worldwide operating profit ratio was 42% yet in Australia it was less the 14%, one third of their worldwide income.

Why isn’t the ATO using our transfer pricing laws to stop over inflated payments to related entities.

People First is the only political party to have a policy to stop profit shifting.

We will lift the withholding tax rate on profits sent offshore to retain our profits here in Australia.

Read our policies at https://t.co/PeAaJW2pjF

[Daniel Connolly @snowunda]

🎯

[christopher joye @cjoye]

The single biggest winner from the budget: the tax-free owner-occupied home, which is where people will put their money. After the budget doubles the capital gains tax on productive businesses/assets from circa 23.5% to 46-47%, investors will understandably pull money from businesses, shares, commercial property and rental housing and plough it into their tax-free owner-occupied home. It's a great way to push up the prices of these houses. On the other hand, cutting negative gearing while also doubling CGT makes investing in rental properties extremely unattractive. It hammers the capital gain upside on any asset: shares, commercial property, the small or medium sized business you built, venture capital and private equity. It will give Australia the most unattractive capital gains tax in the WORLD (see table below)! So the government's policies will (1) push up owner-occupied house prices, (2) push up rents, and (3) reduce the capital available for investing in any small, medium or large sized business that is driving employment, innovation, growth and productivity/prosperity. Investors will go to other countries where they pay half the capital gains tax, or less. Since these pollies have never worked a day of their lives in the private sector, it is no surprise that when they decide to completely and unilaterally rewrite the entire tax system for all investors and businesses -- after promising before the last election more than 50 times NOT to change the capital gains tax and negative gearing rules -- that they would blow the entire Aussie economy up... Your best bet will be to buy a house, live in it, and hope they keep dropping 500,000 new people into the country every year to pump-up prices...

[Daniel Connolly @snowunda]

@freo95 Well said Dicko

[Gerard Rennick @RennickGBR]

There is no place in the Defence force for Welcome to Country.

It’s absolute insult to ignore the sacrifices of our past and present servicemen, only to then acknowledge the “traditional owners of the land.”

The new chief of the Army should acknowledge all troops past and present regardless of race and prioritise their welfare rather than woke ideology.

[IMARoostàr🐓 @IMAROOSTAR]

This is gold….. a must watch

2020 @Albo criticising the government for not having 90 days fuel 🤣😆😆🤡
Jesus he has aged 20 years in the last 6.

[Drew Pavlou 🇦🇺🇺🇸🇺🇦🇹🇼 @DrewPavlou]

BIG THINGS ARE HAPPENING WITH THE KARL STEFANOVIC SHOW

@PeteZogoulas and I are willing to go to jail to expose NDIS fraud

Thank you @karlstefanovic for hosting us. Absolute legend.

Watch now: https://t.co/j0A3gDOPZ8

[Gerard Rennick @RennickGBR]

“National Australia Bank has cut hundreds of jobs in Australia as it ramps up hiring in India and Vietnam.

In the latest restructure, 447 roles will be eliminated from its business division in Australia, while 237 new positions will be created in the two Asian countries.

In a statement to Daily Mail, NAB confirmed that the jobs were being cut, saying it was needed to build a 'modern workforce'. 

'As NAB has said for some time, building a modern workforce that best supports our customers is an important part of our strategy. Our workforce has been evolving to ensure we can help customers more consistently at the times they need us, and to help us access great talent in key markets. We continue to hire and develop people in Australia - especially in customer facing roles - to strengthen our capability.”

•••••••••••••••••

The offshoring of jobs offshore by Australian companies has to stop.

It’s completely criminal that both major parties have done nothing to crack down on this.

While gas companies soak up all media attention re profit shifting, it is just a drop in the bucket compared to the total amount of profit (and job) shifting that goes on.

I’ve attached the reply from the ATO to a Question on Notice regarding I put them in which they state there is no tax withheld from wages paid offshore. This rort has to stop.

People First is the only political party that actually takes this problem seriously and has a solution to fix it. We will lift withholding taxes on profits offshore.

Artificial intelligence is going to eliminate enough jobs as it is. The government doesn’t need to eliminate any more.

If you want to back a party that puts substance over spin please consider signing up today at https://t.co/PeAaJW2pjF

[Miss Madeleine @MadsMelbourne]

Senator Cadel sums it up perfectly!

‘Australia is being robbed of its sovereignty’

[Daniel Connolly @snowunda]

Australian government spending is at all time highs driving up inflation.

The RBA’s second interest rate hike in as many months puts Aussie families to the sword rather than the fat cat bureaucrats who are steering policy.

The Albanese government must be held accountable.

[Daniel Connolly @snowunda]

Albanese Labor government facing a potential debt blowout exceeding 50% of GDP by 2030 without fiscal reforms.

January 22, 2026, article from The Australian
The OECD's Economic Survey of Australia, which warns the Albanese Labor government of a potential debt blowout exceeding 50% of GDP by 2030 without fiscal reforms.
- OECD recommendations emphasize broadening the GST base, raising fuel and property taxes, and implementing spending controls such as means-testing the National Disability Insurance Scheme to curb deficits projected at 2.5% of GDP.
- This critique contrasts with Treasurer Jim Chalmers' view of the report as an endorsement of Labor's agenda, highlighting ongoing tensions in Australia's post-pandemic economic policy debates.

[Daniel Connolly @snowunda]

OECD issues urgent reform warning for Labor - The Australian https://t.co/rkx3zos83v

[Daniel Connolly @snowunda]

OECD issues urgent reform warning for Labor - The Australian https://t.co/rkx3zos83v

[Pete Z @PeteZogoulas]

9 NDIS providers are linked to this one address.

I visited during staff hours.

Every door locked.
Zero staff.
Zero clients.
How is this allowed?