Finally fixing capital gains tax is good – but linking it to another tax cut for Australia’s rich is bollocks | Greg Jericho

Comments

• hanrahan@slrpnk.net ⁨1⁩ ⁨day⁩ ago

  Fixing is a big claim, tweaking at the edges might be more accurate…but the entire tax system is not fit for service, so there is tat.

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• ryannathans@aussie.zone ⁨1⁩ ⁨day⁩ ago

  They better not be eliminating the discount entirely

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  • brisk@aussie.zone ⁨17⁩ ⁨hours⁩ ago

    I’d be surprised if they did, but curious what good you see in it?

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    • ryannathans@aussie.zone ⁨12⁩ ⁨hours⁩ ago

      A lot of people, especially those getting laid off by the thousand in tech at the moment, are paid in shares instead of cash

      These people already get double taxed, once essentially when the share rights vest and are exercised (e.g. years after they are awarded) they’re taxed as income at the current value despite not having been sold. Then taxed again when sold, as capital gains

      If you make a loss on your shares paid as income by the time they are sold, bad luck, you have to gamble on other stocks/assets and make a large win greater than your losses to ever see the tax back again

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