Steph Chalmers

There's also a small business aspect to that, which I think will cause a lot of small businesses, if they're operating in a trust structure, to need to go and speak to their accountants and

change that structure.

So yeah, I think there's going to be a lot of work for the accounting industry, as you say.

Yeah, I thought it was interesting, obviously, because it was what I was looking at.

But I think that kind of immediate criticism that we've sort of heard from people who were investing in shares saying, we're getting caught up in this CGT crackdown that's really targeted at property.

The budget papers contained some modelling based on Treasury, ASX and ABS data, which actually showed that they think the 50% flat CGT discount, which was the current settings, have actually mostly undercompensated investors in the share market.

So I think that was obviously...

the government being alive to that line of criticism and wanting to put some data in there to say that, hey, you might actually end up being better off.

And there was a whole table kind of listing, you know, if you'd held for two years, five years and 10 years and going through

all the different asset classes.

So all property, then houses and units and the all ordinaries and the ASX 200 and showing that really it is investors in houses that have been the big winners from this CGT discount as it's existed.

Yeah.

And that there's been periods of time where investors in the ASX 200 will have actually been better off under this inflation indexation method.

So I thought that was interesting.

Obviously, not everyone just invests in the ASX 200.

There's obviously investors who are particularly higher risk investors or chasing high growth.

So they will obviously be harder hit than if you just looked at the broad ASX 200 index.

So

Yeah, I think that debate is going to be interesting.

But really broadly, my takeaway from it was that this is about kind of incrementally moving towards some sort of change to the way we view the distribution of things.