Alex M said:

Seems like Fear of missing out has been replaced by fear of paying too much.

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Most definitely. My parents are going to move into my nan's place after putting in extensions and renovating and the previous family home had gone from should be sold to might be sold. Just middle class who worked so hard and have benefited from the market jump but also the annoyance of selling for a bit less.

People who've owned for years and have a high value property with a viable alternative should take a small hit as they're still way ahead.

Was on the Gold Coast and old mate burning hundreds on roulette was moaning to the dealer about CGT when he bought the place for a Mars bar and chocolate button in 1977.

JS96 said:

Was on the Gold Coast and old mate burning hundreds on roulette was moaning to the dealer about CGT when he bought the place for a Mars bar and chocolate button in 1977.

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Old mate had an asett that was previously cgt exempt (provided its an investment property and not his home). Now he will have to pay for a valuation on it and pay a small amount of tax on any gain earned from July 1 2027. Hopefully the valuation cost is claimable against something, either the income from the year or added to the capital value.

Alex M said:

Old mate had an asett that was previously cgt exempt (provided its an investment property and not his home). Now he will have to pay for a valuation on it and pay a small amount of tax on any gain earned from July 1 2027. Hopefully the valuation cost is claimable against something, either the income from the year or added to the capital value.

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Has the government actually stated what the situation with pre-1983 assets is under their proposed new CGT regime? Pre-83 assets are currently exempt from any CGT.

Keeper66 said:

Has the government actually stated what the situation with pre-1983 assets is under their proposed new CGT regime? Pre-83 assets are currently exempt from any CGT.

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Yes it was announced in the budget. It's actually pre 85 assetts that are now covered but only starting on July 1 2027. Any gain up to that point remains tax free.

Employment Minister Amanda Rishworth has dismissed criticism of Australia’s capital gains tax after New Zealand Prime Minister Christopher Luxon spectacularly claimed it was “a wrecking ball tax” he would never introduce.

Treasurer Jim Chalmers has a catch-cry when he is in spin mode — which is just about all the time — to describe passing political events as “a good thing”.

A DiDi rideshare driver was charged with kidnapping and sexually assaulting a 17-year-old girl. Now his visa history has come to light.

Alex M said:

Yes it was announced in the budget. It's actually pre 85 assetts that are now covered but only starting on July 1 2027. Any gain up to that point remains tax free.

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Sorry, yes it was 1985. Thanks for replying.

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Sharkman84 said:

A DiDi rideshare driver was charged with kidnapping and sexually assaulting a 17-year-old girl. Now his visa history has come to light.

Shock update in DiDi driver sexual assault case

A DiDi rideshare driver was charged with kidnapping and sexually assaulting a 17-year-old girl. Now his visa history has come to light.

thenightly.com.au

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Without sounding like a "leftie-simp" and turning the entire situation into one of these culture-war talking points.....


When a horrific crime like this occurs, the public conversation naturally spikes, and the immediate impulse is to look for a single point of failure whether that’s the gig economy platforms, the immigration department, or the tribunal system. The reality, is that we are looking at a complex intersection of multiple systems, none of which are completely airtight.

This kind of crime highlights critical gaps in the system – Fixing this requires operational tightening and strict platform accountability, but not political polarisation.

If this exact scenario happened in the UK, it would be a tailor-made, front-page moment for Nigel Farage and Reform UK to dominate the news cycle.

I think Australia’s political climate handles these flashpoints differently. Instead of a single "firebrand" taking over the mic, it's usually a more considered response. Australians generally have a low tolerance for the theatrical!!!

Football us life said:

0

Without sounding like a "leftie-simp" and turning the entire situation into one of these culture-war talking points.....


When a horrific crime like this occurs, the public conversation naturally spikes, and the immediate impulse is to look for a single point of failure whether that’s the gig economy platforms, the immigration department, or the tribunal system. The reality, is that we are looking at a complex intersection of multiple systems, none of which are completely airtight.

This kind of crime highlights critical gaps in the system – Fixing this requires operational tightening and strict platform accountability, but not political polarisation.

If this exact scenario happened in the UK, it would be a tailor-made, front-page moment for Nigel Farage and Reform UK to dominate the news cycle.

I think Australia’s political climate handles these flashpoints differently. Instead of a single "firebrand" taking over the mic, it's usually a more considered response. Australians generally have a low tolerance for the theatrical!!!

