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this post was submitted on 31 May 2026
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Australian Politics
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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?