Larissa Waters

I'm like, cry me a river.

And their rents might increase because we don't have a rent freeze nationally, like the Greens have been calling for for years.

Back before COVID days, we've seen rents absolutely skyrocket.

And every time there's a rate rise, you see rents go up.

And

the rents never go down.

Like house prices go up, rents go up, but sometimes house prices come down, rents never come down.

And again, nothing in this budget to help renters in that situation.

It's like the government is just completely ignoring 30% of the country, most of whom are young people.

I can try.

So it's deliberately complicated and it really won't apply to any normal person.

This is about people who have an absolute ton of assets.

They've got homes, they've got shares, they've got land, they're doing really well for themselves and the tax person, the tax man's been helping them so far.

So at the moment when they sell one of those assets and make squillions, at the moment they only had to pay tax on half of that profit.

And that's been changed now to you will only pay tax on the real rate of increase.

You will basically cancel out the impacts of inflation.

And so some of those very, very wealthy asset hoarders are crossed because they think they might pay a little bit more tax.

We've seen scenarios that show, well, it really depends on what your asset is and how wealthy you are.

You might actually end up paying a bit more tax.

So there seems like a lot of complexity that in fact is really just about a small group of people who have squillions of assets.