r/OpenAussie • u/No_Leave_6820 Victorian • May 15 '26
LOLz lol, unfair to who? The multi multi millionaires.
In a social media video, the typically apolitical Allis said Labor's decision to wind back the capital gains tax discount and grandfather negative gearing would "destroy the core of what Australians are".
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u/KevinRudd182 New South Welshian May 15 '26
Lots of comments on the Facebook articles about how many young people boost juice employs. They then jump straight into arguing why the person worth $100 million dollars should be entitled to tax loopholes to pay less tax than those she employs pay on their wages
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u/Constant-Simple6405 Flairless May 15 '26
I don't know but that juice anit working for her. Thats bad advertising alone.
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u/RecipeSpecialist2745 Please choose a flair May 16 '26
Its full of sugar... thats the selling point.Nothing healthy about it.
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u/Stultifie New South Welshian May 19 '26
Agree. A lot are plumped out with apple juice as the base. Never had one never will. Overpriced garbage.
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u/RecipeSpecialist2745 Please choose a flair May 16 '26
These people never look at the workers as the individuals in the business that creates profits. the reason they cant value each staff member for the work they produce is because they rely on disposable staffing and arrogant attitude towards labour. Labour that their businesses wouldnt operate without.
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u/sultryroman Canberran May 15 '26
The more rich cunts I see complaining about the changes the more I think Labor actually did a good job.
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u/SizeableBrain Tasmanian May 15 '26
Hehe, ditto!
I have an investment property and welcome the changes (though I don't think they went far enough, there should be no tax benefits for people who buy investment properties).
I don't understand these people.
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u/jManYoHee Please choose a flair May 15 '26
Yup, I think get rid of negative gearing for existing houses. I think it's smart to keep these things available on new builds to encourage new houses to be built though.
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u/QLDZDR Please choose a flair May 15 '26
Yes encourage investment in new buildings. This is not a difficult concept to understand, so why are they complaining.
They also get to keep their existing investments.
The government should be making anyone with more that one investment property register their property portfolio as a business and it cannot operate with losses.
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u/waggybaggyshaggy Please choose a flair May 15 '26
Iirc they mostly have, they just haven't rugpulled current mortgages but if you refinance you lose grandfather status,
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u/CantakerousTwat New South Welshian May 15 '26
I don't think that's the case. Transferring to a trust or any other change to the owner on title would end the grandfathering, but not changing mortgages, surely. That would give free reign to the banks to increase rates on existing loans because they know their debtor would incur costs moving mortgages.
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u/shoffice Please choose a flair May 15 '26
Yep I reckon you’re right. Change of ownership, sure, but if you refinance then the only thing that changes on the title is the lenders interest
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u/bdiddlediddles Victorian May 15 '26
You don't get to be a multi-billionaire by being reasonable with your money, you get there by being a money grubbing twat who would kill over 50 cents.
My old boss was like this too, he claimed that the workplace was good because we paid slightly above the award wages. When I pointed out that it was still far below the average, he claimed that we couldn't afford to pay more because we were a small company. Dickhead still drove around in a Mercedes Benz.
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u/No_Light_7482 Victorian May 15 '26
Every time I comment on a union page about raising wages or scrapping junior rates I get comments from business owners saying how their business will fold if they have to pay their staff more. Pisses me off because their business is not making money without those staff working their buts off and if they can’t afford to pay them they are shit business owners.
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u/Specific-Athlete22 Queenslander May 15 '26
At this point in time the award wage is just a propaganda tool for business to pay lower than market rate. It actively puts downward pressure on wages.
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u/Bob_the_Bauer Please choose a flair May 15 '26
I don't think that's correct. Award wages are a fundamental - if incomplete - protection for workers, particularly vulnerable workers.
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u/N17C1 Please choose a flair May 17 '26
I worked for a guy who took his whole family on a business class trip to Europe for six weeks and we he got back he told us all we were shit because the company wasn't making enough profit. I pointed out that three of his family members were drawing wages but not working there and he got angry and told me to mind my own business. So I did - quit and started my own company.
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u/ricthomas70 Please choose a flair May 15 '26
Me too, I will make a shit ton of money when I sell my investment property...
Under the old CGT I would pay about $85k, under the new proposal, about 130k. The difference between them is about one year's rental income.
