Stephen Mayne

And if you can later live in it or one of your kids can live in it or –

That's the game.

So I don't think you're going to get negative gearers flipping.

But I do agree with the argument that it'll prop up the purchase price off the plan and the secondary market will be weaker.

So don't expect to be doubling on your new apartment anytime soon.

And apartments are the most affordable part of the market.

So a lot of people's first purchase is an apartment.

So I hope we don't see massive growth in apartment prices.

I mean, people are going to be able to get into a home.

and rent, we need more construction.

So hopefully we will get investors supporting off-the-plant purchases that make projects stack up economically.

And Harry can go out and build a few more 10,000 apartments to add to his $29 billion wealth or whatever it is.

All right, your turn, boss.

I'm surprised.

That's the bit that I found the most objectionable in the whole budget was that they went for this flat 30% no matter how poor you are.

Although as one of our questioners has pointed out, there is an exemption if you're a pensioner.

So if you're a pensioner, the flat 30% doesn't apply.

So this person has written in saying, if I'm a self-funded retiree, why is my neighbour who's on a part pension being taxed lower on their capital gains?

I think the principle in taxing surely should be consistency and I would have thought consistency whereas you don't discriminate between labour income or capital income.

Your tax-free threshold free, $18,000, applies whether it's capital or share.