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What I hate is, try to start any type of business and the regulations strangle you. These rider apps and places like airbnb seem to circumvent any stringent requirements while the authorities are playing catch up. Ill paint the word taxi on the side of my car and turn my second home into a hotel. My booking portal? Whatsapp!

JS96 said:

What I hate is, try to start any type of business and the regulations strangle you. These rider apps and places like airbnb seem to circumvent any stringent requirements while the authorities are playing catch up. Ill paint the word taxi on the side of my car and turn my second home into a hotel. My booking portal? Whatsapp!

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No, I'm not mad about the 'gig economy' myself. Rarely use uber or any of the other stuff....

Sharkman84 said:

Employment Minister Amanda Rishworth has dismissed criticism of Australia’s capital gains tax after New Zealand Prime Minister Christopher Luxon spectacularly claimed it was “a wrecking ball tax” he would never introduce.

Labor responds to NZ ‘wrecking ball’ tax swipe

A leading Labor minister has responded after New Zealand Prime Minister Christopher Luxon claimed the CGT was a ‘wrecking ball tax’.

thenightly.com.au

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They basically have one already - If you buy shares, crypto, or property with the primary intention of selling them for a profit (rather than holding them for long-term dividends or use), those profits are treated as regular income and are subject to income tax.

Sharkman84 said:

Treasurer Jim Chalmers has a catch-cry when he is in spin mode — which is just about all the time — to describe passing political events as “a good thing”.

Treasurer’s Budget lament: Good thing, where have you gone?

Treasurer Jim Chalmers has a catch-cry when he is in spin mode — which is just about all the time — to describe passing political events as ‘a good thing’.

thenightly.com.au

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Fucking hell I knew Paul Murray was a moron, but that article was something else.

Football us life said:

When it comes to highly emphasising political/ecological ideologies like the push for renewables and the pursuit of "Net Zero" I'm generally in favour of progress..

However whichever way you look at it global net zero by 2050 looks impossible. Renewables struggle with intermittency, grids, materials, and scale. Historical transitions took decades meaning this requires unprecedented acceleration and is highly unlikely without major technological breakthroughs.

Pragmatic progress on tech, nuclear, and adaptation beats performative timelines trotted out by policymakers....

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Net zero in Australia, or something extremely close to it, doesn't look impossible at all.

All of the issues you've identified are solvable problems because of the extreme cost-reduction in battery technology. Australia's grid is almost 50% renewables now and that percentage is increasing at about 5% a year, so by the mid-2030s we'll be almost there. EVs are now more or less at price parity with ICE vehicles as well.

It’s a political football. It’s also the only thing saving us from economic oblivion.

EDITORIAL: A flat economy, low growth and the spectre of a per capita recession is weighing heavily on the minds of hardworking Australians.

Toebash said:

Net zero in Australia, or something extremely close to it, doesn't look impossible at all.

All of the issues you've identified are solvable problems because of the extreme cost-reduction in battery technology. Australia's grid is almost 50% renewables now and that percentage is increasing at about 5% a year, so by the mid-2030s we'll be almost there. EVs are now more or less at price parity with ICE vehicles as well.

Click to expand...

Toebash said:

Net zero in Australia, or something extremely close to it, doesn't look impossible at all.

All of the issues you've identified are solvable problems because of the extreme cost-reduction in battery technology. Australia's grid is almost 50% renewables now and that percentage is increasing at about 5% a year, so by the mid-2030s we'll be almost there. EVs are now more or less at price parity with ICE vehicles as well.

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I did say global...


Expecting a total global overhaul in just a few decades is asking for a historical anomaly. The bottlenecks I mentioned (grid infrastructure, critical mineral shortages, and the physics of intermittency) have very real, very physical limits.

But also....

Australia is the ultimate litmus test for my argument. It is simultaneously the poster child for both the staggering potential of renewables and the brutal reality of physical bottlenecks.....

Australia has one of the longest, thinnest, and most isolated power grids in the world. From FNQ down to Tasmania and across to South Australia. Known as the 'National Electricity Market' - one of the most complex, volatile, and geographically sprawling electrical markets on Earth.

So I think perhaps that Australia perfectly captures the paradox. If you look at the generation technology (solar panels and batteries), the pace is moving faster than anyone imagined a decade ago. And thats fantastic for the pro-renewables side of the argument ....

