Looks like taxing of unrealised gains in superannuation is coming. This is going to be a nightmare.

Snippet below from AFR:

Prime Minister Anthony Albanese’s victory on Saturday also made it likely Labor’s stalled plan to double the tax on the earnings from $3 million-plus superannuation accounts, including unrealised gains, will now be implemented as part of its second term agenda.

With counting still underway, Labor was poised to increase its Senate numbers by at least three to 28, meaning it and the Greens, who have 11 senators, will control the upper house without input from crossbenchers such as David Pocock and Jacqui Lambie.

The Labor-Greens senate majority also gives the government the numbers to target other aspects of middle-class wealth accumulation, such as trusts, should it so choose.

While it looks dire and disastrous for the Libs at the moment, I wouldn't write them off. 3 years is a long time in politics, and Drumpf's example in the US shows the dangers of underestimating a political force just after a sound electoral defeat.

The piece of information that has sat in my head all morning was what appeared to be an offhand comment in one of the opinion pieces that Liberal lost seats to such an extent, not only to Labor but also the Independents, that they can’t win the next election.

And if that’s the case. What does this mean for longer term policy that may have others been changed / removed etc if Labor were to loose at the next election? Good or bad, might we now see the impact of what those policies can do?

@topowl yea a futile shrug sums it up pretty well,

There was no clear policy difference, All the liberals had was the 12 month temporary excise cut.

And a power plan so far in the distance it doesn't matter.

They will never fix the housing demand side of things (net overseas migration) because they all have a self interest in the price of houses and so does most of the economy.

First time for me it has felt like a waste of a vote, both sides serving up a steaming pile of

Further down the renewables path we go which seems to be not working that well, lets stimulate the housing demand a bit more and see if that helps the prices.

an election fought by 2 pretty unappealing characters for a pretty unappealing result.

you had me at “steaming pile”

All great points everyone, particularly how this was just another election won by spending money that we don't have (this applied to both parties of course, even the dismally run campaign by LNP still had buckets of handouts). I found the whole ordeal to be very Ho Hum.

Where to from here? Maybe go the @Strawman summary of the Berkshire AGM and Buffett's sage words of advice: You can’t keep writing checks without worrying about the balance… Eventually, the world starts asking questions—and you may not like the answers.

So, here's a simple 2-step way forward for our government, not just for the newly elected "mandated" Government (BTW labor, mandate does not mean everyone wants you to enact everything you proposed, it simply means you ran a better campaign then the other suckers in this election):

1. Start actually building accommodation, social housing, places of varying size and pricing and, in a reasonable timeframe, turn a Sellers' market into a Buyers' market and a Landlord's market into a renter's market.
2. Stop offering tax breaks, irresponsible spending and generally just writing cheques and start paying down our deficit.

Ok, maybe that's a bit too complex for our very smart politicians of all persuasions, but I'll struggle to make this any simpler. Anyway, that's enough politicizing of the SM Forum from me. I'm off to find the next 10 bagger while "Rome Burns".