Australian Politics Forum - Really? I have to start the budget discussion?

lee

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Re: Really? I have to start the budget discussion?
Reply #45 - Today at 1:24pm

So let's recap.

The budget -

Is going to repeal the pre-1985 assets safety net for CGT
Is going to repeal the 50% discount on CGT
Is going to initiate indexation for CGT (start date not included) Wink

Is going to tax trusts at 30%, which is what it does now, but the CGT foregone discounts will increase the pot, hugely.
Is going to implement death duties by stealth, if not by name, with beneficiaries liable for 30% tax if a testamentary trust is a discretionary trust.

These ans other things will of course depend on the final legislative wording. Roll Eyes

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Frank

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Re: Really? I have to start the budget discussion?
Reply #46 - Today at 1:46pm

lee wrote Today at 1:24pm:

So let's recap.

The budget -

Is going to repeal the pre-1985 assets safety net for CGT
Is going to repeal the 50% discount on CGT
Is going to initiate indexation for CGT (start date not included) Wink

Is going to tax trusts at 30%, which is what it does now, but the CGT foregone discounts will increase the pot, hugely.
Is going to implement death duties by stealth, if not by name, with beneficiaries liable for 30% tax if a testamentary trust is a discretionary trust.

These ans other things will of course depend on the final legislative wording. Roll Eyes

lee wrote Today at 1:39pm:

https://i.postimg.cc/QMdNd2t4/Screenshot-2026-05-16-065321.png

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Estragon: I can’t go on like this.
Vladimir: That’s what you think.

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whiteknight Gold Member Offline Australian Politics Posts: 9213 melbourne Gender:	Re: Really? I have to start the budget discussion? Reply #47 - Today at 3:35pm Imagine if they didn't buy the nuclear submarines. Which all started under the coalition government. Now how much was it again?.
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lee Gold Member Offline Australian Politics Posts: 20749 Gender:	Re: Really? I have to start the budget discussion? Reply #48 - Today at 4:32pm whiteknight wrote Today at 3:35pm: Imagine if they didn't buy the nuclear submarines. Imagine if we didn't have a defence force.
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whiteknight Gold Member Offline Australian Politics Posts: 9213 melbourne Gender:	Re: Really? I have to start the budget discussion? Reply #49 - Today at 4:44pm Yes but we do have a defence force, but do we need nuclear submarines?.
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thegreatdivide

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Re: Really? I have to start the budget discussion?
Reply #50 - Today at 5:00pm

Sir Grappler Truth Teller OAM wrote on May 13^th, 2026 at 12:30am:

What is required is ACTION - starting with chopping mass immigration and stabilising costs of living and prospering for Australians,

OK - good start, now let's see if you can identify how to achieve that, after limiting immigration to match house builds - Taylor's ONE good policy among all the ideological nonsense re taxation.

How do you stabilize c-o-l and achieve prosperity for all Australians?

Over to you.....

Quote:

Way back Gough Whitlam's government fell over the sum of $4 Bn to 'buy back ownership of resources and convert them into a sovereign fund for all Australians owned and operated by Australians'...

Interestingly, Saudi Arabia and Qatar became prosperous by buying back their own resources from foreign-owned companies; Oz should do the same with its vast reserves of 'NW-shelf' gas.

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thegreatdivide

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Re: Really? I have to start the budget discussion?
Reply #51 - Today at 5:07pm

lee wrote Today at 1:24pm:

So let's recap.

The budget -

Is going to repeal the pre-1985 assets safety net for CGT
Is going to repeal the 50% discount on CGT
Is going to initiate indexation for CGT (start date not included) Wink

Is going to tax trusts at 30%, which is what it does now, but the CGT foregone discounts will increase the pot, hugely.
Is going to implement death duties by stealth, if not by name, with beneficiaries liable for 30% tax if a testamentary trust is a discretionary trust.

These ans other things will of course depend on the final legislative wording. Roll Eyes

Yes, so the eternal fights over tax continue, while democracies are foundering around the world.

The alternative:

https://ellenbrown.com/2026/05/11/the-abundance-paradigm-why-ai-forces-a-rethink...

THE ABUNDANCE PARADIGM: WHY AI FORCES A RETHINKING OF MONEY ITSELF — PART 1

and

https://publicmoneypublicgood.net/

Note: public money, not 'taxpayer money'; the disputes re taxation among 'experts' must cease, if we are to safely house everyone regardless of income.

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lee Gold Member Offline Australian Politics Posts: 20749 Gender:	Re: Really? I have to start the budget discussion? Reply #52 - Today at 5:57pm AI forces a re-think? AI does nothing beyond what has been programmed. AI does not think for itself.
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Poll
Question: The Federal Government budget for 2026 is
Great 2 (20.0%) Good 2 (20.0%) Average 2 (20.0%) Bad 1 (10.0%) Terrible 3 (30.0%) Total votes: 10 « Last Modified by: Vic on: May 13^th, 2026 at 7:48pm »