Australia moves to tax unrealized capital gains

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Australia's Unrealized Gains Tax Will Be A Lesson In Economic Suicide | ZeroHedge

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I’ve spent years warning about the economic dangers of policies that attempt to tax wealth before it’s realized, and now, like a slow-motion train wreck, we’re about to witness exactly why those warnings matter.

Australia’s new move to tax unrealized capital gains is one of the most reckless policy decisions I’ve ever seen — and keep in mind, I had front row seats to an “Inflation Reduction Act” that added more than $1 trillion in spending.

Taxing unrealized gains is equal parts outright f*cking mathematically insane and cut-and-dry authoritarian. And while I’m appalled by the policy itself, there’s a perverse part of me that’s almost glad it’s happening in Australia first—because the disastrous results will be on full display for the world to see.
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Is Marx Carnage itching to do the same?
 
Upvote 22
Taxing wealth that doesn't exist.
Why not tax me at birth for my expected lifetime earning potential and I have to pay it all up front? Oh, I can't because I'm an infant? Well, they're kind enough lend it to me and I have to spend my life paying the compounding debt off.
If I'm lucky, I'll live longer than expected and get a month of freedom!
 
what is next a tax every time i take a shite ? i see taxes going up but i see services at the lowest quality in my entire life . idk how about just manage the money you already rape from us properly and stop living like kings on the public dime . they throw money away at frivolous things for the last decade. every time some government types fly to europe for a summit we get a bill for hundreds of thousands of dollars for food and booze . remember when bev oda put a 14 dollar orange juice on her tab and it was a national scandal? they have no value on our tax dollar and think we can be squeezed endlessly . if you ran your house like the government you would be sleeping in a cardboard box withing a year
 
There's a sewer charge on my water bill related to how much water I use. I used to work for the water system and I know that the vast majority of the money the city charges for water goes into general revenue. It takes a small percentage of the money made from water to maintain the system. Therefore, I consider most of the money that I pay for water, and the related sewer charge, an undeclared tax. So, yes, I'm taxed on taking a shite.
 
Next will be unrealized income tax. You could have worked two jobs so you will be taxed for two jobs.

Once again the only solution is mass noncompliance and lynch mobs. Truthfully they are the only real solutions to most of our problems.
 
How do you tax unrealized gains? I'm baffled. Carney is a money man, I doubt he's that stupid.
 
I buy $10,000 worth of stocks in January 2025.

Come 12/31/2025, my $10,000 investment has grown to be worth $13,000.

I have to pay capital gains tax on my $3,000 "gain" even though I haven't cashed out. My stock could plummet to zero the next day but it wouldn't change the fact that I owe taxes on that unrealized gain during the 2025 tax year.

(just realized you may not have actually been asking how it works, but I already typed all that so I'll roll with it.)
 
@HuntStevenson doesn’t have to make sense, just has to bring them income. Just like they want to and have examined how to tax unrealized capital gains on your primary residence. They’ll just make up some bullshit and implement it.
 
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