Tax moves a ‘ con job’
I FEEL there are questions that must be asked before next year’s federal election as the financial effects on the general public will be catastrophic.
We must remind voters that it is not a forgone conclusion Labor will win.
And I believe that the more people are aware of the cash grab by Labor the less likely people will vote for them.
I must stress I am not an LNP member or supporter but just a self- funded retiree.
I want a fair deal for not only retirees but also for working Australians in general.
The proposed policy of reducing capital gains tax deductions from 50 per cent to 25 per cent will impact any desire to invest in property as it will be a triple whammy for property investors as there are proposed changes to three legal and long standing tax deduction schemes: dividend imputation/ franking credits, negative gearing mostly used with property, and lastly the reduction in capital gains deductions mentioned above.
The effects on small investors like myself will reduce my income not only from my shares but it will also ensure superannuation funds will have to change investment strategies.
That will adversely affect not only my current retirement income but any future retiree may receive less in their payout than previously thought as funds are forced to adjust to the new tax changes if Labor wins the election. People must also ask Labor just who benefits from these so called “changes for the better”.
Why is Labor so hell bent on changing legal deductions that have been in place as long as I can remember, and I turned 70 last month.
Are these proposals just a sleight of hand con job?
I wish I could pick a winner at the track as easy as seeing through this con job.
If we the people vote Labor in just on any one of these three policy proposals let alone the triple whammy of all three we deserve every bit of financial pain we get.
It will hurt lower income/ working families the most.
I thought that’s who Labor wanted to protect?
Silly me, it’s all about money, which may be a necessary evil but I’m blowed if I’m going to give a government any more than I have to and that’s exactly what this con job is all about.
No political party spends funds wisely. There is always some idiot cause that gets funding yet basic infrastructure