Derek Goodyer @DerekGoodyer

HERE HE GOES AGAIN! ANOTHER LIE! Albanese just doesn’t STOP!

I just lodged Stockspot's submission to Treasury on the proposed Innovative Business CGT Concession. We submitted early to avoid any chance of a repeat of the Senate inquiry, where our submission wasn't published until the hearings were already underway. The submission details a number of technical problems with the proposed startup carve outs, including the five year holding period, ten year company age limit, $10 million cap and uncertainty around existing employee share schemes. The bigger issue is what these carve outs implicitly acknowledge... The Treasury consult paper correctly identifies that the proposed CGT reforms discourage entrepreneurship, employee ownership and high growth investment. The mistake is assuming those effects are limited to a narrow subset of technology startups! If these tax changes are so damaging that founders, early employees and investors need special protection from them, that's a sign the underlying policy itself should be reconsidered. Rather than creating an ever-growing patchwork of carve outs, exemptions and special rules, Treasury should scrap the broader CGT reforms themselves. A few quotes from our submission: "Australia should aspire to create the next Canva, Atlassian, Kogan or SafetyCulture. The tax system should not create incentives for founders to relocate, restructure or establish future ventures in other jurisdictions." “The $10m lifetime cap proposal creates the bizarre outcome that the very people Australia should most want to encourage, founders who build enduring companies, create significant value and generate jobs at scale, are the first to lose access to the concession. The reward for building a larger, longer lasting and more successful business should not be a higher tax rate.” "The message risks becoming: start a business, but don't make it too successful." "The consultation paper largely assumes that entrepreneurship occurs through startup formation. However, millions of Australians participate in economic growth by investing in listed companies and ETFs. These investors provide capital to the same businesses that employ Australians, develop new technologies and drive productivity growth. Yet they remain fully exposed to the broader tax increases despite performing the same economic function of supplying long term risk capital." Our submission in full: mcusercontent.com/41e390cbcda510…

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Australia is now possibly the worst place in the developed world for savings and investing outside of super. 30% CGT minimum. Real effective CGT on diversified portfolios far in excess of the 47% top rate on wages. Meanwhile, even well known libertarian havens such as France and Italy have special tax incentives for investing outside of the pension system (see table below from Vanguard). What are we doing to ourselves??

This is the man @JEChalmers who is responsible for introducing the insane CGT. We must stop the Aspiration Tax, the Productivity Tax, the Growth Tax and/or the Ambition Tax. The new CGT on Australian businesses must be stopped.

People are mocking Pauline Hanson’s speaking style and how she articulates her sentences. Never forget: Our PM once lifted an entire chunk of a speech straight from The American President, the Michael Douglas movie. He’s not a serious leader. He’s a joke.

You don't need to take it from me. Here's what former Treasury official Geoff Francis says this budget will do.

The CGT Tax Grab They're Hiding The capital gains tax changes are worse than anyone realized. The actual tax rate is 32% including Medicare levy. And here's the kicker: it's a flat 32% regardless of your income. Zero taxable income? Still 32%. You can't reduce it with super contributions. You can't reduce it with charity donations. The only exception? Pensioners. Self-funded retirees are being hammered while the government tries to rush it through Parliament before people figure out what's really happening. Spread the word. They're counting on you not noticing.

Labor’s new ambition tax would mark the death of small cap investing in Australia. Let’s say you invest in small risky companies such as junior explorers on the ASX. You target a 15% after-tax return to compensate you for the high risk nature of these companies. You now potentially face a 66% effective tax rate after inflation on your portfolio. This means you need a 44% pre-tax return to hit your target. That is over twice Warren Buffet’s annualised returns since he took over Berkshire in 1965. Why bother?

David McMahon @David_McMahon75

a week ago

Australians investing in domestic small cap shares now face real effective tax rates of 66% on a typical modelled portfolio. Meanwhile, foreign investors in places like Singapore can invest in the same Australian companies and pay zero CGT. More and more of our assets will end

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The @AuSenate inquiry into the new CGT is a joke. Incredibly disappointing behaviour from the @AustralianLabor controlled Senate committee.

