Wbackdown

Born in the 2018 bear market. Open Source. Local Ai.

[Wbackdown @Wbackdown]

Never ask for advice from someone who hasn’t done what you’re about to do

[Matt Barrie @matt_barrie]

Gold Mines Australia has shelved its ASX listing plans and shifted its attention to Canadaafter the federal government’s changes to capital gains tax scared off potential investors
https://t.co/PW0T7Sq1Xy

[Melinda Richards 🇦🇺🇺🇸 @goodfoodgal]

Good morning!

Do you remember good old the days when you had to be good at your job to keep it?

#resignkatygallager

[Valerie 🤌🏻 @AussieVal10]

Sounds a lot like insider trading…same concept.

He is a useless POS who has mooched off of the people all his life. Great pick for PM hey 🤮

You keep going @DHughesy

[GemmaTognini @GemmaTognini]

She doesn’t know the difference between gross and net, as Estimates revealed this week.
Wouldn’t hire her to run the school tuckshop.

[Ben Fordham Live @BenFordhamLive]

This is hard to comprehend.

The Albanese Government is collecting $20,000 a second from taxpayers.

Listen to the details HERE.

🎧https://t.co/3APGBiadwI🎧

[Melinda Richards 🇦🇺🇺🇸 @goodfoodgal]

I guess if Dave can wake up - anyone can.

[Australian Lobby Group @AusLobby]

🚨 CONSTITUTIONAL SCANDAL EXPOSED 🚨

Albanese’s tax legislation is a flagrant, deliberate breach of Section 55 of the Australian Constitution.

It mandates that any tax law deal with ONE subject of taxation only. Labor has arrogantly bundled multiple tax grabs together, a cynical act of “tacking” designed to ram through their agenda and neuter Senate scrutiny. All whilst trying to bribe taxpayers to turn a blind eye with a $0.68/day reduction.

Shadow Treasurer Tim Wilson confirmed it. Any senators that support the legislation, are breaching our constitution.

Labor’s response? Dismissive disregard for the rule of law.

This isn’t incompetence. This is contempt for our Constitution and every Australian taxpayer.

Senate: REJECT this rogue bill in its entirety.

BLOCK SUPPLY until this arrogant government is forced to respect the foundational document of our nation.

No more games. No more fleece jobs.
Rule of law or bust. The Albanese Labor Government is off the rails.

#ConstitutionalCrisis #BlockTheBill #AusLobby @Greens @The_Nationals @LiberalAus @OneNationAus

[Robin Dods @toy59496]

Economic Treason: Selling Australia Through Tax Policy

The economic theft hidden within the new CGT policy is not just the extra tax collected on citizens today, but that the lack of taxation on foreigners means compounding will rapidly transfer our sovereign assets into foreign hands.

In the example shown, an asset that begins 50% Australian-owned and 50% foreign-owned ends up only 17% Australian-owned after 20 years, with foreign ownership rising to 83%. No takeover bid. No invasion. Just mathematics.

Einstein called compounding the "eighth wonder of the world," emphasizing that its power is so vast it dictates whether you build wealth or pay the price. The new tax settings mean we pay a very high price indeed. We pay with our home.

You might think the starting proportion of ownership is unrealistic at 50% each. In fact it's worse than you think, as the image shows 70% of our mining productive assets are already in foreign hands. With the disincentive for retail investors to invest in small miners you can effectively kiss our major export industry goodbye, as the effective portfolio tax means only foreigners will be incentivised to invest in these small miners. The structural failures of this new tax system are immense.

Sovereignty is ultimately about control. If we progressively lose control of the farms, mines, companies and productive assets of Australians we will eventually be subservient to an overseas economic Hegemon.

Arguably in relation to mining we already are subservient, and we urgently need to pivot the tax burden to advantage compounding to our citizens relative to foreigners. And yet your government is doing the exact opposite, and accelerating this tax-based transfer to foreign hands.

A nation that systematically taxes its own citizens more heavily than competing foreign capital should not be surprised when more of its wealth, influence and economic future ends up beyond its borders.

The government's taxation policy is not just poorly conceived but brought to its inevitable conclusion it is simply economic treason.

