People who save diligently, defer spending and live well within their means all their lives so that they can keep themselves off the public purse, should be championed, rewarded and celebrated. But they are not. Government has slapped them with a 30% floor on tax rates...when these people spent decades carefully managing their funds around what was promised to be 'no changes'. This is a MASSIVE change to people who can no longer work - and have no way of making up the HUGE difference that the now 30% floor taxrate for them brings in. (assets outside super of course before some troll comments without understanding the legislation changes). So MORE people will be pushed onto the public purse. And even more will be scrambling to rearrange their assets so that they reach $1 of pension, therefore avoiding that 30% floor. This government has effectively encouraged even more people to NOT save and not try to keep themselves off the public purse.

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I voted for Labor in the last election for the first time in 45 years, after they said they weren't going to touch CGT & trusts , agree negative gearing needed to be reduced to try & reduce house prices for the next generation but the Labor party lied about that also. They always had this on their agenda. Why we needed CGT changes on shares I have no idea. I'm NEVER voting Labor again & will do my best to make sure others don't as well. What should have been reduced is the tax incentives on novated leases which loose billions of dollars in tax revenue so people on high incomes can drive around in prestige cars & EV's are cheap enough now any way & these are rarely even used for business purposes & you can claim on 2 vehicles. Raise the medicare levy on high income earners & tax AI data centres so some of the revenue can be directed into upgrading & fund the change to renewables. This also could be used to lower energy charges to individuals as these data centres will require vast amounts of energy & water. We missed the boat on taxing foreign nationals in mining so let's not on AI. Lastly a micro tax on transactions like rounding up to the nearest 10c would have very little impact & would raise billions & simply added in on card transactions through cashless purchase on Eftpos the same way as the soon to be removed merchant fees & collected the same way as GST.

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HR,I couldn't agree more, why have I been smart with my money for many years, investing for my future,where is the government incentive for being a self funded retiree,really not a smart plan i guess.

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