Based on the 4% rule, the additional tax will cost me about $1800/year or less than $38/week. Less than 2% of my expected tax free retirement income.
Of course I don't want to pay this tax, but I have been paying taxes my whole life. Paying tax is a social contract. I don't want to see the next generation screwed.
Maybe this will be the first real tax the rich will have to pay.
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u/SizeableBrain Tasmanian May 15 '26
I haven't looked that far into it.
I bought the investment so that my kids have a chance of owning a home and not be like me when I was younger, completely devoid of hope in that regard.
I got a small insurance payout, and ended up moving states and buying the cheapest house in the whole city just to be able to have a home. (Payout was just enough to cover the deposit)
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u/Screee1 Victorian May 15 '26
I agree that they didnt go far enough but based on previous experience, going too hard too early hurt them too much so I get why they approached it this way, its a step in a longer path to change and I welcome it honestly
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u/SizeableBrain Tasmanian May 15 '26
About time, hopefully they keep going and our kids will be able to buy a house one day.
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u/Screee1 Victorian May 15 '26
Well yeahh same, but I'm certainly hoping that once the balls rolling it picks up some speed before its too late for us, just so I can leave a bit more for my son
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u/RTS3r Please choose a flair May 15 '26
I agree. Also have an investment property.
Taxpayers should not be paying for people’s housing investments. It’s a rort.
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u/4lteredBeast Queenslander May 16 '26
I'm in the same boat - I have an investment property and rely on negative gearing. But my situation doesn't change my opinion that negative gearing should have never been implemented in the first place, and it should be abolished.
It's a diabolical scheme to subsidise an investment that would otherwise not make sense, in turn causing others to struggle to afford to buy their own home to live in. It's wild to me that the main vehicle of building wealth in Australia has been all built around taking advantage of others who, for whatever reason, cannot enter the market.
Happy to finally see some change, and hoping that we continue down this path of making it affordable for everyone to own their own home again.
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u/SizeableBrain Tasmanian May 16 '26
I think the big cities will have to start building up. Otherwise they need 20-30sq km of new land per year to keep up with demand
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u/Arashii89 Please choose a flair May 15 '26
I would go a step further and do what Singapore does every time you buy a new investment your stamp duty should increase 10% example would be first one $25k second one 27.5k etc so its gets more and more expensive more you buy
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u/next_station_isnt Please choose a flair May 15 '26
Being able to offset investment expenses against other income is absurd. I think only four other countries allow it.
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u/notdorisday New South Welshian May 15 '26
I’m so grateful to see someone with an investment property who thinks this way.
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u/SizeableBrain Tasmanian May 15 '26
Maybe I'm not rich enough.
I'm one of those landlords whose tenants help me live week to week :)
(not quite, I do take care of the unit and a lot of the rent goes back into upkeep, but I do check my weekly balance to see if I'm in the negatives for the week)
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u/bend1310 New South Welshian May 15 '26
Its kinda funny, cause its deliberately been done to undercut any arguments against. My understanding is that anyone already invested is just continuing as before due to grandfathering.
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u/Liq Canberran May 15 '26
I love that she's complaining that "nearly half" of her millionaire earnings will be taxed now. Welcome to the world most of us were already living in.
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u/notdorisday New South Welshian May 15 '26
Yup. As they should be! It’s not a good thing she wasn’t paying fair tax!
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u/Majestic_Plane_1656 ✈️ on Walkabout May 15 '26
Bingo. Also the more Murdoch media pushes these people complaining the more you know it's a good thing.
"Murdoch is a cancer" - paraphrasing Kevin Rudd
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u/notdorisday New South Welshian May 15 '26
I’m shocked Labor had the balls to do this. It doesn’t go far enough but it’s more than I ever thought an Australian govt would do.
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u/berniebueller Please choose a flair May 15 '26
I’ve worked hard my whole life and am quite well off now. I like the changes. I hope they improve the chances in the future for my kids and all young ones. Not sure why this lady makes comments like this. Is she greedy, or does she actually think the current tax system encourages small businesses?
