22
"Queensland LNG projects delivered $310.1bn total income for gas companies but they paid just $966m in company tax – or just 0.3% of total income (and all of that was paid by just one company)." You can't compare revenue to tax paid. Tax is paid on profits, not revenue. For many businesses COGS is a very large percent of revenue.
taxing “unrealised capital gains” is stupid though
I think the idea is that it stops rich AF people using their super to store wealth by sitting on assets and instead forces them to use super to invest, which can actually help the economy.
Why ? People are doing it to avoid tax, dumping huge numbers of industrialial properties, houses or farms into their SMSF. Once again to AVOID tax, so fuck 'em. All of that penalises young people who then have a higher tax burden now.
Once agin this is a extra tax on amounts OVER $3 Million. Currently something like $500k-$1Mil is about the amount recommended for people to have a comfortable retirement.
They want to pass that on to people in the next generation and they're not going to pay any tax on it because the value is never realised, the gain is never realised."
I supoort the Greens $2Million limit and indexed
If you want to tax capital gains over $3 million then do it, but taxing unrealised capital gains is taxing on gains that haven't materialised, hence they are "unrealised" and I think that's stupid, whether it be for $10 or $10 million
this post was submitted on 29 May 2025
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