CGTUSDT
CACHE Gold / Tether USD
crypto

I just buy actual physical gold coins instead, CGT free nice separation from investments or a given platform if things go tits up

Only 2 days left to take advantage of the CGT Discount

Annoyed about this because I'm 54 and unemployed so I sold most of my investments just in case.
I have large money market holdings. I was using Hargreaves Lansdown but now they charge a fee for buying and selling funds so I largely switched to Fidelity.
There are lower risk investments: RICA, PNL, CGT but these haven't been that good on a short term basis. They're better for longer term wealth preservation.
I've sold all of my corporate bond funds because I just don't know who is exposed to data centre financing. Not that it matters because when the AI bubble pops all bond funds are likely to sell off if there is worry about contagion (somebody must have funded all this debt).

That's not right. You have to pay CGT whenever you sell investments profiting 3k not when you withdraw cash from the account

The reason gambling gains are non taxable is because it isn’t a business. If you were systematic and treated it as a genuine business (like a professional poker player) then it would be taxable.
Casual share trading is still taxable because shares are a CGT asset and a disposal is taxable. No assets are being disposed when you’re gambling casually.

They're a self-hating fake commy, that's why they're contrarianbaiting on the CGT changes because criticising the ALP = secretly supports LNP, no alternatives. Finance culture war

I’m not talking about the change to housing CGT, neither did the furry, it needed to happen
what I am not sure of is what is more productive than putting money into a small business exploring a new market which is probably seconded by shares, for the economy? why wouldn’t you want to incentivise that
I bet we’ll start seeing money put into collector item cars or diamond rings, what are they going to do then? maybe they should’ve also included a luxury item tax?

I'm a bit confused by your response here, the furry said that stock investments are non-productive, not that they don't make returns. Economic productivity has absolutely nothing to do with stocks returns. If it did, our productivity would be through the roof right now given how many companies are posting wins.
The awkward fact remains that we have incentivised rent seeking behaviour in this country for a good 30 years. This has pushed more people to hoard wealth in non-productive assets. Due to so many people being invested in these non-productive assets, they have needed capital appreciation to make the investment a success. So the companies raise their profit targets and squeeze the market (the retail shareholders) at the til. Then everyone gets hot and bothered that everything costs more. The returns are being given back to us after we pay more for the services, so our assets can increase in value.
Economic productivity is measure of how many dollars can be generated from a unit of time (work). Productivity has been in the shit because over time corporations have stopped spending money on R&D, there's plenty of resources on this topic.
I have talked about this before, but Australia is in a fucking precarious situation economically in the future. We are overexposed to fossil fuels and related industries, whilst having an enormous comparative advantage for transitioning to the green economy. On top of this, our economic diversity is woeful.
The CGT changes are part of a reform package, reform takes time. They are incentivising the right things.

Yea mate. Unfortunately, we have to pay tax on it as it is a gain in the specified financial year. If you make a loss you get to claim that for the respective financial year. The ATO does not recognise an “open trade” so to speak. It’ll be even worse if the new CGT laws come into effect.

I usually buy on the ex div day given the tax benefit (ie CGT vs income tax). Obviously that doesn’t apply if you don’t pay tax for some reason.