A Treasury modelling error in Jim Chalmers’ budget means investors face a far higher effective impost than previously understood. Read the full comment: https://t.co/4kkcsNLEuR
@MisinfoFact Stop pinpointing him the point he’s making his completely valid. My son was investing for his first car and has to hand the government 30% now for the luxury of trying to save, this budget is meant to help young Australians, it’s bullshit it nails them with the 30% tax floor
@markbouris@DHughesy Preach it, this is the truth. My son wanted to continue buying ETFs to put towards his first car, he’s so discouraged knowing he has to give up 30% when he’s 18. It’s like the government just wants him to keep cash in the bank and keep working it’s horrific
@PaulineHansonOz If you want to make some serious inroads into this labour government you need to try and deflect this topic and talk to the heart of the issues affecting Australians, that is, this budget has destroyed any aspirational bone people once had, and income taxes have never been higher
@TimWilsonMP@AlboMP@JEChalmers Please continue to push this all the way to the election. I am a young Australian and my only hope of getting ahead was buying shares, this budget smashes me and all my peers they are delusional.
Treasurer @JEChalmers can attack me all he likes in @ausgov question time as he did today. “they vote the way….Geoff Wilson tells them to do.” What he can’t explain is why @AlboMP and his new CGT changes will be a handbrake on Australian productivity. It will discourage Australian from owning share. It will encourage Australians to sell small growth companies and buy the large income-producing ones.
This isn’t about Geoff Wilson. It’s about the millions of Australians who invest directly in shares, start businesses, take risks and back the companies that create jobs and drive innovation.
Wake up and learn how the economy operates.
The Treasurer says he supports workers. Then why is he proposing a tax that makes it harder and more expensive for Australian businesses to access the capital they need to hire workers, grow and compete? This tax on aspiration, ambition, productivity, success and growth must be stopped. @JEChalmers insane CGT on Australian businesses must be stopped.
This policy doesn’t punish the wealthy. It punishes aspiration.
It will push capital away from the next Atlassian, REA or TechnologyOne and into mature, high-yield companies that already dominate the market.
Australia needs more risk-taking, more investment and more ambition, not a tax system designed to discourage all three.
Axe this tax so young Australians have a future.
@toy59496@karlstefanovic I feel like you’re the man to make this public. Senate administrators have been withholding hundreds of submissions for over a week and have only been publishing those bias towards the Labor agenda, even while the hearing has already started
@GeoffWilsonWAM I called today apparently there’s so many to publish there’s delays. lol. They reckon they should all be up before the public hearing starts
@PaulineHansonOz First home buys win in this budget, everyone else loses, until the first home buyers want to start investing some money, then they will realise they lost too.