Will Freeborn

building Primary. interested in stuff

[Paul Bassat @PaulBassat]

Underlying the budget debate is a debate about what sort of a country we want to be.

Firstly do we want to be a country where most young Australians can afford to buy a house, or can afford to pay their rent.

I think the answer from just about all of us is yes. State and Federal Governments have let young Australians down over the last 30 years; buying your own house has become an impossible aspiration for millions of (mainly younger) Australians.

In that context budget changes to CGT and negative gearing as they relate to residential property should be welcomed. Truthfully they aren’t going to help as much as we would all like as the fundamental issue in Australia is lack of supply and, by the Government’s own admission, the budget does little to increase supply.

The second question is whether we want to be a society that encourages and incentivises hard work and entrepreneurship AND at the same time helps Australians who are doing it tough. I think the answer to the 2nd question should also be an unambiguous yes.

That is the fundamental problem with the budget. The rhetoric is all about Intergenerational fairness but the reality is that it takes from business builders in Australia and it doesn’t give something back to other Australians. The CGT changes will just discourage business building and job creation and the extra revenue will fall into a massive fiscal black hole.

A budget that reduces incentive for Australians to build businesses and employ people is a bad budget.

People can use whatever labels they like but if people think there is something wrong in advocating for wealth creation in this country then it just means they have a different vision for this country. My vision is the vision articulated by the Hawke Keating Government and then by the Howard Costello Government. That is the Australia I aspire for us to be.

The CGT hike for business builders will do nothing to increase prosperity or fairness unless your definition of fairness is reducing incentive for Australians to build successful businesses. Yes, if you build a successful business you will generate wealth for you and your family but you will also share that with the country via job creation, increased tax revenue and better products and services for Australians.

I am old enough to remember when we called that a win win.

[Will Freeborn @willfreeborn]

@PaulChr86170844 @bnthompson Why on earth would you sell? Investors holding existing stock given all the more reason not to release that supply back into the market

Make it make sense

[Will Freeborn @willfreeborn]

@TMFScottP Aligned, but I don't think this shifts young Australians' access to housing. I'm in this cohort and I worry for my peers

Applying uniform CGT changes while property keeps its carve-outs actually makes housing relatively more attractive vs productive investment

[Will Freeborn @willfreeborn]

@TMFScottP Ha! Was just playing with my account settings; should work again now

[Will Freeborn @willfreeborn]

@TMFScottP Or, give buyers rollover relief so they gain only crystallises when they take money off the table. Either way, PPOR is dumb because the people who benefit from it most are not those using housing as shelter

I'm in the generation of Australians this reform is aimed at + it's shit

[Will Freeborn @willfreeborn]

@TMFScottP I mean you would only pay CGT on the gains above your purchasing price, so if housing = shelter, then that's a non-issue. Buyers already get to lever themselves up through our (insane) LVR ratios, so if anything flattening the curve should work in their favour?

1/2

[Will Freeborn @willfreeborn]

@onslowshipping @cosmicjester There's a huge difference between removing negative gearing and the CGT discount as a whole

[foks @ExaltedFoks]

I had to stop reading the Dune series because I kept talking like Muad’Dib and it was pissing off everyone in my life

[hope hopes hoping @hopes_revenge]

claude take my online dui course . make no mistakes

[Will Freeborn @willfreeborn]

@mhdempsey would love to test, soundsamazing

[Will Freeborn @willfreeborn]

@invdiary It’s more that I just don’t have any trust in their management at this point. Obviously it has immense potential but there’s a reason it’s sitting close to $0 EV.
I moved proceeds into AWJ and EQR.

[Will Freeborn @willfreeborn]

@invdiary Trust me, I know all of this. I recently sold off my entire position (top-20) bc there just isn't enough upside relative to the liquidity risk and company profile.
They couldn't turn the business around after the Jewell success, I don't see how this is different.

[Will Freeborn @willfreeborn]

@jsngr @async Hey Jordan, I'm keen!

[Kendric Tonn @kendrictonn]

Everyone is gathered for the reading of the will. The lawyer adjusts his glasses and, hesitantly, reads: "tôi kratistôi. That's all it says."

[Will Freeborn @willfreeborn]

@calvinfroedge you should look at $AWJ.AX

[Will Freeborn @willfreeborn]

@soundslikecanoe @kepano Can you share rough structure? Setting up my workflow now and keen to stand on the shoulders of giants!

[Will Freeborn @willfreeborn]

@bnj @variantui Yes please!