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Prime Minister Anthony Albanese has revealed that “social cohesion” is the reason he is pushing for for changes to capital gains tax and negative gearing ahead of the next budget.
This is the first time anybody has ever considered tweaking the middle class welfare that created a generational housing crisis since Labor took this same policy of tax reform to two unsuccessful elections last decade.
However, with more Gen-Z and Millennials voters registered to vote than Baby Boomers, it looks like the time has come for this policy to be passed confidently.
Of course this bold new direction was only run up the flagpole after multiple leaks from the government’s budget bunker, all of which appeared to imply that the government are keen to overhaul the investment property tax system.
During Albanese’s address to the Chamber of Minerals and Energy WA today, he said the government’s agenda was about national unity and fairness, and achieving that without taxing multi-national gas corporations that are driving up the cost of power while enjoying billions in profit.
And it looks like the Boomers are an easier target than the resource sector, who are currently spending hundreds of millions of dollars on advertisements that insist they already do pay tax!!!
Either way, something needs to change drastically, before Australia's financially marginalised young people begin joining armed paramilitaries.
It is not known how big these changes to negative gearing and the CGT tax discount will be, but Labor are already bracing for an onslaught of backlash from suburban millionaires and the major mastheads that are only being kept afloat by real estate listings and soon to be regulated gambling advertisements.
Speaking to the Betoota Advocate today, Bronwyn and Bruce Noonuckle (76, 77) from Betoota Grove, say that they finally understand what the Alabama civil rights activist Rosa Parks went through when that bigoted bus driver tried to make her sit up the back.
"This is persecution!" spits Bruce, a retired White Goods retailer who owns like six properties, two of which sit empty as land-banking assets.
Bronwyn, a lifelong homemaker who works part time as a property manager staunchly refuting maintenance requests from the worthless renters that pay over half their salaries to roomshare in these investments that were bought with less than one year's salary in the early 1990s, says the government is shifting the goal posts.
"Heaven forbid we self-fund our retirement" she says, despite having a shared super nest egg bigger than any of their tenants combined from her husband's single income.
"Anything to avoid slashing funding to those fake paraplegics!"
