u/Aus_Basti

Put together a quick breakdown of what the CGT changes actually mean in dollar terms - three scenarios based on income bracket. Same setup across all three: $500K capital gain, $50K of that is inflation, selling an established property. Depending on your income, you're looking at $69K–$94K more tax on the same gain. That's an ~80% increase across the board, so worth understanding the impact before your next move, whatever that is. 

Still needs to pass parliament - NOT law yet. Calcs make sense to me but happy to be corrected - especially on my interpretation of the 30% floor for lower income brackets.

https://preview.redd.it/mgszft7g0p0h1.png?width=734&format=png&auto=webp&s=84727e7a500c16cb0e4f8341aba1dbd164f629db

Went to an auction on Saturday, just to watch. The auctioneer spoke extremely fast, almost deliberately so. I could barely keep up with what he was saying. There were 5-6 agents there, all in suits, walking back and forth, on phones, talking to each other (they represent different buyers / the seller?)... It felt like a completely different game to the one the regular buyers were playing. The couple next to me were discussing their max bid with their parents, just seconds before the auction started. That conversation probably should have happened days earlier?

Even just watching, the pressure was insane, even my heart was pumping. Anyone else been to one just to watch? Curious what others have observed.