Labor's CGT Driving Aussie Investors Overseas

[Black Orchid]

An increasing number of Australian investors are looking to leave the country and move to Dubai to save on tax following the federal government’s controversial capital gains tax overhaul.

Perth man Patrick Mullally is going “all in” on the United Arab Emirates. The 36-year-old real estate agent recently sold his home in Perth and is in the process of selling his investment property in the city, with plans to reinvest the funds in the Middle East hub.

Mr Mullally visited Dubai for the first time in January and made the decision to permanently move over in March. He sold his Perth home earlier this month, telling news.com.au the government’s CGT changes were a major factor in his decision to sell his Australian assets.

“I wanted to sell it and then with what was happening with the government with the CGT tax [changes] they’re going to bring in, not that that affected my home of residence, I just thought if I keep holding on to it, even though I was going to get someone to rent it, if they change the law again in 12 months, I’ll actually end up losing money,” he said.

“So I’m better off just getting out now, getting that cash and investing it over here.”

https://www.news.com.au/finance/money/t ... d97f39f80b

^^^ one of many! Labor loves to spend our money and when they spend too much of OUR money they try to tax us more and more and more whilst feathering their own nests.

On Sunrise this morning Barnaby Joyce asked Tanya Plibersek how many blue collar workers (those they pretend to represent) were in their party now and her mouth flapped around like a guppie not being able to answer. Uh uh uh uh uh! None is the correct answer.