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Top-earning Australians make money very differently from typical workers (www.abc.net.au)
submitted 6 months ago by to c/australia@aussie.zone
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I find it very hard not to feel angry about the unfairness, and intransigence of the wealthy in this country.

Why should I work so hard, to get so little, when these people have a leg up on everything. And I don't count myself as that bad off, in fact I'm, overall, goin pretty well.

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[–] -5 points 6 months ago (1 child)

Sooo... I suspect that this is dramatically misleading.

Suppose you earn $90k a year, you haven't been able to save very much because hey... its tough out there.

Grandma passes away and leaves you $200k in shares, maybe she bought them for $100k 10 years ago.

You sell them so you can have a deposit for your first house.

Boom, the sale of the shares makes your taxable income in the top 10%, but you're still not particularly wealthy.

Yes the CGT discount is shit but this graph just says water is wet.

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  • [–] 2 points 6 months ago

    The subtitle to that graph, from the article:

    While this may be partly explained by a large capital gain pushing taxpayers up into the top bracket in a given year, the government has also been making a case to change CGT as a measure to improve “intergenerational equity” in the housing market.

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