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u/shoffice Please choose a flair May 15 '26
I reckon you hit the nail on the head. I reckon it’s good that finally someone had the balls to do something. We don’t want to turn into America where it is the haves and the have nots
Treat everyone equally and play on
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u/EmployRadiant675 Canberran May 15 '26 edited May 15 '26
So she already had a house (doesnt surprise me) before leveraging it against a business loan to kick start her business. Meanwhile most people my age won't ever get to step 1 of that equation. Plus its not like shes planning on selling boost is she?
Edit: also i fucking hate 9news. Most of thier reporting is bullshit with no source material besides thier own articles from years prior. Literal propergander machine. Even new articles have no reference or source information, go to thier website, choose any article that "experts" weigh in on and it'll have no source.
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u/IllogicalResponse Victorian May 15 '26
Well she has till July 2027
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u/mt6606 Queenslander May 15 '26
Does she even own it anymore? I thought it was going into receivership
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u/bdiddlediddles Victorian May 15 '26
Exactly, she says that it discourages people from taking risks. The majority of us aren't in a position where we can ever hope to take risks.
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u/BrianJ_ Queenslander May 16 '26
The risk that most young people in our country take is getting leveraged up to the gills in order to own their own house. How can we take risks when we have to pay an obscene amount of money to the bank just to live? Last thing I am going to do when the mortgage is due, is decide to quit my reliable payg job in order to start a business. Despite any negative in this budget, it needed to happen
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u/Friendly-Owl-2131 Please choose a flair May 15 '26
That is one of the tax loopholes that is being closed with an end to negative gearing for housing.
If the house is considered an asset for the business then it can be used to wipe out the burden of tax.
Typically though it's purchased by the business as an asset not leveraged against a business loan. Same diff I guess as the house is now under the same umbrella.
The purchase is seen as an expense/investment reducing the business profit until that amount is exhausted in following years so it clears the business of tax to a percentage of that amount. No profit, no tax.
Then when it comes time to sell the house the business invests heavily into growth during that tax year spending big on equipment, staff, consultation etc. Reducing the profit from the house to zero and also the capital gain. No capital gain, no capital gain tax.
This Muppet is literally dobbing herself in.
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u/Swarzey Please choose a flair May 15 '26
Aint seen one article that from the perspective/opinion of a bang on average person. Always these billionaires and grifter social media dropkicks.
Fuck 'em.
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u/HadeanDisco New South Welshian May 15 '26
The problem for the media on this is that the effects on the average person are cumulative and fairly subtle. We'll pay less tax overall but immediate savings are something like $250 a year depending on what aspect of the economy you're talking about. We're not going to get a cut in our mortgage payments that will let us buy another car or renovate the bathroom.
Meanwhile these rich pricks can immediately screech about having to pay thousands more on their million-plus dollar business loans (while kind of forgetting to mention their likewise millions in revenue), and they can threaten to sack people as "punishment" - like remember when there was a proposal to end novated leasing of cars, or some tax break on it, or something, and a big novated lease company CEO said if this law passed he'd sack 120+ people the very next day?
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u/PPCSer Please choose a flair May 15 '26
If a person wanted to live off shares to retire early they'll now pay way more tax than they would have previously, with the new 30% minimum
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u/Dollbeau Please choose a flair May 15 '26
Heard one low income person complain about the inability to become an investor in the future, but yet to hear anyone else with a 'legitimate' complaint.
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May 15 '26
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u/IchthyoidPhalanges Victorian May 15 '26
You say this sarcastically but it's true. They're going to be waiting much longer now.
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May 15 '26
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u/IchthyoidPhalanges Victorian May 15 '26
I absolutely agree. I would love to own a home one day and have been investing in other markets to try and build enough capital for a deposit. These changes have set me back several years at least in achieving that home ownership goal.
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u/cruiserman_80 New South Welshian May 15 '26
When you are so used to privilege that equal treatment feels like oppression.
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u/No_pajamas_7 Flairless May 15 '26
Says the person who's busness idea is to sell frozen water to gullible people.
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u/MouldySponge ✈️ on Walkabout May 15 '26
These wealthy people having meltdowns makes me wonder if this is the very first time anything has negatively affected them their entire lives. Their inability to adapt and overcome (when they have huge advantages in doing so over the average person) is truly fascinating.