This is exactly why the rushed Senate "inquiry" is a farce. @TheRealDavey2’s detailed submission exposing the CGT hike as economic vandalism still hasn’t been published, just days before Monday’s hearings. His is a full takedown of the lack of mandate, the assault on investment/productivity/wages, the misleading justifications, and how this Bill drives capital into housing while punishing enterprise. Labor is ramming this through because it won’t survive honest scrutiny. @AuSenate must reject the CGT increase on non-property assets. #LaborTaxRaid #ScrapTheCGTHeist

Davey @TheRealDavey2

2 weeks ago

The Labor-controlled Senate inquiry into the CGT increase still hasn't made my submission public. Hearings are on Monday. I can only assume it's because my submission is highly critical of the change, and the process.

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Completely agree. @AustralianLabor is debasing our democracy by shutting out some of the most qualified voices against their economic vandalism. This tax assault on aspiration deserves full public scrutiny not their cowardly committee games. @chrisbrycki @DerekFranc90653 @FinServCouncil @humpheryjenner

Senator Andrew Bragg @ajamesbragg

2 weeks ago

Labor is debasing the Senate Committee system by denying access to public hearings to some of the most qualified critics of their horrendous tax plan.

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🚨 Spot on. This Senate “inquiry” into @ausgov CGT changes looks like a complete farce. They’ve banned real experts and investors from giving oral testimony, while stacking the room with partisan cheerleaders and generalists who don’t understand the technical damage. This isn’t consultation, it’s a rigged rubber stamp for economic vandalism. The Governments attack on aspiration, productive investment, startups, retirees and charities must be stopped. Scrap the CGT hike. Australia deserves better. #AxeTheCGTHike #AspirationMatters

Dekka @DerekFranc90653

2 weeks ago

100 percent agree with Chris; at this stage, he, my brother Geoff and I are banned from giving oral testimony to senate committee, even though we know it much better than their so called ‘experts’ who will talk performative nonsense at the hearings! x.com/chrisbrycki/st…

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Surprised it took so long for them to get this out. A New Zealander owning Australian stock pays zero tax on capital gains profit. Under the proposed legislation an Australian owning the same Australian stock will pay from 30% (you’d have to have almost zero other income) to 77% tax on the same capital gains profit. Crazily, an Australian owning NZ stock would pay the Australian gov the 30 to 77% tax.

SBS News @SBSNews

a month ago

New Zealand's finance minister, Nicola Willis, has invited Australians who don't like Australia’s proposed changes to capital gains tax (CGT) to move across the ditch. Learn more: bit.ly/4v152xZ

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Excellent submission Robin. Thank you

Robin Dods @toy59496

2 weeks ago

CGT : Submissions to Senate Enquiry Submissions that have been made public can be found here aph.gov.au/Parliamentary_… I found the one by Prof David Stern of ANU interesting in that he had to explain the basics of reinvesting earnings to grow the capital of a business which

