How incredibly stupid is @AlboMP ‘s new CGT for all the millions of Australians who own shares or crypto etc outside super. Who will pay for this loss of productivity? @AlboMP ? This failed new CGT will destroy productivity for all Australians investors. Read the @facebook post👇 Another unexpected impact! #StoptheCGT #JoinWARonCGT “Want to understand just how bloody ridiculous Australia's new CGT system becomes from 1 July 2027? Not just for shares either... crypto too. It's faaaaarked!!!!!!! 🤡 Say an ordinary Aussie builds up 8,240 BHP shares across 12 purchases plus 6 dividend reinvestment parcels, all bought at different prices, dates and brokerage costs. If those shares are held across 30 June 2027, the law can effectively reset their cost base around 1 July 2027 using market value, with the pre 2027 notional gain deferred until you eventually sell and potentially still eligible for the old 50% discount, while eligible post 2027 gains move into the new CPI indexation system. Now sell only 4,350 shares in 2032 and start the completely f*kd accounting process! First identify which acquisition parcels were actually disposed of, calculate their allocated sale proceeds and brokerage, calculate the deferred pre 2027 gain attributable to those parcels, THEN calculate the post 2027 indexed cost base separately for each relevant parcel where indexation applies... Indexed cost = eligible cost-base amount × CPI for the quarter you sell ÷ CPI for the quarter that particular cost was incurred. Except the third cost base element isn't indexed, different dividend reinvestment purchases and later eligible costs can have completely different CPI starting points and indexation itself generally requires the 12 month holding rule to be satisfied. THEN calculate each post 2027 capital gain, aggregate the parcels, apply current year capital losses in the legislated order, starting with deferred non-residential gains before moving through the other categories, repeat the sequencing AGAIN for carried forward losses, apply whatever remaining concessions actually qualify, add everything back together and THEN, if the minimum tax provisions apply to you, calculate your minimum tax capital gain after those CGT steps, multiply it by 30%, calculate your normal income tax WITH that gain, calculate your normal income tax AGAIN without that minimum tax capital gain, subtract one liability from the other, compare the result against the 30% calculation and potentially pay the difference. Congratulations... what used to be "sell shares, subtract cost base, apply losses and potentially halve an eligible long term gain" can now become 18 acquisition parcels + 18 different cost histories + a 30 June 2027 market valuation + deferred historical gains + post 2027 indexed cost bases + multiple CPI ratios + brokerage allocations + statutory loss sequencing + ordinary income-tax modelling + another 30% minimum-tax calculation. Seriously... WTF!!!! These aren't derivatives, offshore structures or some billionaire tax scheme... THEY'RE JUST SHARES!!! If an Aussie needs advanced accounting software and historical CPI tables just to work out the Government's cut of an investment bought with money they've already paid TAX on, maybe the problem isn't that CGT needs another "reform"... maybe CGT itself needs to GO!!! ZERO CGT FOR AUSTRALIAN CITIZENS. Reward people for investing, taking risks and building wealth instead of turning success into a f*kd mathematics exam so complex you're paying an accountant thousands just to figure out what the bloody Government says you owe!!!” facebook.com/share/p/1EUNbtR…

The new CGT must be stopped. It’s war on the aspiration and ambition of all Australians. "If you’re disincentivising investment in growth companies, you’re not only hurting investors — you’re hurting Australia’s long-term prosperity."