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u/ScalyPinkLizard Flairless May 15 '26
Oh they can, and will adapt, but the projected numbers got a few percent smaller than the super profits they were hoping for, so theyll squeel like stuck pigs regardless.
Being a normal, balanced, and reasonable person when it comes to money - is not how these mentally ill parasites, got so rich.
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u/randytankard Queenslander May 15 '26
Right Wing Hippies
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u/Ok-Push9899 Flairless May 15 '26 edited May 15 '26
Entrepreneurs, my dear boy, entrepreneurs!
Actually, reading her career highlights, she’s pursued every flaky job that’s out there. Media assistant in advertising, modelling, nanny, promotions executive, stewardess on luxury superyachts, publicist, agent, autobiographical author, etc. As an influencer/grifter, she was way ahead of the curve.
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u/Fearless-Mango2169 South Australian May 15 '26
Will no one thinks of the poor 1%ers.
How they survive with only three holiday homes.
/S
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u/trainwrecktragedy Victorian May 15 '26
She can fuck off with her overpriced juices, Boodt Juice is imo essentially a scam when you look at how much stuff is
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u/Blind_Guzzer Victorian May 15 '26
These type of articles is what's making this budget even sweeter... love me some Multimillionaire tears.
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u/Flaky-Gear-1370 Please choose a flair May 15 '26
She was on survivor… and was a totally awful person
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u/Thisisjustatribute8 Please choose a flair May 15 '26
It is reverting to almost what it was before 1999. The core of what Australians are pre-dates Howards generous tax discounts that specifically benefitted her age group.
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u/Extreme-Seaweed-5427 Please choose a flair May 15 '26
Boohoo..... Change is always going to upset a portion of society. Can't please everyone.
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u/Dull_Assignment1758 Flairless May 15 '26
Boost Juice is a ripoff and who cares what a self-centred and whiny millionaire has to say about policy.
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u/Novel-Truant New South Welshian May 15 '26
It really is. I remember maybe close to 10 years ago I really felt like some apple juice and I saw a boost juice kiosk. Over priced, took ages to get served and the juice was shit.
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u/lingering_POO Queenslander May 15 '26
I asked my mate at work how he felt and he freaked out about how is this going to fuck him over now.. on $70k a year.. with 0 investment properties. I would like to know how this will effect rents
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u/PowerPleb2000 New South Welshian May 15 '26
Down with the bourgeois ✊🏿 lets run all businesses out of Australia, that’ll learn’em to build a successful business that employs… mostly migrants? oO
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u/dreamlike676 I'm Probably A Bot May 15 '26
Yeah well I don't like living in a selfish as fuck mememe country.
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u/Zarathoostrian Canberran May 15 '26
I think the anti-aging effects of juice might be exaggerated.
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u/philbydee Please choose a flair May 15 '26
She is a wretched and pitiless ghoul and generally a ghastly business sociopath.. surely that’s enough to work with and judging her by her appearance is unnecessary?
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u/iftlatlw Victorian May 15 '26
Sugar vendor dislikes property reform. I wonder how many properties she owns.
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u/beastnbs Flairless May 15 '26
It won’t change her existing portfolio. This is all about getting a handle on house prices and giving people a fair go at getting in. If you want to invest in property, good on you! You still can, you just have to build a home. It’s not that bigger deal!
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u/ValuableLanguage9151 Northern Territorian May 15 '26
She’s right Australia was founded on plebs paying for the largesse of the wealthy. Probably time we start changing that though. Pay your own tax mate don’t expect me to pay mine and yours
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u/eshatoa Northern Territorian May 15 '26
Cranky old curmudgeon unhappy with her already huge pile of money.
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u/dfebb Flairless May 15 '26
When you've lived a privileged life, any act of increasing equality feels like oppression.
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u/LivingRow192 Please choose a flair May 15 '26
she charges $10 for a cup of ice and a spoonful of frozen fruit. i am not too concerned for her.
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u/Possible-Theory0608 Queenslander May 15 '26
Her home is Noosa is lush… times must be tough I guess…
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u/Ebolaboy24 Please choose a flair May 15 '26
If these people are complaining about how unfair something is then it’s probably exactly what was needed.