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Submission to the Senate Economics Legislation Committee Inquiry into the Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 and the Income Tax Rates Amendment (Tax Reform No. 1) Bill 2026 Submitted by: Paul Date: 8 June 2026 Dear Committee Members, What a bloody joy it is to be spending a public holiday hastily scribbling this submission against yet another tax grab, with submissions due the day after a long weekend. Thanks, Labor, for the masterclass in democratic engagement—squeeze the peasants while giving yourselves a nice buffer. The Committee gets one business day after the hearings to spit out a report? Mate, that’s not scrutiny; that’s a drive-thru rubber stamp. This is a Breach of Trust, Pure and Simple Labor promised before the election they wouldn’t touch CGT like this. Now here we are, post-Budget, with a rushed bill that guts the 50% discount Australians have relied on for decades to encourage investment, risk-taking, and building wealth. This isn’t “reform”—it’s a bait-and-switch that punishes people who work hard, save, invest in shares, property, or businesses, and try to get ahead. My grandfather worked on tanks during the Second World War—not fighting on the front lines, but doing his bit in the factories to keep the war machine running so we could have a free country. He’d be turning in his grave right now. He fought (and worked) for an Australia where you could own something, build something, and pass it on—not this slow march toward the government owning everything through the tax system. This bill is Un-Australian to its core. Communism by Stealth – or Just Pure Economic Idiocy? Call it what you want: communism by stealth, class warfare dressed up as “fairness,” or the clueless ramblings of people who’ve never run a business or risked their own capital. This change—indexing the cost base for inflation while slapping a 30% minimum tax on real gains—will hammer investors, small business owners, farmers, and anyone with super or shares. It shows a complete lack of understanding of basic economics. Capital gains aren’t “unearned” income—they’re the reward for deferring consumption, taking risk, and allocating capital productively. Punish that, and you get less investment, less growth, lower wages, and fewer opportunities. Houses get more expensive for first-home buyers because supply dries up. Startups struggle to attract talent with equity. Retirees get squeezed. Is this intended to destroy our economy for nefarious reasons? Or is it driven by pure idiocy and ignorance? Either way, it’s a disgraceful tax. The government talks about housing affordability while making property investment less attractive and negative gearing changes that funnel money into new builds only. Brilliant—because nothing says “fix the housing crisis” like discouraging existing stock turnover and punishing mum-and-dad investors. Allow Me to Illustrate (in Fair Dinkum Terms) This is like the government looking at a successful Aussie who built wealth through hard yakka and saying, “Nice nest egg you’ve got there... it’d be a shame if inflation + our new rules ate most of it.” Or telling a farmer who held land for 30 years: “Congrats on the gain! We’ll index the dirt for CPI, but don’t forget the 30% floor so we still get our cut.” It’s the economic equivalent of your mate who borrows your ute, crashes it, then sends you a bill for the petrol he used on the way to the wreckers. We already have one of the highest marginal tax rates in the world combined with this. Now you’re effectively raising it further on capital. Genius. What’s next—taxing the air we breathe because it has “appreciated” in value? Conclusion and Urgent Request This rushed process is an insult to proper governance. Major tax reform deserves months of consultation, not a few days squeezed around a long weekend. I urge the Committee to recommend rejecting or significantly amending these CGT provisions. Protect the 50% discount, scrap the arbitrary 30% floor, and stop this attack on aspiration. Australians deserve better than being treated like cash cows for endless government spending. My grandfather’s generation built this country on freedom and opportunity—not envy and confiscation. I oppose this bill as you should all. Paul Victoria

He just can't help himself I 'respect' people he says Angry Albo exposed again This is why he hates social media The bloke is a compulsive liar Petty, spiteful, nasty and just keeps on getting caught God help Australia. This bitter twisted little person is destroying our country.

Meanwhile, Anthony Albanese has sold $5 million worth of 3 properties in recent years. If my stockbroker did that, he'd be done for insider trading. James Ashby. Little wonder why there has been a surge to One Nation. People have lost trust in the two party Canberra bubble political free-for-all.

BREAKING_NEWS ADVICE 🔥🔥🔥🔥🔥🔥🔥🔥🔥🚨🚨🚨🚨🚨🚨🚨🚨🚨 Next time someone claims Pauline Hanson is incapable of running the country, just show them these two videos of the Finance Minister from Albaneses government struggling to clearly explain or articulate even basic information at the Senate Estimates Committee. Vote Pauline Hanson One Nation.

Mandatory Loss Ordering : The Devious CGT Rule That DOUBLES Your Taxation As if it couldn't get any worse... An excellent article this morning in the AFR which explains that the Budget now imposes MANDATORY loss ordering of gains against losses. afr.com//wealth/person… What does that mean? It means effectively that the government is going to potentially confiscate half of your taxable loss under the new system because you MUST offset it FIRST against any gains from pre-2027 shares that had a 50% CGT discount. Confiscating half of your taxable loss means DOUBLING the tax on your gains. Again you are particularly screwed with your own portfolio of shares relative to an ETF. To explain: under the previous rules, capital losses could be applied against whichever capital gains produced the highest taxable income. The new CGT legislation forces losses to be applied against older gains first- typically gains eligible for the 50% CGT discount. This diminishes the value of capital losses because they are consumed against partially-taxable gains (because of the 50% discount) instead of fully-taxable gains, increasing tax payable despite no change in the underlying economic outcome. In the worst case it doubles your taxation. Doubles!!! That's a 100% increase in tax. I provide a worked example in the image. This rule is above and beyond all the other problems with the new CGT tax system. And it's hidden.... @DerekFranc90653 @cjoye @tax_oz

At 50% CGT rate, we will have CGT rates 147% higher than the world average, and 19% higher than 2nd place. The most outrageous policy ever. And they've lied about it too. This picture summarises everything you need to know about the new CGT rates: