Special edition - The new tax changes are bigger than you think – Expert Breakdown

With the recent changes to negative gearing, the 50% capital gains tax concession and changes to business trust taxation, our expert Leigh Harry, joins Michael and Gareth to paint the true picture of how these changes will impact you. MARKET WRAP 0:00 Federal Government Budget Tax Reform – MASSIVE IMPACT 3:37 Off the back 4:25 Interest Rates, Inflation, Unemployment are all under the pump!! 6:30 Noble St case study 7:00 Commercial Property May be the Winner 8:10. Thanks to our real estate agents LEIGH HARRY 8:10 The tax reforms will be a boon for some professional service providers and a DISASTER for small business. 11:50 How much will my tax go up? 12:51 Companies paying an extra 30% tax and individuals up to 62.5% 13:53 Sole traders are in the gun! 15:08 This is not a tax on the wealthy, it is a tax on small business 16:07 How will the new negative gearing & capital gains changes impact your property portfolio 18:27 Will the tax reform package get through parliament? What will change and when? 22:40 And no one knows the detail! Plenty of reasons to panic! 23:44 There is reason to panic! 25:30 Don’t forget the death tax! 28:18 Tax on top of tax! 29.00 It is all focused on taxing residential property – but it won’t help first home buyers! Appreciation and thanks to the following real estate agents who were most generous in their sharing of information: Joe Girgic, Shane King & Mark Mayfield – Harcourts North Geelong Jim Cross & David Cortous – McGrath Geelong and Armstrong Creek Matt Plunkett – Buxton John Moran – Whitford Lisa Emanual & Michael DeStefano – Gartland Andrew Prowse – Darcy Jarman Tony Slack – Buyers Advocate – Geelong Real Estate Advocate John O’Brien – Buyers Advocate - Henning Property