Ex ATO Tax Lawyer Reveals Why The New Budget Will Hit Hardworking Australians The Most
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Australian government just decided your life's work should be taxed like a paycheck. And Australians are p*ssed off about it.
So I invited James Meli, ex-ATO tax lawyer with 20 years experience, to unpack what's actually buried in the latest budget.
Here’s how the conversation went:
→ Sold your business after 20 years of grinding? The tax office now treats that payout almost like it's just another wage. Not a reward for the risk. Just more income to tax.
→ Family trusts - the thing your accountant set up to protect what you've built - just got gutted. James called it a sledgehammer to crack a walnut.
→ There's $15 billion in "decisions made but not yet announced" hiding in the budget. Nobody knows what that means yet. Not even James. That's the part that should worry you most.
→ Thinking about leaving Australia one day? There's an exit tax waiting for you on the way out - and most people have no idea it exists.
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