Mojo ♻️

Parliamentary Budget Office drops the truth bomb: 59% of the 50% CGT discount bonanza goes to the richest 1% (earning >$362k).
The system is rigged—tax breaks for millionaires while housing becomes a fantasy for the rest of us. Scrap this inequality engine.

#CGTDiscount, #HousingCrisis, #Auspol #BuildSocialHousing #NegativeGearing

https://www.theguardian.com/business/grogonomics/2026/feb/25/capital-gains-tax-discount-federal-budget-coalition-tax-cuts-for-the-richest

Finally fixing capital gains tax is good – but linking it to another tax cut for Australia’s rich is bollocks

Undoing bad policy does not require rewarding those who have benefited from it

The Guardian
Feb 26 at 7:48amWeb
Show threadFace ThumbFeb 26
@mojo Upper class welfare
Show threadMojo ♻️Feb 26
@chrisp "We all too often have socialism for the rich and rugged free enterprise capitalism for the poor"
Show threadEarsmeardiusFeb 26
@mojo I don't get the hate.
The 50% rebate is a concession to the fact that inflation erodes buying power and that calculating the increase in the value of an asset in an inflationary environment is complex. What is the alternative?
I mean, say I bought a widget and kept it for 10 years, but inflation decreased the value of the currency by half over the period. If I sell it for twice the sticker price I break even. O no I don't because I have to pay tax on the difference, and make a loss.
Show threadMojo ♻️Feb 26
@earsmeardius A fairer fix? Bring back full indexation like we had pre-1999: adjust the cost base exactly for CPI inflation, so you only pay tax on real gains above inflation. No more taxing inflationary creep, no over-subsidising massive booms, and it stops giving the one percent extra perks they don't need for basic inflation protection.
If we want true fairness without socialism-for-the-rich vibes, indexing nails the inflation problem precisely without the extra handout. Simplicity's nice, but not worth the inequity.