This is the dumbest most ill-conceived policy in the history of...

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    This is the dumbest most ill-conceived policy in the history of mankind. The consequences are predictable. Wealthy Australians will domicile abroad (but still hold an AU passport to spend most of their time here), leading to lower investment, less businesses and less employment. Asset values will crash because nobody will want unrealised gains. SMSFs will be drained at maximum annual rate (benefitting the countries retirees aspire to visit). A black market swaps economy will thrive. Industry Super Funds will decline in value and have difficulty supporting members in retirement (but the industry super funds run by unions will employ more union mates to deal with the exponential workload). The building industry will crash and put tradies out of work as downward pressure on valuations kicks in to avoid unrealised gains while inflation puts materials an labor costs higher than the property value. It will ruin the entire fabric of the economy.
 
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