Australia's 80% TAX...

Australia's new CGT rules are so broken most people do not even understand what they actually do to risk. The government says they are only taxing real gains above inflation. Sounds fair on the surface. But real investing is messy. Winners, losers, dead money, assets that barely beat inflation. Most returns in a growth portfolio come from a tiny number of big winners. These rules let the tax office take a massive slice of every winner while you are still carrying all the losers. The AFR ran the numbers. Effective tax rates of 55 to 80 percent on growth heavy portfolios. A venture portfolio with lots of small bets and one big winner could get taxed at 80 percent. That moves capital away from startups, from innovation, from the exact bets that create the companies that lift living standards for everyone. But if you win Powerball and take home $100 million you pay zero tax. Zero productivity created. Zero percent tax. Build a company, take real risk, create jobs. Pay 80 percent. This makes no sen