The negative gearing/capital gains tax changes are really simple and benefit regular people
The media (owned by rich people) are currently going "WOW? SO CONFUSING! BAD LABOR BUDGET BAD! MASSIVE TAX HIKES!" but what actually is happening?
Negative gearing ISN'T being abolished. Literally everyone who already benefited from it on their investment portfolios continues to have it. Anyone complaining and saying they're going to raise the rent because it's made things less profitable for them is lying and a scumbag.
The change is going forward any ADDITIONAL properties an investor wants to get tax breaks on can only be applied to NEW builds, thus encouraging investors to build new properties (instead of buying all the currently existing ones and driving prices up). So who is negatively impacted by this? Literally no one. Who does this benefit? Anyone who wants to live in a house because it increases housing supply and makes the housing market less competitive for investors vs home owners.
Really simple.
What about capital gains tax discount? Basically, in the 90s John Howard made it so that when you sold a house you'd get a 50% discount where half of the profit wasn't taxed. Investors went woohoo! Bought up all the affordable houses to drive prices up and make a big profit. It fueled the housing crisis for the past 30 years. But Labor went "actually, what if we just tax it at 30% instead with no discount?" So instead of half of the money being tax free, it's all taxed. You know... like how making money normally works???
30% is still actually lower than the top two income tax brackets so rich people will still manage to make lots of money without having to work BUT... they'll just have to pay a little tax. BUT only on profit. If a property makes a loss it's not taxed. The amount of tax is also adjusted down relative to inflation so a $100,000 profit isn't taxed $30,000 but actually less depending on how much inflation happened during the time the asset was held.
Also capital gains tax doesn't apply to the home you live in so unless you're a property investor YOU'RE NOT GETTING TAXED! THE VAST MAJORITY OF AUSTRALIANS ARE NOT BEING AFFECTED HERE AND YET WE'RE SEEING WIDE PUBLIC OUTRAGE OVER A TAX DESIGNED TO MAKE THE HOUSING MARKET LESS COMPETITIVE AND THUS EASIER FOR HOME OWNERS TO ENTER IT.
This budget literally mostly just slightly inconveniences the 1% of investors who own a WHOPPING 25% OF INVESTMENT PROPERTIES IN AUSTRALIA.
The capital gains tax discount was never for working Australians! It was never for you! It was always just a tax perk for investors to encourage them to buy up houses away from those who needed them and hike up rents. Labor fixed that.
No wonder the rich media moguls and politicians who make most of their money off property investments like Pauline Hanson and Angus Taylor are mad about it and want YOU to be mad too. They don't want to pay taxes! Booo! The problem is: if we can't get the uber-wealthy to pay a little bit of tax then YOU will NEVER own a home!
So the changes are really simple. They're mild. And yet the right is outraged over how it even slightly benefits working and ordinary Australians.
"Maria Perez, styled a Balteira, can be considered the most famous woman of medieval literature, about whom most has been written. Writers, painters and other artists have approached her from different perspectives. Her personality exercises a certain attraction and her figure grew over time until she became shrouded in the aura of legend.
Soldadeiras, it seems, were dancers who lived off their theatrical art and other services, receiving in return the soldada (salary), the noun from which the term soldadeira derives. They accompanied the jongleurs as they travelled from courts to noble houses, acting as companions, assistants and frequently as servants, dancing and singing to the sound of the instrument played by the jongleur.Their presence is proven by regulations that forbade, or limited, their access to court and military circles.
There are no explicit references in the cancioneiros to the nature of their craft, although the depictions of them dancing in the company of jongleurs in the miniatures of the Cancioneiro da Ajuda are significant. The most common scene of these shows a woman playing ‘tarrañolas’ (Galician castanets), singing and dancing with arms held high, accompanied by the jongleur with the sound of the psaltery or the guitar. In the satirical genre close to 43 cantigas are dedicated to the soldadeiras (almost 10 per cent of the d’escarnho poems). Evidence of the close relationship that linked jongleurs, troubadours and soldadeiras in the same sphere of textual production, as well as the relevance of the soldadeiras in the tradition, is that this social group is the most written about in the Galician-Portuguese satirical corpus. Sometimes, soldadeiras remain anonymous; others appear with their names. Those recorded are varied, significant and almost always unidentifiable, able at times to correspond to the same person.
Maria Perez, a Balteira, is the most important soldadeira, both for the number of cantigas dedicated to her by poets and the high profile that she acquired in the texts.
The name and surname are certainly common. Lollis made her known in his Romance literary criticism and at the beginning of the twentieth century the Galician humanist Martínez Salazar provided a wealth of information on her existence. He identifies her with a certain ‘dona Maria Perez’ (she does not appear styled as a Balteira) who is recorded in a document belonging to the Monastery of Santa Maria de Sobrado, dated 1257, in which a woman hands over some lands that bind her to that monastery.
Dona Maria Perez therefore, daughter of don Pedro Joham de Guimaran and dona Azenda Pais, ceded a maternal inheritance in exchange for 230 soldos (solidi) and the annual supply of important quantities of provisions for her house. In exchange, the monks promised to bury her in the monastery and to say mass for her. Three pieces of information can be deduced from the document: first, she was of noble birth, a status that would contrast with being a soldadeira; second, she held properties in Armea (a village located in the province of A Coruña); and, last and most importantly, she was preparing to set off on a journey to the Holy Land: ‘ela e cruzada se for na cruzada’, the monks had to pay her 200 soldos (solidi), nevertheless 10 soldos (solidi) should be paid by her if she failed to go. The reason for this stipulation is unknown: it could be a penance for not having gone or as a payment for someone else to travel in her stead.
(...)As hard as it is to believe, in spite of the evidence, that both conditions – being born of noble birth and the profession of soldadeira – could co-exist in the same person, it appears that she was a noblewoman with the profession of soldadeira."
Corral Díaz Esther, "Maria Balteira, a Woman Crusader to Outremer" in: Women and Pilgrimage in Medieval Galicia
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