The $1,000 tax deduction, $250 ‘working Australians tax offset’, and CGT and negative gearing changes will benefit most young people, Treasury secretary says
According to government modelling lol. The same government making the changes without running on them as an election point, the same government who before this election promised they wouldn’t make these changes. Sorry if I don’t believe them.
The CGT changes don’t make young Australians better off. They mean that investing just got a whole lot less effective as a means of building wealth.
Normally investing comes with risk, so investing in economic activity which provides a boost to your country should be encouraged as it drives GDP growth.
The problem is we setup a generation of investors in a safe bet (or a rigged game depending on how you look at it) and it wasn’t driving economic activity which has resulted in very low increases in GDP despite increasing costs and competition.
The issue is what we’ve been investing in, not the discount.
If all that investment had been flowing into small businesses, generating jobs and economic activity, house prices wouldn’t be fucked and wages would be high. We’d all own a house and be wealthier as a nation.
Which in turn wont make young Australians better off in terms of entering the housing market or paying too much rent due to a housing crisis caused (in part) by that very means of building wealth?
According to government modelling lol. The same government making the changes without running on them as an election point, the same government who before this election promised they wouldn’t make these changes. Sorry if I don’t believe them.
The CGT changes don’t make young Australians better off. They mean that investing just got a whole lot less effective as a means of building wealth.
Why should investment income be taxed less than employment income?
Normally investing comes with risk, so investing in economic activity which provides a boost to your country should be encouraged as it drives GDP growth.
The problem is we setup a generation of investors in a safe bet (or a rigged game depending on how you look at it) and it wasn’t driving economic activity which has resulted in very low increases in GDP despite increasing costs and competition.
The issue is what we’ve been investing in, not the discount.
If all that investment had been flowing into small businesses, generating jobs and economic activity, house prices wouldn’t be fucked and wages would be high. We’d all own a house and be wealthier as a nation.
Which in turn wont make young Australians better off in terms of entering the housing market or paying too much rent due to a housing crisis caused (in part) by that very means of building wealth?