In Australia, the way people earn their money affects the rate of tax they pay — and top earners have a very different income mix from everyone else.

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.

  • fizzle@quokk.auEnglish
    16·
    28 days ago

    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.

    • eureka@aussie.zoneEnglish
      2·
      28 days 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.