I sensed that Australia was going bonkers early in 2020 during the infancy of the COVID Plandemic. A Taiwanese student of mine told me that her friend living in Sydney was fined $1,200 USD merely for drinking a cup of coffee while sitting on a bench in a public park. Apparently the madness just keeps spreading.
Are you aware that politicians' superfunds are NOT going to be taxed like every other 'rich' citizen? Check this out, they're exempt and it's not a joke. Very reminiscent of untested vaccines mandated for millions of Australian workers, but NOT of federal politicians, judges and other high-ranking people. Their money is safe and their job never depended on medical compliance... Funny that...
The benefits of union and left wing Marxists to return the country of massive resources into sun & wind power On & Off electric power.
No wurries, she’ll be right.
Just as the rain obliterates the homes and businesses of NSW by overnight rainfall … 1/2 the mugs still believe in Aust that we will change the world’s climate by eliminating fossil fuel and Never Ever! try that Nuclear stuff.
Australians are going to understand STUPID BIG as day follows power blackout and business closures.
Thank you for your wonderful writing! I had to look up "abattoir" - how perfect a description is that? I always wonder if 50 years ago, people were talking about the world as if it had gone crazy as we think today. Is it really worse today? I'm thinking the Viet Nam era was pretty bad, and probably the depression and WWII weren't so great. I also loved the Thomas Sowell quote!, “I have never understood why it is greed to want to keep the money you have earned but not greed to want to take somebody else's money.”
As I said to my brothers the other day….unfortunately Aussies in large part love the taste of the sugary pellets and feedstock given to them while standing in line at the abattoir!
Took action to leave 🦘 in 2023 after the 'rona madness, currently setting up in Paraguay this year, should pay my first 0% tax bill next financial year..
Looks like I have got out just in the nick of time..
I’m pretty sure you mean semi-automatic firearms and not “fully” automatic. I don’t think any company manufactures fully automatic firearms for the civilian market.
Most agreed with some form of gun control. One can still own a gun just not automatic weapons. Yes to get a gun requires some hoops to jump through. Criminals can still get weapons illegally but fortunately they mainly shoot each other with these weapons. Mass shootings are a thing of the past. Every Australian is precious and needs protecting with sensible gun control laws.
One where one can still hunt game and shoot targets but cannot kill a lot of people quickly with automatic or semi automatic weapons with large magazines.
It is "people" with guns that can kill or harm others. A gun sitting on the floor can not move , unless a human being does so. Same as a car, it does not move unless a human being is causing it to move. Cars can also be used in violence. As has been in the news lately. My point-leave government out of our lives.
As for taxing unrealized gains, in the USA your commodity futures account is taxed at mark to market as of year end. You are taxed on that amount even if the trade is still open.
Brilliant comment by Paine of Glass on Quoth the Raven's article "Australia's Unrealized Gains Tax will be a Lesson in Economic Suicide"
"I’m kind of glad they’re doing it. I think you’re right that it’s going to be an unmitigated disaster. Hopefully it will be enough of a shit show that the geniuses over here that advocate for it will drop it. Can’t wait for someone to sue to be able to claim unrealized losses. That should make for an interesting defense argument by the Aussie Gov…"
In addition to the litigation disaster that is inevitable, taxing unrealized gains will almost certainly cause a mass exodus from the securities markets, possibly crashing them.
If not crashing them, it will at least cause some major capital flight from them.
I fear this article will get in the “wrong hands” of our crowned elite knuckleheads, giving them another opportunity to make this a tax scheme here in USA.
Yes ,I hope also . But I think on the positive, these people do not read this site. There are not enough pictures and no crayons. Maybe I am not critical enough! I am talking about the wrong hands.
Also known as the SKI policy, Spending The Kids Inheritance policy. Aussies love a game it’s true and the greatest game of all is avoiding unnecessary tax . Let the games begin !!!