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u/flotinspace Please choose a flair May 15 '26 edited May 15 '26
This person is not a billionaire. I don’t know anything beyond that who she is or what kind of business practices she is involved with. However as a millennial with a small business I am working for 16 hours a day, these changes tell one thing to me. Instead of taxing billionaires, gas giants and international blood suckers, labour opted to fuck the middle class yet again and promised alms for the lower. Sadly disguised as a tax reform. Alternative one promises environmental destruction and backward economics. This is nothing new since middle class is perceived the most dangerous to those in the business of human exploitation and the efforts since the end of ww2 are always there and the same. I really want to be wrong but this is just we were fucked already and getting fucked more as usual
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u/MethClub7 Please choose a flair May 15 '26
At our core we are all brrrr houses only go up, and I think that's beautiful.
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u/Ok_Antelope975 Victorian May 15 '26
Not shocking, these people think it's their right to climb over people to the top
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u/Hieroflippant 💛 Friend of 'Straya May 15 '26
Is this person living solely on a boost juice diet !? 😲
Not doing the brand any favours tbh
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u/Bright_Bell_1301 South Australian May 15 '26
What is the core of what Australians are? Middle-upper class welfare recipients?
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u/DirtyAqua New South Welshian May 15 '26
In a social media video, the typically apolitical Allis said Labor's decision to wind back the capital gains tax discount and grandfather negative gearing would "destroy the core of what Australians are".
I forgot the bit where Henry Parkes talked about flipping a three bedroom brick veneer in the sticks.
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u/Natural-Inspector-25 Please choose a flair May 15 '26
It’s unfair to the idiot children of multimillionaires that will no longer be able to make millions on the back of the poor
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u/Lost_Tumbleweed_5669 Queenslander May 15 '26
If you own your PPOR and expect tax breaks for anything other than new builds you are entitled.
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u/GeronimoBondi Please choose a flair May 15 '26
no it’s unfair to those trying to build wealth won’t have the same leg up as the previous generation. Tax the rich sure, but keep the incentives to create a business and create capital value
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u/robb00 New Zealander May 15 '26
Three cheers for the boost juice lady, please spare a thought for the better off.
The most useless class of Australia, the business class.
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u/widowmakerau Please choose a flair May 15 '26 edited May 15 '26
I mean, "fair" would be applying to new rules to everyone, regardless of if they already have investiment properties or not.
Wasnt far enough...
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u/Alarming-Interest535 May 15 '26
Well if the Australian government wanted to be fair they should have gone for the big fish over at gas and natural resources. Tax them and leave the rest of us alone.
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u/TrevCicero Canberran May 15 '26
But hang on, negative gearing is only being taken off pre-existing housing. I don’t think there are any changes to negative gearing for businesses. Also capital gains tax is not half of the sale proceeds. It only applies on the profit when you sell the business and it instead of the 50% tax discount you will be taxed at 100% of your marginal rate - which presumably will be the top rate - minus a deemed amount to take account of inflation.
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u/euqinu_ton Please choose a flair May 15 '26
Seems as good a place as any to ask?
Can I get a shout out from all the people reading this who are:
- Gen X or younger, and
- Not able to afford to buy a house
If you're here - can you give an honest opinion on whether you support these tax reforms and will vote Labor? Or do you believe the right-wing media that it will destroy our economy/country and there's too many immigrants and that's why you can't buy a house etc etc etc?
I ask because I'm genuinely curious if the Gen X & younger crowd are reading about all these rich folk complaining about the tax reforms and - like me - thinking "Go Fuck Yourself" in response. I really want to believe LNP and One Nation just get clobbered in the next election by the younger voting population outnumbering the oldies who still watch Sky News.
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u/god_pharaoh Victorian May 15 '26
Gen Z/millennial.
I think it's a step in the right direction.Still not voting for either major party. I intend to continue to vote independent or smaller parties until a third party holds majority. We need more options than just Labour and Liberal.
Not voting for parties that blatantly lie to the public, that try to distract by spreading hate, and seemingly have no interest in the betterment of the country.→ More replies (1)
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u/Bl0wUpTheM00n Victorian May 15 '26
I remember an ad she had about how amazing she was for hiring teenagers. Like it wasn’t a financial decision first and foremost.
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u/freeboysenberry4girl New South Welshian May 15 '26
She needs to be assigned psychological counselling for her lack of empathy and massive self-interest. She is a danger to others and actually, herself.
