Matthew Harris

And again, on most social media channels, the algorithm must have me because I can't open it up at the moment without seeing some guy on a whiteboard talking about how trusts and bucket companies aren't working anymore.

That's an Australian thing where they clear up money into a company to get a lower rate of tax.

So the government's, we're not covering this because it's a little bit complicated, but in short, there's been other changes to the way that trusts are used and bucket companies are used that mean that a higher rate of tax will be paid by nearly everyone using those structures.

But though, you know, you can bet that any savvy person out there with some form of income to manage will be talking to their advisors and getting advice.

And I've always thought of tax and the way that it all works is kind of like a bit of a game, for lack of a better analogy.

You've got the Tax Administration Act and the Income Tax Act, like the rule book.

Then you've got the two players.

So you've got the government and you've got the taxpayer.

And both sides are trying to get an outcome.

And you're allowed to manage that outcome however you want as long as you don't cheat.

get it right correct and there will be some like set formula that applies and like what happens and i don't know enough about it just yet but what happens to those losses for example because common sense to me if you can't claim them as you go through you should be able to claim them in the end those accumulated losses and then like how stupid are they getting about it right because like insurance inflates every year rates and inflation you know there's inflation on all the stuff all the little components that make up the cost of owning that property over time yep yeah it's a bit dumb

Yeah, and I find like...

I get the reason for a capital gains tax in some form, but also I look and I go, it's kind of a weird thing, right?

So you go to work every day, you earn money, you pay tax on that money, and then you invest that money, which grows, and then you get taxed again.

But the point of it is that...

Anyone who has, we go back to those, like the reason you're buying assets is for them to go up in value over time.

So your shares are going to be taxed more.

And the big one, which we've already talked about in the previous podcast, businesses.

And I find that one, I think of all the things that could have an exemption, I feel like businesses should.

That's like the personal exertion of individuals usually over a long period of time.