The lowest CGT income tax bracket has increased by an infinite amount, and the highest tax brackets remain unchanged. That is the inverse of taxing high wealth.
How exactly is this a tax on the wealthy, if the bracket they pay most of their tax in has remained unchanged?
I understand the govt are trying to limit wealthy people moving money around to avoid tax, which is a good idea, but surely there's a more targeted way to do that than effectively eliminating the progressive tax system for shares?
I think the other changes are good, but the 30% floor sticks out like a sore thumb and doesn't fit with their "wealth tax" narrative.