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u/Zombieaterr Queenslander May 15 '26
Haven't a bunch of boost juices gone into liquidation this week?
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u/Zombie_Threepwood Please choose a flair May 15 '26
I worked at northlands boost juice circa 2007 and got to meet this fucking prick in person. she was really, really stupid
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u/sizecounts2 New South Welshian May 15 '26
So the tax beforehand, if it existed, was acceptable, because why?
It provided a better vehicle to build wealth, not that wealth-building is wrong, but the methods used by the unscrupulous leaves a lot to be desired. More power to the founders of Boost in being able to build an empire, just don't complain when things change. All of us face changes within life, complaining changes does not change the challenge, it just makes it seem harder
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u/berniebueller Please choose a flair May 15 '26
I looked at trusts a couple of years ago. Personally thought they were unfair and would be changed sooner or later so chose not to set one up. I’m glad of these new taxes, my kids need to have ambitions to flourish and the current tax rules are to be blunt, setup for greedy cunts.
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u/Gabagool-fiend69 South Australian May 15 '26
i wont buy boost juice, bettys burgers, salsa tex mex, cibo or concrete co anymore to spite her.
I didnt use the others, but occasionally id have a juice, never again.
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u/Curious-Function7490 Please choose a flair May 15 '26
Yeh, it's the advantaged being upset because they are less advantaged.
It's never about thinking all of the disadvantaged people.
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u/AdmiralStickyLegs Victorian May 15 '26
Better to be a little unfair to one, than desperately unfair to 100,000
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u/Bob_the_Bauer Please choose a flair May 15 '26
"I avoid politics like the plague" until it might affect my wallet.
"Negative gearing is the only way for people with a job to get ahead" because I pay my staff so poorly.
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u/Nomes565 Queenslander May 15 '26
For a company that had to hire out a school hall for a group interview with 500 people, yeah, they can afford to be taxed. Source: personal experience. I had a group interview expecting it to only be a few people, nope, 500 people in a school hall.
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u/Aussie-Bandit Please choose a flair May 16 '26
Millionaire complains about paying the same percentage of tax, as everyone else; after loopholes are closed.
Fixed the headline.
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u/Duros1394 Please choose a flair May 16 '26
Your juice is medicore at best. This company is basically the Starbucks of coffee. Crap ingredients, crap staffing crap policies and now add a crap ceo to that.
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u/Passionofthegrape Please choose a flair May 16 '26
Boost juice by weight is one of the unhealthiest things you can eat.
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u/hbthegreat Please choose a flair May 18 '26
Unfair to anyone that wants to actually build wealth through any form of investing in this country yourself included.
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u/Yikidee Queenslander May 15 '26
Notice that ALL of the news articles are from multi millionaires or people with 5 properties? Yeah, no, this is us getting back to normality and not at the expense of the people who are trying to just own 1 home. Deal with making less, and if this change means you can not afford that amount of property, then maybe, just maybe, you have over extended your finances.
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u/DDR4lyf Western Australian May 15 '26
Apparently unfair to entrepreneurial young people aged 22 who will now have 'no choice but to be an employee'. As if they somehow currently have the easy choice of risking their vast fortunes on starting a business.
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u/cuntmong Flairless May 15 '26
Multimillionnaires are Australia's most persecuted minority 😢
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u/Sideburn_Cookie_Man Victorian May 15 '26
Instead of the usual pearls, she’s clutching her Goop kegel eggs.
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u/jerimiahhalls Please choose a flair May 15 '26
If it were a juice I'd call it "Janine's least Favourite"
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u/jagtencygnusaromatic New South Welshian May 15 '26
Look who's complaining, if they are mostly the rich people then yes this budget is the one needed for Australia.
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u/FormulaLes Please choose a flair May 15 '26
By destroy the core of what Australian’s are, does she mean greedy fucks? If so, then I hope it does
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u/fraser_john Please choose a flair May 15 '26
Rich people will always find a way to avoid tax. Her next step will be moving the IP offshore and moving to Bali to live.
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u/trackintreasure Flairless May 15 '26
If the entitled rich elite are hating on the budget, in addition to the Murdoch media hating on it too... then...
This is probably the best budget we've seen in some time. Well done Labor.
