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And imagine what the cap will do to rental property investments...

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Old Engineer

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03/03/23

11:56

Post #: 66582213
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Originally posted by sholtz: ↑

Let’s use the biggest SMSF as an example, if the last valuation was $400m and the next valuation is $1B (which it is currently) because the shares have had a spike they will be up for $63m in tax on the unrealised profits. This will then put pressure on the share price of that company as a portion will need to be sold to pay the tax, unless they have a lazy $63m cash in the fund.
So Labor are determined to steal a portion of the nest egg that was created under the rules of the time.
This policy is an absolute disgrace and if they include that part of the policy to an election and it gets up then the general public are dumber than I thought, socialism at it finest.

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And imagine what the cap will do to rental property investments and the subsequent low vacancy rates due to super funds quitting the sector.

And the Fairfax papers are howling for Labor to get stuck into negative gearing next. Our sovereign risk rating must be heading for par with Ghana
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