Joel, What is a semi sane person to do, while counting the marbles they have left in order to just survive. The 36 trillion dollar question here in the U.S.. Maybe the monopoly game is finally over.
Super was really one of the few good things left about Australia. I knew they would come for it, but I didn't think it would happen so soon. I guess it will be back to the drawing board to see if there are enough positive things to keep me here, rather than waiting elsewhere till the crazy times blow past. Getting less and less positive about Australia's long term prospects.
Generally our political habit it seems is to give most federal governments a second chance to destroy us. There’s been very few single term governments.
The liberals put up the worst labour-lite candidate ever. There was barely any discernible difference and he doubled down by apologising to shadows for the merest hint of non-woke spoken words. You can put up an idiot like that but he better be charismatic, charming or good looking (or some combo of the three) but he was as interesting as a funeral director at an actuary conference.
I’m in a fortunate (or unfortunate) position of working with thousands of different people a year and watching and listening a little to tens of thousands of conversations. I wasn’t picking up general hatred and disgust for this government. You usually get a flavour for a change coming. There was nothing in a general sense to indicate the masses were bringing baseball bats to the polling booth.
So here we are. Honestly, NZ is looking better right now for emigration!
I sensed that Australia was going bonkers early in 2020 during the infancy of the COVID Plandemic. A Taiwanese student of mine told me that her friend living in Sydney was fined $1,200 USD merely for drinking a cup of coffee while sitting on a bench in a public park. Apparently the madness just keeps spreading.
Insane. And yet, to this day, with all we now know, people will still defend such behavior. Celebrate it, even. Crazy.
Are you aware that politicians' superfunds are NOT going to be taxed like every other 'rich' citizen? Check this out, they're exempt and it's not a joke. Very reminiscent of untested vaccines mandated for millions of Australian workers, but NOT of federal politicians, judges and other high-ranking people. Their money is safe and their job never depended on medical compliance... Funny that...
The benefits of union and left wing Marxists to return the country of massive resources into sun & wind power On & Off electric power.
No wurries, she’ll be right.
Just as the rain obliterates the homes and businesses of NSW by overnight rainfall … 1/2 the mugs still believe in Aust that we will change the world’s climate by eliminating fossil fuel and Never Ever! try that Nuclear stuff.
Australians are going to understand STUPID BIG as day follows power blackout and business closures.
Thank you for your wonderful writing! I had to look up "abattoir" - how perfect a description is that? I always wonder if 50 years ago, people were talking about the world as if it had gone crazy as we think today. Is it really worse today? I'm thinking the Viet Nam era was pretty bad, and probably the depression and WWII weren't so great. I also loved the Thomas Sowell quote!, “I have never understood why it is greed to want to keep the money you have earned but not greed to want to take somebody else's money.”
As I said to my brothers the other day….unfortunately Aussies in large part love the taste of the sugary pellets and feedstock given to them while standing in line at the abattoir!
Took action to leave 🦘 in 2023 after the 'rona madness, currently setting up in Paraguay this year, should pay my first 0% tax bill next financial year..
Looks like I have got out just in the nick of time..
Nice article!
Congratulations! We mean to visit Paraguay later this year. Might see you up there. Cheers!
If that isn't an inflection point I don't think society is going to find one.
Alas, I suspect you're right...
Wow! Aussies can move to the USA with all the oppressed South Africans. Doors are open!
What did the Aussies think when they allowed their government to confiscate their guns?
Ask the Brits in 1940
I've still got mine, just not the fully automatics. Some States are, however, trying to make it more and more difficult to keep the licence.
I’m pretty sure you mean semi-automatic firearms and not “fully” automatic. I don’t think any company manufactures fully automatic firearms for the civilian market.
Most agreed with some form of gun control. One can still own a gun just not automatic weapons. Yes to get a gun requires some hoops to jump through. Criminals can still get weapons illegally but fortunately they mainly shoot each other with these weapons. Mass shootings are a thing of the past. Every Australian is precious and needs protecting with sensible gun control laws.
