Anyone considering leaving?
Yes, I know this is not legislated yet, but I am already looking at the exits. I am 29f on $255k base + $25k bonus, husband on $210k. Straight PAYG, no loopholes. We grew up poor and spent our early 20s scraping for a shit house that is now fully paid off. We also have a $1.5m investment property ($900k loan) that is negatively geared and $200k in ETFs.
I don’t mind paying tax, but the ROI here is broken. For the general population, the system is fucked: people are still paying for GPs, dental is not covered, and wait times are blown out. It is frustrating to fund a system that fails to provide basic services.
The Budget proposals feel like pulling the ladder up for young workers. Specifically, scrapping the CGT discount for indexation takes away one of the only tools a PAYG earner has to get ahead. We are talented at our jobs and want to work hard, but why contribute our talent to this economy when we could go somewhere that rewards it?
I have zero intention of working until my super is released (watch that age go up too 🤣). These jobs only pay this much because of the immense stress involved. We are also on track for the $3m super cap, but it just looks like another "success tax." My heart goes out to those struggling, but punishing young workers who want to get ahead is not the way to fix this crisis.
Anyone else in a similar boat and looking at moving overseas?