Remember that whole thing 15-20 years ago about “Occupy” and taxing the 1% etc?
This whole thing affects the top 0.3% of the population. 99.7% of us won’t be affected by it. There should be very wide popular support for this.
Hell, I wish I were affected by this policy. This is an awesome problem to have!
The accounting newsletter my uni made me sign up to had an article criticizing this from the SMSF association.
Their key complaint is “unrealized capital gains” which is … real estate basically. You can tax shares and they can just sell a few, “unrealized capital gains” only makes sense if you’re using your super fund to evade income tax as a property investor. These elites, even the obscure accounting newsletter elites, know full-well what they’re doing.
