James Kirby

I don't want to use super for my investments.

I want to succeed in my investments and I want to get them out and spend them and be rewarded, you know.

Before I hit my 60s, which is a government, that's a government determination.

But in the real world, people don't want to do that.

That's probably why the startups have been absolutely kicking about these changes.

Mentioned that in a moment, but because the startup would be the most extreme version of this, folks, if you were a startup, it's not just your investment disposition, but your whole life.

is subsumed in getting this startup to work and then perhaps one day to sell that startup and to have a capital gain.

It's all about capital gain.

And you would heavily have relied upon the reliable notion since 1999 that you'd get a 50% discount on the tax bill the day you got it when you sold your stock or your share in the company.

And that is sort of

annihilated now annihilated I should say so Will you wanted to talk about family trust but they're not in this they're not in the scape hatch here anymore either are they

Because they changed.

Sorry, would you explain to people what they were and what has happened?

It's like a blunt, sounds like a blunt instrument.

They're after multimillionaire investors who had shaped things around family trusts.

Yeah.

And they'll get them, but they'll also get mom and dad, small business owners.

1.9 million people get trust distributions.

And that's part of the, you might argue, they would just go around the corner and get a salary job.

Correct.