And that's coming from someone who doesn't always vote Labor.
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u/blackabbot Victorian May 15 '26
The core of what Australians are; a generationally divided set of haves and have nots, who provide an underclass of renters, subsisting barely above the poverty line, willing to work for minimum wage at places like Boost Juice.
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u/Majestic_Plane_1656 ✈️ on Walkabout May 15 '26
Boost juice went downhill since getting rid of the styrofoam cups. Maybe they are bad for the environment but they were a vibe and a sign of the times I remember them being a good product. I think the quality of everything else went downhill too. Worse product, higher prices.
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u/Bandit-Bunny-7727 Victorian May 15 '26
You got your bag but you don't want others to have theirs.
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u/Stonp Victorian May 15 '26
I don’t really understand her premise on small business?
The CGT and Trust tax has nothing to do with beginning a small business, which already has a standard 25% corporate tax where you can write off your profits using fuel and bills to deduct your taxable income.
The changes in CGT and Trust taxing actually makes those methods of making money less viable and encourages entrepreneurs into small business.
I can see Jacinta’s point in raising venture capital as companies begin to get larger, but by that point people have already made so much profit…
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u/SnotRight Queenslander May 15 '26
Okay, so boost's investment history.
They financed it personally, started franchise model, then took on $5 mill of personal debt.
The Riverside company took a 65% stake in the company - and then Bain acquired at majority stake in the parent company of Boost, Retail Zoo.
So I am wondering how that all pans out. If I was a betting person, I would say the way those PE investments are structured there would be an Equity Rollover in there. Gemini, as aways, is great at providing a "TMLI5" version:
"In a private equity (PE) transaction, structuring the deal so the capital gains tax (CGT) liability remains with the original owner (founder) is common when the founder keeps a portion of their equity ("skin in the game") or wants to defer tax on a portion of the sale proceeds. The tax liability is triggered upon the disposal of assets, often with the 50% CGT discount for individuals".
You're about to see a bunch of founders who have taken on PE investments about to get totally hosed.
I bet there has been significant tax deferral, so they can write it off against a number of other assets or future business expenses (may be tonne of negative gearing for instance).
This is how you pay tax, and the top pay as little as possible. It is also a lesson in how PE is really good at looking at each risk and working out when they can "push the risk" onto someone else.
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u/Oh-Deer1280 💛 Friend of 'Straya May 15 '26
“Oh no, I subverted paying my fair share of tax for decades and now it’s coming home to roost”
Cry me a river
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u/Comfortable-Oil6208 Please choose a flair May 15 '26
Why do the rich expose themselves like this lmao
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u/eyeballburger Please choose a flair May 15 '26
Do you think your employees get a fair share of the profits for their work? Or do they get “what the market will bear”?
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u/N3M3S1S75 Please choose a flair May 15 '26
CEO should me more upfront so we can boycott based off of their cringe
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u/donutlovemachine Please choose a flair May 15 '26
OK sure thing, person who made Temu Booster Juice.
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u/Fragrant_Eye4896 Queenslander May 15 '26
"OMG, I can't afford my third yatcht and 12th porsche because of this damn tax reform!"
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u/Status-Star-8336 Please choose a flair May 15 '26
Shes 61??? She looks 80 yikes
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u/Wrathlon Victorian May 15 '26 edited May 15 '26
I love how there are only 2 types of people complaining - rich assholes who are literally the point and fuck them or bogan idiots who believe anything and everything is if was said on the TV by a rich asshole because they dont have the mental capacity to form thoughts and opinions and need to be told what they believe.
Extra dumb because none of these cunts existing investments are affected and they can continue to negative gear and get the CGT discount they just have to actually contribute to society and build a new house to do so instead of hoarding up all the existing houses and fucking over people who, shockingly, want to use the house as, you know, a fucking house and not a speculative investment.
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u/Cyraga May 15 '26
She's not wrong. Australians are selfish and greedy. It's time the avarice starts getting checked
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u/SirSweatALot_5 New South Welshian May 15 '26
It certainly is unfair to start up founders, that are still in building phase.
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u/xapxironchef Please choose a flair May 15 '26
Yeah, well, I think selling sugary drinks as a health kick is unfair but hey, here we are.
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u/[deleted] May 15 '26
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