Labor's federal budget is falling flat with its target demographic as millennials say they would rather vote for One Nation than Labor or the Greens, according to a new Redbridge poll.
Yeah unfortunately, that part of the budget is probably the decent bit.
I hear your point on business outside housing investment and agree with it somewhat, which could be amended, but these tax concession changes where housing is concerned are well overdue.
It makes sense full stop for housing, not just in a way. It and lack of public supply are the two core reasons we have the problem we do.
As for other businesses, I guess that’s why we should look at amendments. Remembering of course that these are, as you point out elsewhere, very large and wealthy businesses who despite the changes will probably still invest if it’s worth it.
CGT changes are adjusted for inflation and still represent an extremely attractive vehicle for people. What else are you going to do with money you’ve amassed, sit on it like a dragon?
All it does is shift some or the tax burden to rich arseholes and make hoarding land less attractive (even adam smith thought landlords fucking sucked).
Because people choose to open businesses based on the market they’re targeting, not CGT. That might be a factor with a comparable business, for instance a corner store, but you’re not likely to start a reptile relocation business in NZ or a fjord touring company in Australia.
That’s a hilarious misrepresentation of tax laws in NZ lol but just taking the logic, why doesn’t everyone just only invest in panama or some other tax haven?
Could it be because more than just “how lowest tax?” goes into where people can start businesses? Hmmmmmmm?
One Nation? No thanks
The budget you silly sausage. Unsurprising that you think it’s a bad one with reading comprehension like that
It is bad, the changes discourage investment in creating new businesses in Australia. It’s going to screw the country in the long term
Yeah unfortunately, that part of the budget is probably the decent bit.
I hear your point on business outside housing investment and agree with it somewhat, which could be amended, but these tax concession changes where housing is concerned are well overdue.
Makes sense for housing but don’t understand why it wasn’t just for housing
It makes sense full stop for housing, not just in a way. It and lack of public supply are the two core reasons we have the problem we do.
As for other businesses, I guess that’s why we should look at amendments. Remembering of course that these are, as you point out elsewhere, very large and wealthy businesses who despite the changes will probably still invest if it’s worth it.
citation needed.
CGT changes are adjusted for inflation and still represent an extremely attractive vehicle for people. What else are you going to do with money you’ve amassed, sit on it like a dragon?
All it does is shift some or the tax burden to rich arseholes and make hoarding land less attractive (even adam smith thought landlords fucking sucked).
Increasing CGT to one of the most expensive in the world doesn’t need a citation… Engage in some basic thought.
You create a business, take on massive risks, fund it yourself even, then when you go to sell you’re looking at essentially 100% capital gain
That’s not extremely attractive. Why not create the business in New Zealand where that would incur 0% tax, because they don’t have CGT?
Because people choose to open businesses based on the market they’re targeting, not CGT. That might be a factor with a comparable business, for instance a corner store, but you’re not likely to start a reptile relocation business in NZ or a fjord touring company in Australia.
You’ll open it where the demand for it is.
CGT isn’t really an issue for corner stores… It’s for businesses that grow that provide a lot of jobs
https://www.smh.com.au/politics/federal/cross-the-ditch-start-ups-told-to-do-it-in-nz-to-dodge-cgt-20260521-p5zzbg.html
https://www.adelaidenow.com.au/news/national/federal-budget/labor-warned-tax-changes-will-drive-investment-to-nz-singapore/news-story/0fbe7d3d2be0ceba83b9d6580c5f236e
https://www.theaustralian.com.au/nation/australia-risks-business-exodus-to-new-zealand-over-new-capital-gains-tax-rules/news-story/01d451992be10c828a0c6bde8eb40205
https://www.sbs.com.au/news/article/come-over-nz-minister-invites-australians-unhappy-with-cgt-changes/dr9ej3q5a
That was an example, as was the fjord tourism company.
Businesses, large or small, will factor in demand before CGT.
The links don’t alter that fundamental of business.
That’s a hilarious misrepresentation of tax laws in NZ lol but just taking the logic, why doesn’t everyone just only invest in panama or some other tax haven?
Could it be because more than just “how lowest tax?” goes into where people can start businesses? Hmmmmmmm?
There is literally no tax in NZ on selling shares in private companies.