Can someone please explain the issue with the proposed CGT reform?

I'm not educated on the matter but I see the media (which is owned by billionaires) complaining while I'm still fairly broke so I reckon it's fine.

in-depth discussions from a tax/investor/small biz perspective (most of it is not applicable to me or 80% of the population so i just watched at 1.5x speed to get a gist of issues)

https://www.youtube.com/watch?v=yMV0PA2jkrk

edit: some of the 'problems' like the negative gearing impacting borrowing power... i'm like good... that's the point!

problems like restructuring costs and stamp duty... yeah that's kinda a legit issue.

What’s this 47% equity thing doing the rounds that just sounds incorrect?

There was an ABC News Daily episode on this recently. It sounds incorrect because it is, the 47% figure applies to a tiny minority and basically no one that is complaining about it.

Here's an excerpt from an SBS News article that also debunks it:

Independent economist Saul Eslake said the suggestion that reforms would somehow make the government or the prime minister a 47 per cent shareholder in every business is "completely fictitious".

"What you pay capital gains tax on is the increase in the value of assets which you own when you sell them," he explained to SBS News.

"Under the changes the government is proposing, Australians will get relief from the impact of inflation on the cost base of those assets.

"And in fact, for many assets, including shares and units, the system of capital gains taxation which the government will be bringing into effect from one July next year is actually more concessional than the 50 per cent discount that's applied to capital gains since 1999 when it was changed by John Howard and Peter Costello," he said.

"That system has primarily benefited investors in houses whose prices have risen on average over the period since then by about 7.5 per cent a year, which is more than double the inflation rate, which has averaged just under 3 per cent per annum over that period."

Many of the wealthy seem to dislike it, for reasons of unwealthiness.

The rich none working asset grifters were gifted a dream tax bonus by the cruel and deformed grifter dwarf(aka John Howard) now the White Knight Sir Albo has wounded the nasty tax dragon who defended the rich grifters, the rich grifters are wailing and moaning and want the red headed witch Poorline to revenge them!

Story to be continued .......

the issue ? reading the endless complaining of self entitled whiney cunts.

Rich people are throwing all their money into trusts to dodge taxes.

They all think they earned the money. They think they're doing us a favor by profiting from houses

This doesn't affect anyone truly wealthy. They allegedly don't 'own' anything or pay tax in their own name. In this country. Generally.

It will affect some people who don't have accountants or financial.advisors, or allegedly, maybe, bad ones.

I'd recommend you post your questions to an AI to get a good understanding.