Unrealised gains tax will be a ‘disaster’ for Australia

SKY NEWS ^ | April 30, 2025 | SKY NEWS

[RomanSoldier19]

Wilson Asset Management founder Geoff Wilson says the introduction of unrealised gains tax will be a “disaster” for Australia.

Opposition Leader Peter Dutton has been vocal against a tax on unrealised gains for Australia.

video at link

[RomanSoldier19]

[Red Badger]

It will kill investment dead........................

[kosciusko51]

It’s a terrible idea, even worse than inheritance taxes.

[dfwgator]

It’s already a colony of China, anyway.

[Don W]

So they want to tax unrealized gains, but will they refund LOSSES?

Yeah, we both know the answer to that, don’t we?

[pepsi_junkie]

Will they let you write off unrealized losses, or just confiscate a portion of your portfolio every year? Because if they pass this law, nobody will be seeing gains in the Aussie stock market for a long, long time.

[PGR88]

politicians and central banks create inflation by money printing, massive debt spending.

Hard assets like real estate or productive businesses rise with the greater monetary base.

So the proposal, in sum, is to tax you on the inflation they created.

[EnderWiggin1970]

Taxing unrealized gains is mindblowingly stupid, not to mention unworkable. But it will be easy for elites to just declare that you underpaid on your taxes by arbitrarily saying you should have valued your assets more highly than you declared, making you a felon (basically the same crime they hypocritically convicted Trump over).

Australia, the next failed state.

[RomanSoldier19]

[NavyShoe]

Dems want to do that here.

[ridesthemiles]

TRY THIS IN PACIFIC PALISADES

[SkyDancer]

I think Ohio may have something similar - something like taxing you on intangibles or money you may earn and that’s taxed. Sort of like that urban legend(?) where if you have a spare unused bedroom, you’d be taxed on what you could rent it for.

[econjack]

This is one of the worst things that an economy can do to itself. Other than raising revenue in the short run, there is not one good thing about such a policy.

[ridesthemiles]

TRY THIS IN PACIFIC PALISADES

OR ALTADENA

[Hazwaste]

Be done with it, and tax each baby up front on what the government thinks he or she will earn in their lifetime.

[Daveinyork]

The record keeping by taxpayers will be a nightmare.

[Political Junkie Too]

you should have valued your assets more highly than you declared, making you a felon (basically the same crime they hypocritically convicted Trump over)

Except that with Trump, they said he should have valued his property lower than he declared.

-PJ

[DownInFlames]

Monthly. Tax bills will be paid monthly.

[skimbell]

That's the way that I'm going to play it.
I'm going to bank my ‘unrealized gains’ and pay my tax liability with the ‘unrealized compound interest’ that I plan to receive.

[Jan_Sobieski]

Elites always use New Zealand and Australia as their test beds. We now know how the WEF plans to make us own nothing and love it!