Crikey | No, entrepreneurialism shouldn’t get better tax treatment compared to wages by Sophie Black

AI generated summary, Read the full article for complete information.

The article argues that the notion of Prime Minister Anthony Albanese becoming an “equal partner” in Australian businesses is misleading and borders on disinformation, especially as the government’s new tax reforms—tightening negative‑gear‑ing rules and altering capital‑gains tax—spark a backlash from the investor class. While the Labor Party anticipated resistance to the negative‑gear‑ing changes, it was caught off‑guard by a social‑media firestorm, driven by influencers decrying the measures as a “tax on ambition.” The piece highlights how entrepreneurs like mortgage‑broker founder Joseph Daoud are even buying costly billboard space to protest the policies, underscoring the political and economic tensions surrounding the recent fiscal overhaul.

Read more: https://www.crikey.com.au/2026/05/26/capital-gains-tax-entrepreneurs-income-assets-wealth/

#JimChalmers #JosephDaoud #Labor #capitalgainstax #negativegearing

Crikey | Geriatric media searches for young investors to prop up boomer privilege by Bernard Keane

AI generated summary, Read the full article for complete information.

The article argues that mainstream Australian media, whose audience is heavily weighted toward older readers, is weaponising anecdotal complaints from young investors to oppose the Labor government’s modest tax reforms—particularly the tweaks to negative‑gearing, capital‑gains tax and the long‑overdue crackdown on the “trust rort.” Instead of providing evidence‑based analysis, the media leans on personalized stories to criticize the changes, framing them as a bitter pill for investors while largely ignoring the broader context and data behind the policy adjustments.

Read more: https://www.crikey.com.au/2026/05/21/media-campaign-capital-gains-negative-gearing-anecdotes-facts/

#Laborgovernment #mainstreammedia #capitalgainstax #negativegearing #tax

Crikey | ‘Broken promises’, ‘death tax’: What the tax reform tantrum is really about by Rachel Withers

AI generated summary, Read the full article for complete information.

The article “‘Broken promises’, ‘death tax’: What the tax reform tantrum is really about” by Rachel Withers (May 20 2026) critiques the sensational language used against Labor’s proposed changes to investor tax breaks—specifically the capital gains tax discount, negative gearing and trusts—arguing that the core issue is simple: it is unfair for passive‑income earners to pay lower taxes than wage earners, and the current system is an anomaly that needs correcting.

Read more: https://www.crikey.com.au/2026/05/20/death-tax-reform-australia-broken-promise-capital-gains-tax-negative-gearing/

#LaborParty #capitalgainstax #economy #familytrusts #negativegearing

Crikey | Why is News Corp attacking tax reform? Because it’s actually a real estate company by Christopher Warren

AI generated summary, Read the full article for complete information.

News Corp is fiercely opposing budget property‑tax reforms because the company’s biggest financial engine is its majority ownership of REA Group, a global real‑estate advertising firm valued at about $13.75 billion—roughly 65 % of News Corp’s total market value—making the media conglomerate effectively a real‑estate company in its balance sheet; this stake ties its fortunes to the intersection of digital technology and real‑estate, allowing it to ride the wave of Australia’s housing boom that was amplified by the Howard government’s 1999 50 % capital‑gains‑tax discount.

Read more: https://www.crikey.com.au/2026/05/20/tax-reform-changes-australia-capital-gains-tax-negative-gearing-news-corp-rea-group/

#NewsCorp #REAGroup #capitalgainstax #housing #media

I note the #Albanese Government has finally done something about #NegativeGearing and the #CapitalGainsTax in the Budget.

It is only four years late for this mob and it should never have been made in the first place by John Howard’s Government. But as @amyremeikis.bsky.social points out in her excellent book, everything that is wrong with Australia started under the Howard Government.

The Negative Gearing change ‘grandfathers’ (ie, does not apply to) people with existing properties … that would be nearly every politician in the Federal Parliament.

I’ll write that again … the changes to negative gearing do not apply to nearly every single politician in the Federal Parliament.

#AusPol #Budget2026 #Budget26

Edited to add a hashtag

Sold a UK residential property?

You only have 60 days to report and pay your Capital Gains Tax to HMRC! Don't get caught out by late filing penalties. Our latest guide breaks down everything you need to know about the 60-day rule and how to ensure you're compliant.

Read more here: Capital gains tax property 60 day rule UK - https://www.protax.org.uk/articles/capital-gains-tax-property-60-day-rule/

#CapitalGainsTax#UKProperty#TaxCompliance#HMRC
#PropertyInvestment#TaxDeadlines#ProtaxConsultants
#UKTax

I saw a meme post on Facebook suggesting that no one earns a billion dollars except by wage theft, that no one works a billion times harder than other hardworking people who make ordinary wages. That seems a fair claim. I wrote this next paragraph in response, kind of as a spur of the moment thought, but it's something I want to spend more time thinking about:

I used to think that one solution to this was the practice of asking CEOs to not make more than some fixed multiple of their lowest-paid employee. But now I see the goal is to not employ anyone either. A lot of the benefits for corporations are justified on the idea that they employ people, so helping them helps people. Now that this assumption is on a path to being increasingly violated, we need to reconsider our special treatment of corporations as well.

#ai #corporations #billionaires #NoBilliionaires #LateStageCapitalism #ShareholderCapitalism #RegulatoryCapture #society #ethics #unemployment #automation #law #CapitalGains #CapitalGainsTax #WealthTax #inequality #fascism #feudalism #oligarchy