Everyone’s talking about it. Many are ANGRY especially medical professionals. But what does it mean for you?
One thing for sure. IT probably affects most medical professionals because they love property and operate a trust or two too
But what does it really mean?
The Federal Government went a bit nuclear with this year’s budget and not everyone is happy. There were 3 major changes, and it just looks like a big tax grab with a bit of wealth bashing on the side.
Will there be a rebalance of wealth? Will it make climbing the housing ladder easier for our children? Err probably not.
The budget failed the 4 things I think a budget should achieve but it does not mean everything was bad.
But there is no doubt. This government thinks working for hours is better than investing. That is a worry and goes against everything that those who know and understand money say. So, the question is who knows better? Our government or the likes of Warren Buffet, Bill Gates, Elon Musk. Mark Bouris and Richard Branson. I know who I would listen to.
Here’s why you should listen:
- What are the four question I ask after every budget and why I think this budget fails? And it’s not about wealth…… it’s about the overall tax burden and living an easier life.
- What are the changes to negative gearing? It’s not a bad policy
- What happens with capital gains? Why the need to change what was working?
- Why do the government hate trusts so much? Not everything is about taxes
- Has your life become more complex? You bet – and you realise it
- Why some of the changes make no sense
- And yes you will probably pay more in taxes and on professional fees too.