The true outlaws are in government all the rest are gangsters, and they're never a threat to the law abiding.
What the hell is a sensible gun control law. (An American who just wants to know)
One where one can still hunt game and shoot targets but cannot kill a lot of people quickly with automatic or semi automatic weapons with large magazines.
It is "people" with guns that can kill or harm others. A gun sitting on the floor can not move , unless a human being does so. Same as a car, it does not move unless a human being is causing it to move. Cars can also be used in violence. As has been in the news lately. My point-leave government out of our lives.
Unfortunately, here in the U.S., we have our own full retards. They are currently out of power, thankfully!
"Wealth tax proposals: Beyond Biden’s specific plan, several lawmakers (like Senators Elizabeth Warren and Bernie Sanders) have championed a more straightforward wealth tax." from https://taxsharkinc.com/are-unrealized-capital-gains-taxable/
As for taxing unrealized gains, in the USA your commodity futures account is taxed at mark to market as of year end. You are taxed on that amount even if the trade is still open.
those terrorist clown parties should have been jailed for their convid crimes years ago. australia is kicking it self in the nuts over and over
Brilliant comment by Paine of Glass on Quoth the Raven's article "Australia's Unrealized Gains Tax will be a Lesson in Economic Suicide"
"I’m kind of glad they’re doing it. I think you’re right that it’s going to be an unmitigated disaster. Hopefully it will be enough of a shit show that the geniuses over here that advocate for it will drop it. Can’t wait for someone to sue to be able to claim unrealized losses. That should make for an interesting defense argument by the Aussie Gov…"
In addition to the litigation disaster that is inevitable, taxing unrealized gains will almost certainly cause a mass exodus from the securities markets, possibly crashing them.
If not crashing them, it will at least cause some major capital flight from them.
I fear this article will get in the “wrong hands” of our crowned elite knuckleheads, giving them another opportunity to make this a tax scheme here in USA.
Yes ,I hope also . But I think on the positive, these people do not read this site. There are not enough pictures and no crayons. Maybe I am not critical enough! I am talking about the wrong hands.
They are already taxing unrealized gains in the US according to Richard Hess.
See his comment above.
Also known as the SKI policy, Spending The Kids Inheritance policy. Aussies love a game it’s true and the greatest game of all is avoiding unnecessary tax . Let the games begin !!!
Joel, What is a semi sane person to do, while counting the marbles they have left in order to just survive. The 36 trillion dollar question here in the U.S.. Maybe the monopoly game is finally over.
Super was really one of the few good things left about Australia. I knew they would come for it, but I didn't think it would happen so soon. I guess it will be back to the drawing board to see if there are enough positive things to keep me here, rather than waiting elsewhere till the crazy times blow past. Getting less and less positive about Australia's long term prospects.
I don't know how we even ended up with this Government, no one I know voted for the swamp critters that were elected!
I got out of Super as soon as I was able, many years ago. I never trusted that they wouldn't come after it...
Generally our political habit it seems is to give most federal governments a second chance to destroy us. There’s been very few single term governments.
The liberals put up the worst labour-lite candidate ever. There was barely any discernible difference and he doubled down by apologising to shadows for the merest hint of non-woke spoken words. You can put up an idiot like that but he better be charismatic, charming or good looking (or some combo of the three) but he was as interesting as a funeral director at an actuary conference.
I’m in a fortunate (or unfortunate) position of working with thousands of different people a year and watching and listening a little to tens of thousands of conversations. I wasn’t picking up general hatred and disgust for this government. You usually get a flavour for a change coming. There was nothing in a general sense to indicate the masses were bringing baseball bats to the polling booth.
So here we are. Honestly, NZ is looking better right now for emigration!
Yes and the Libs have continued the tradition of another Labor lite leader ha ha.
Maybe in 3 years time they will have woken up (no pun intended)