But if you look at the civil engineering and human factors (digging holes, stringing 1,000 kilometers of wire, finding sparkies, and navigating local politics), the brakes are firmly pressed.....

I'm all for renewable energy infrastructure investment and everything else moving towards the Net Zero emissions targets but Im sceptical about how it's going to be done!

Amd while he physical and technical hurdles of the energy transition are massive, the political reasoning is arguably the most complex gridlock of all. In Australia, energy policy isn't just about engineering; it is a highly polarised, deeply emotional political battlefield.

One Nation.and its polling number of 31% is a case in point!

Football us life said:

I did say global...


Expecting a total global overhaul in just a few decades is asking for a historical anomaly. The bottlenecks I mentioned (grid infrastructure, critical mineral shortages, and the physics of intermittency) have very real, very physical limits.

But also....

Australia is the ultimate litmus test for my argument. It is simultaneously the poster child for both the staggering potential of renewables and the brutal reality of physical bottlenecks.....

Australia has one of the longest, thinnest, and most isolated power grids in the world. From FNQ down to Tasmania and across to South Australia. Known as the 'National Electricity Market' - one of the most complex, volatile, and geographically sprawling electrical markets on Earth.

So I think perhaps that Australia perfectly captures the paradox. If you look at the generation technology (solar panels and batteries), the pace is moving faster than anyone imagined a decade ago. And thats fantastic for the pro-renewables side of the argument ....

But if you look at the civil engineering and human factors (digging holes, stringing 1,000 kilometers of wire, finding sparkies, and navigating local politics), the brakes are firmly pressed.....

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BANG ON.........

Football us life said:

I'm all for renewable energy infrastructure investment and everything else moving towards the Net Zero emissions targets but Im sceptical about how it's going to be done!

Click to expand...

and this incls comment above and yours below - these stooopid pollies need to speak the truth, then they may gain some respect from a good % of voters re net zero let alone much new advancements, Get real, say this is our goal buts its a long game and we haven't got costs on all this vision but ride with us......

Football us life said:

Amd while he physical and technical hurdles of the energy transition are massive, the political reasoning is arguably the most complex gridlock of all. In Australia, energy policy isn't just about engineering; it is a highly polarised, deeply emotional political battlefield.

One Nation.and its polling number of 31% is a case in point!

Click to expand...

too funny I heard on the radio this morn Labor are asking for $27 donations to contest a marketing campaign against ON.
In some ways I lol at this situation were heading in.

Toe neglected adding this re grid renewable %
Overall, renewables account for about 36% of Australia's total electricity generation on an annual basis.

For some added bounce on renewables and one nation that moves faster than any on the planet, China.
Coal currently accounts for roughly 51% to 60% of China's electricity supply and makes up about half of its primary energy mix. Despite an aggressive rollout of renewables, China's coal reliance remains deep-rooted due to structural grid inertia and energy security policies.

Now EV's are the quickest change to occur for lets face it you need manufacturing/build ship out.
Trouble is the factory is mainly running from coal power and will for sometime yet.
Setting up the Infrastructure/renewables to run factories/buildings/every single place that runs on power is gonna take a lonnnnng time.
Then the battery dev re Trucking that runs not just out country many many others.
Hot and cold climates is still a battery challenge and distances.

LFC said:

BANG ON.........

and this incls comment above and yours below - these stooopid pollies need to speak the truth, then they may gain some respect from a good % of voters re net zero let alone much new advancements, Get real, say this is our goal buts its a long game and we haven't got costs on all this vision but ride with us......

too funny I heard on the radio this morn Labor are asking for $27 donations to contest a marketing campaign against ON.
In some ways I lol at this situation were heading in.

Toe neglected adding this re grid renewable %
Overall, renewables account for about 36% of Australia's total electricity generation on an annual basis.

Click to expand...

36% is actually higher than I thought.

The federal government's legislated target is to have 82% of Australia's electricity powered by renewables by 2030. Sitting at a true national average of 36% means the nation needs to more than double its total green output in a very short time frame....3 and a half years??

And transitioning a grid fractured island continent where heavy industry is locked in the desert and the cities are separated by thousands of kilometers of empty space shows exactly why a complete, national 2050 Net Zero target looks like a monumental uphill battle.