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...
Indians celebrate by throwing goats in the air.
This is truly barbaric.
In the West we are raised to respect all life & to never let any animal or creature suffer.
In the West, morally & spiritually we evolved & now our Governments are brainwashing the younger generation with depravity & self hate & they are bringing in people that throw animals in the air for fun & aren’t even toilet trained.
What kind of civilisation would do this to itself.
This is intentional destruction.
On the 21st of April 2006, following years of careful financial management from Peter Costello and the Howard Government, Australia was free of debt.
Today, the next generation of Australians are being left a $1.2 trillion debt bomb thanks to Labor's uncontrolled spending.
“We’re not saving the planet — we’re just exporting our emissions to China and India.”
Konstantin Kisin cut straight through the net zero illusion on Steven Bartlett’s Diary of a CEO.
Britain proudly cuts its share of global CO₂ from 2% to 1.9%, while actually increasing total emissions by offshoring production to countries with dirtier energy, then shipping the goods back on heavy fuel tankers.
At the same time, many people are poorer today than 20 years ago, even if they haven’t fully felt it in their wallets yet.
Kisin predicts the big public shift away from net zero won’t come from better science or arguments — it will come when ordinary people can no longer afford their current lives.
That’s when reality finally breaks through.
It’s a sobering reminder that economic pain often forces the honest conversation we’ve been avoiding.
When do you think people will finally start connecting these dots?