There is absolutely no good reason to tax unrealised capital gains. It is nothing short of communist policy. There are many other ways to rape the rich if that is the way they want to punish them. Apply marginal rates when its drawn.
It is abhorrent policy and if you think it will only affect those with over $3million you are very, very, wrong.
What it will do is have trickle down imacts on the lowest balances of all - those of the envious, bitter, vitriolic, anti-weathy.
With communists in control including of the senate, Austalia is about to suffer a world of pain, aside from the energy poverty about to hit home.
Tax on unrealised CG in Super over $3M (not indexed) will very soon become tax on unrealised CG in all super - this from a Party that campaigned on a platform of inventing superannuation. OMG the gall. Now want to destroy it to buy more votes. Note that politicians are on defined benefits schemes - the state of share markets is irrelevent to them - the ASX and DOW could be zero and they still get their super, the rest of us would have none.
Brace for tax on the family home - by virtue of Chalmers not even having the ability to lie about not doing it
