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Vince Scully

πŸ‘€ Speaker
552 total appearances

Appearances Over Time

Podcast Appearances

money money money
919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

Well, that would say that you would pay tax on the 3% gain.

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919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

That's the bit above inflation.

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919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

And that's awfully close to 50%.

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919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

So I don't think this is a particularly radical shift.

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919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

Obviously, it changes the dynamic.

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919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

It means you've got to do a bit more calculations.

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919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

But technology is much better.

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919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

What a pain in the anus.

money money money
919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

But the technology is so much easier than it was in 2000.

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919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

All your crypto actually goes up.

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919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

That's the big change.

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919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

So the change from a 50% discount to inflation is not a huge change.

money money money
919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

I wouldn't get too excited about it.

money money money
919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

Sure, if you get a big gain in a single year, that will cost a bit more.

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919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

But overall, over the long term, it's marginal.

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919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

The big change, or one of the two big changes, one of the big changes is that there's now a minimum of 30% tax.

money money money
919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

So when you apply your

money money money
919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

did your indexation to work out your gain, you add it to your income.

money money money
919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

If you don't pay a minimum of 30% tax on that, you'll have to pay 30%.

money money money
919b The 2026 Federal Budget: Glen James talks with Jim Chalmers, MPs, insiders & breaks it down with Vince Scully

So putting that in context, if your other income was 18,200 and you made a $27,000 gain,