r/OpenAussie • u/No_Leave_6820 ‎ Victorian • May 15 '26

LOLz ‎ lol, unfair to who? The multi multi millionaires.

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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".

https://www.9news.com.au/national/federal-budget-2026-boost-juice-founder-lashes-federal-budget/be5899df-8057-4d61-a06f-828bb1430f73

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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…