@AngusTaylorMP @PaulineHansonOz @AlboMP @JEChalmers

[Old Soldier @OMGTheMess]

So you pay me, and take tax. I buy stuff, you tax me again. I fill up the car, you tax me twice again. I buy a house, I pay another 10? taxes? I pay into super, you tax it. I invest my few remaining dollars, and you want 47% of my profits too?

[Politickler @StudLeeMD]

Australia’s finance ministers only qualification is an Arts degree.

What?

[that stock chick @ausstockchick]

A scandal and yet no out cry.

If this was on the ASX, it would be insider trading?

So how is this ok?

[Geoff Wilson @GeoffWilsonWAM]

Govt new CGT & trust tax is a brutal own-goal on Australian charities.
Albanese’s raid replaces the 50% CGT discount with CPI indexation + a punitive 30% minimum tax floor, while smashing discretionary trusts with the same 30% rate. Result? Charitable donors and family trusts who fund Salvation Army, Foodbank, St Vincent de Paul and tens of thousands of other charities get hammered 🔨. Less capital gains to give, less money to give. Donations slashed.
Classic Labor Govt: punish success, “soak the rich,” and watch the vulnerable starve while pretending it’s “fairness.”
Charities bleeding because bureaucrats can’t do basic math. Absolute policy failure. This new CGT must be stopped!
#LaborTaxRaid #CharityKiller
@Johnkehoe23

[Geoff Wilson @GeoffWilsonWAM]

Labor Govt turning Australia into the world’s biggest CGT ‘shithole’.
Scrap the 50% discount, slap on inflation ‘indexation’ + a 30% floor = up to 47%+ effective tax on real gains from property, shares & business.
Highest in the developed world. Crushing investors, killing incentives, and smashing housing supply while they pretend it’s ‘fairness’.
This is economic self-harm by a clueless government that hates success. Wake up Australia. 🇦🇺

[Melinda Richards 🇦🇺🇺🇸 @goodfoodgal]

The Australian “Finance Minister” doesn’t have clue.

It’s embarrassing.

The incompetence.
The Arrogance.

#resignkatygallagher

[Geoff Wilson @GeoffWilsonWAM]

‘Australia now has the highest CGT in real terms’. How embarrassing!Exactly why investors are fleeing. Taxing real gains at up to 47% (30% floor) after killing the 50% discount kills returns on shares, property & startups. This is an investment death sentence disguised as fairness. The new CGT must be stopped

[Noel Whittaker @NoelWhittaker]

🚨 Tax specialists have uncovered a sleeper clause in the federal budget bill designed to quietly inflate investor tax bills — and it's a rort. The bill which passed the lower house yesterday, introduces a mandatory "loss-ordering" mechanism for the first time in Australian tax history. Instead of cherry-picking how losses offset gains, investors will now be forced to burn through their oldest gains first — stripping away the 50% CGT discount and leaving newer gains fully exposed to the punishing new cost-base indexation regime from July 1, 2027.
Say you bought shares in 2018 and again in 2024. You sell both at a gain, but you also have losses to offset. Previously, you'd apply those losses to your 2018 gains first — which already qualify for the 50% CGT discount, meaning less of them are taxable anyway. Under the new rules, you're forced to do exactly that — exhausting the discounted gains first and leaving your 2024 gains fully exposed to the new, harsher indexation rules.
You end up paying more. This isn't an oversight. It's a deliberate revenue grab buried in fine print

[Wbackdown @Wbackdown]

@ChrisDunnTV LFG

[Wbackdown @Wbackdown]

@_Checkmatey_ LFG

[Melinda Richards 🇦🇺🇺🇸 @goodfoodgal]

Good morning!

As promised… posting every day until the whole of Australia has seen it.

Show your friends.
Share it round.
Watch it again.

Oh… and for the rest of the world? Have pity on us. It’s our Finance Minister.

[Satoshi Wolf @SatoshiWolf]

The past week on X has opened my eyes to how many unproductive losers there are in Australia.

The amount of people gunning for an inheritance tax, higher taxes on property, shares and businesses is staggering.

The lack of basic understanding how the world works and the risks involved for business owners has left me speechless.

It's almost like your jobs, I can tell a lot of you don't have one, appear out of think air and not from the risks, blood, sweat and tears of the business owners.

I truly fear for any hard-working Aussie still there knowing that these hordes of people would hang you by your feet and take everything you have for themselves despite never working for it.