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it's just the beginning for Cirralto!, page-9374

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Un1qu3Nam3

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04/03/21

08:33

Post #: 51503002
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Originally posted by Silent-Bubbles ↑

I'm not sure it is a fair call. Many may remember that the main impetus in introducing the CGT 50% discounting was not just the Ralph Review of Taxation reforms. Sure there was an argument that it should be brought in line with a reason to discount it to the same level as the GST 10% level.

However the main reason was to abate the market euphoria surrounding the previous Tech Bubble and market hype at the time. So it was ALL really geared toward the over exuberant trading and ' flipping ' of shares and the insatiable appetite for accumulation at higher and higher valuation and price level. So the Government of the day said ' Hey ' what if we give them a 50% discount if they hold their stocks for a minimum required period of 12 months. Brilliant right ?

Well for stocks maybe ......but the halfwits didn't realize that as was the case in the much earlier Keating years when Capital Gains Tax was first introduced , there were a myriad of different classifications of applicable assets under the rules. But what these Liberal Boffins didn't realize in the latest changes is that by applying the 50% discounting to ALL assets classes together with their lax immigration policies , is that all they did was create the next Bubble in the property market. Instead , they should have considered these unique differences in asset classes given the sheer size and purpose being usually in the nature of accommodation ie being a home for someone ....and therefore , these changes should have been set at a higher holding period levels of say 2 to 5 years for all assets classed as homes for living or rental purposes..

Because by not recognizing these differences , the Country created from the causation of this new styled Investor from predominantly Asia and India , a new and different rampant out of control culture of ' Flipping ' properties like they were shares or tokens at Casio's. And most likely these Investors were also shorting the stock markets all the while making their longer 12 month minimum property deals to compliment their total returns.

And a lot of them would simply make the settlement periods 12 months with no intentions of renting and just to avoid the funding required in the final settlement.

So the system my friends is substantially flawed in my opinion......and needs desperate review , investigation , and fixing If you remember , they also brought in the 45 day rule and the $5,000 rule governing Franked Dividends and the Dividend Stripping at the same time , and which was also rife during , and up to these early euphoric stock trading periods.

So whilst I have digressed somewhat in the argument , my main point in so far as how it is applicable here is that perhaps changes need to be made which required 708's and their privileged entitlements to frequent raises at significantly discounted pricing ought to in fact be required to hold these parcels for longer periods than what amounts to only a few days.

Talk to your M.P folks. Get the message out there because that is the only way small Investors can ever hope to effect changes in these areas.

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Smirko served the IPA and the banks. No letters will do any help.

CRO Price at posting: 8.2¢ Sentiment: Buy Disclosure: Held
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it's just the beginning for Cirralto!, page-9374

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

Week 41 Wrap: HotCopper asks “Back to Mongolia?” for Elixir; US CPI comes in at 2.4%; eyes still on China

NRW Holdings inks $109M deal with BHP for works at Jimblebar

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Issues emerging as Australian companies tackle critical minerals challenge

Tigers Realm's US$49M sale of Russian assets – to a Kremlin-adjacent billionaire – set to go ahead

Cauldron Energy reports "excellent" uranium assays in latest drill run

Defence MOU for propulsion systems pushes Aurora Lab shares higher

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

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it's just the beginning for Cirralto!, page-9374

Top Stories

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

Week 41 Wrap: HotCopper asks “Back to Mongolia?” for Elixir; US CPI comes in at 2.4%; eyes still on China

NRW Holdings inks $109M deal with BHP for works at Jimblebar

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Issues emerging as Australian companies tackle critical minerals challenge

Tigers Realm's US$49M sale of Russian assets – to a Kremlin-adjacent billionaire – set to go ahead

Cauldron Energy reports "excellent" uranium assays in latest drill run

Defence MOU for propulsion systems pushes Aurora Lab shares higher

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

Featured News

Buyers (Bids)

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