If you've got over $3 million in your superannuation fund, you will now be into the future. Have an unrealized capital gains tax on the amount above 3 million. The governments have made it so that a lot of politicians, bureaucrats and judges are exempt from the tax. Now, how is that fair? What impact does this have on Bitcoin? Well, it'll have a significant impact. Now, the question is, Well, should I still allocate to Bitcoin in an SMSF? The answer is, why would the Labor Party trying to bring in this unrealized capital gains tax and why do it? If they're going to cap all this backlash, they're going to do it because they simply cannot. I'm Matthew Fraser, and this is crypto collective. After making millions with Amazon and E commerce, I realized that if I was starting again today, crypto would be my first choice. I'm here to help you take your first steps and build real wealth. Ready to set yourself up for life? Let's go. I'm going to be talking about something that is so controversial now that you are definitely going to be throwing mud at me or maybe giving me a great big round of applause. Who knows? But stay tuned in this episode, we're going to be talking about Labor's unrealized capital gains tax, what I call the theft of retirement savings. I even go as far to say that labor right now are being a criminal cartel. So hey guys. My name is Matthew Fraser. Welcome to the crypto collective. Let's jump straight into this unrealized capital gains tax, the theft of retirement savings. Now what it is we go back. I've been talking about this tax for at least 18 months, right? And nobody else was talking about it, right? It wasn't on the TV. It wasn't, certainly on social media. And I only found out because my accountant told me, he said, Matt, this tax is going to come in. And I at the time, I thought, are you serious? This is crazy tax. Right now, for those of you who don't know, what is the unrealized capital gains tax, okay, right now the proposal is for superannuation funds, including SMSF, even if you've got Bitcoin. So for all the people who are listening to this, who are holding Bitcoin or cryptocurrencies in their SMSF, this applies to you. So if you've got over $3 million in your superannuation fund you will now be into the future, have an unrealized capital gains tax on the amount above 3 million. That means that if you're if your account grows from 3 million to 4 million, let's just say in one year, right? There's a proportion, there's a proportionate amount that you will have to pay within the million gain in unrealized capital gains tax. Let's just say the number is, just to make it simple, $100,000 in tax. Now that tax is applicable even if you have not sold the asset. So normally, what happened in Australia is, when you sell an asset, there's a capital gains tax that may be applied to that sale, right? Triggers, it triggers a capital gains tax. So what's going to happen is, when you normally sell the asset, that's when capital gains tax is applied in Labor's policy, it's even if you, if it's actually when you don't sell the asset, you still have to pay your tax. Now you might say, well, that's that's no problem. I just just pay the tax. Now, if you're holding things like Bitcoin or other cryptocurrencies, that's what we call a liquid asset. So yes, you could now sell, in this particular case, $100,000 worth of bitcoin to then pay the tax. But for those people who may be holding illiquid assets, such as properties, and a lot of Australians hold, you know, commercial or residential properties in an SMSF, you may be still liable for $100,000 tax if you had a game. And how you gonna pay it? It's two ways to pay it. One is that you literally pay it out of your your company account or your personal account to pay the tax, or if you don't have that $100,000 just sitting around, you're gonna have to now sell the asset. And of course, the problem with a property is you can't just sell a brick, yeah, or just section off a portion of the property and sell the $100,000 worth. You're gonna now have to go through the whole rigmarole of selling that asset to pay the $100,000 and of course, by selling the asset, you're then going to incur another capital gains tax, because that is now another trigger. The whole thing is completely backwards and batshit crazy. So in recent months, I've ever since, well, labor won the election. Now it's been taking center stage. The unrealized capital gains tax has been on the news. It's been all through social media. Wealth Fund Managers are against it. Economists are against it. Guess who else is against it? Paul Keating. Paul Keating, who is the former prime minister and former treasurer of Australia, he was the instigator of super. He was the one that mandated superannuation for all Australians. He's against it, right? He's furious about he cannot believe how stupid this tax is. Who else is against it? Even Labor Party MPs are against it. And you say, Well, hang on a second, the government is bringing it in, yeah, but within the Labor Party room, there's factions right. There's the left and the right and in between. And not everyone who's in that party room supports this tax. Okay, this is not just a yes, we all agree. It's fantastic. No. So there's some Labor Party MPs. And I'm telling you this because if you're a labor voter or you're a labor supporter, sometimes you think, well, it's the policy, and therefore I have to kind of like it. I can't really stand against it. What I'm telling you is that there are people who are labor MPs and former labor politicians like Paul Keating who are completely against it and think it's batshit crazy. Okay, so don't feel bad if you're like, you know what? I don't really think this tax is that good, right? Because many other people, including other labor voters and labor supporters, also think it's bad, too. Okay, so this is not an attack on Labor Party voters or Labor Party supporters. This is an attack on the policy itself. Now above that, what's going to happen is Labor Party, so they've won the election, and now they're like, full steam ahead, and because they won pretty convincingly, it was one of the best election results for labor. Congratulations. In recent memory. They're like, You know what? We're gonna just roll this tax out, right? So now, all of a sudden, it's all over the news, as I said, to get this through Parliament, though, so it becomes law, they have to partner with the greens. Right now, the greens, and I'm just going to put it out there, they are the worst party you could possibly vote for, right? And I'm going to come to that later as to as to what are their policies regarding your wealth, right? You're sitting there right now thinking, I really want to build a great financial future for myself and my family, or certainly your family, in retirement, and so therefore I want to do the right investments, and I want to stack hard if you're into Bitcoin, you know you want to buy more Bitcoin your super fund or your SMSF, but I'm going to tell you later on what the Greens think about that, and you're not going to be too happy about it. So right now, we've got the Greens have to support labor in the Senate in order to get the law through right. And my understanding is will be put through in about August of this year, and then it will be backdated to July one. So essentially, if all goes through July one, this tax will now apply. Now

you're going to think, Well, Matt and I see this on my social media pages, right, which are going hot right now. My tick tock especially is the place to be if you want to go in for a battle, right? A battle about this tax. So it's in social media world. People put it on the line. There are people in there today who support the tax, and there are people who don't support the tax. And there's, there's a big feud going on right now. So go into my tick tock. It's, I'm Matthew Fraser, go and check it out. And what I can tell you is that the people who are against it are people who don't even have over $3 million in their super Yeah. And you're thinking, Well, why would they even care? Why would they care? That's that's not for them. It's for those rich people, right? They're rich people. Well, it turns out, in order to get this law through, the Greens have to give support to labor the greens, however, their proposal, it's not $3 million support. They want to lower the threshold where everyone will get sucked into this at $2 million now you think about it, $2 million that's basically the average price nearly of a house in Sydney. It's not that much. And what's going to happen too is currently, with Labor's policy, at 3 million, it's not indexed, which means that every year it doesn't go up with CPI. That means that it's going to stay at $3 million if labor gets through, and those who are now in their 20s, by the time they get to their 60s, they're going to be over $3 million and they will get caught up into there. So if you're sitting there thinking, This doesn't affect me, it will affect you. Not only that, this is my personal opinion. I think this is a test run. This is a test run of unrealized capital gains tax. Keep in mind, Australia has never seen an unrealized capital gains tax ever. It's a test run to see how far do we really push back? Because if we don't push back now, well, that was easy, wasn't it, we just rolled out that super tax people had to pay it. Labor pays anything. I know we'll do next. We'll apply it to trusts, we'll try. We'll apply it to companies. We'll apply it to individuals. And this could just keep going on and on and on all the way. Now, I know you're going to say, Matt. Is totally crazy. Never happened. Well, you know what? Labor said they would never change the super rules either. So just let that sink in. Okay, they said they would never change the super rules. And guess what they're doing. They're changing it. This could eventually lead to taxing the family home in unrealized capital gains tax. Now, I know you're thinking that would just never happen, Matt, but hear me out. Why would they even do that? Okay, it becomes down to the the culture and the mindset of not just labor, but in particular, the greens. Now, I said before, I'm going to tell you what, what the greens are thinking. Let me show you. I

said before I was going to show you what the greens are thinking. This is actually from the Greens website, right? Remember, I said to you, before they want to lower the threshold down to 2 million, I think they'll eventually want to try, try and lower the threshold down to 1 million, and then who knows from there, right? But this is straight out of their website. Policies number 19, they want a secure and expanded revenue base is required to address economic and social inequality and the climate crisis. I don't know why they even threw that in there. Revenue required should be raised by greater taxation of polluting industries, resource extraction, economic rents and private wealth accumulation. That's how they should get more money through private wealth accumulation. They are against it, right? So if you're sitting at home thinking, I really want to do the right thing, I want to put my money into super I want to build some wealth through Bitcoin, through crypto, through property. No, you're not allowed to anymore. You are not allowed to do that because, and I'm gonna go as far as say, these guys are communists, right? And I know you're gonna, I'm gonna get so much backlash now, but the backlash has already happened. It's all over, tick tock. But go for it. Go, go. Your hardest. These guys, the greens, are communists of the core. That's straight out of their policy documents. That's what they believe in. So why would the Labor Party, though, be trying to bring in this unrealized capital gains tax? Why? Why do it if they're going to cap all this backlash? Well, they're going to do it because they simply cannot manage the budget, right? There is so many expenses right now, and you think about it, and this is really, I'm gonna have a dig at really most political parties, if not all governments in the past. Where have they? Where has there really ever been a government that's really taken, you know, a machete, if I can say that, to the budget, right, where they've really cut back on things. We didn't see a surplus in Australia since John Howard. Right, where the debt was, I don't know what it was, but it was significantly low. Right now we're talking over a trillion dollars of debt. It's totally crazy. There is not one government out there that wants to curb spending. And of course, the reason why they don't want to curb spending is because people in Australia won't, won't have it. Most people do not want, for example, government benefits reduced if you're on the dole, right? And I, and don't get me started, on the dole, because there's plenty of jobs out there. But if you're on the dole, you will not be voting for a government is going to reduce the dollar or put in things like conscription and things like this, right? You're not going to vote for that. You're also not going to be a person if you are receiving any type of government handout, regardless of the dollar, there's any government handout, and they said, Look, you know what? We have to cut that back. They're not going to get voted in. If you're a government that's going to say, look, we need to cut back education budget, the health budget, the defense budget, anything like that. You're not going to get voted back in. So the only way for these governments to get voted back in is to keep giving out the candy to people right, which is actually wrong. This goes to the core of what I believe in, which is I believe in, certainly, freedom of speech, freedom of association, freedom to make as much money as I possibly want. I also believe that you should not be taxed into oblivion, right? I do not believe that you should have your wealth stolen through taxation. That's what I believe in. Why is that other countries in the world can do zero taxes? Wealthy countries with great services or not, you're going to say there, oh, but we've got a great healthcare system and an education system. Is it? Is it actually that great? I don't know. I'll come back to that maybe in a second, but there's a lot of other countries out there in the world that have zero tax rates and do just fine. Okay, so we, for some reason, we've been, we've we've now been given this unrealized capital gains tax by a government who is who cannot manage the budget, and that's fundamentally it. Now this, this, the other thing, apart from this, is another reason why people are so pissed off. They're they're livid about it. I don't want to say the F word, but they're livid about. Yeah, and that is that there are certain segments of our community that are exempt, right? You can't make this up, right? So the governments have made it so that some politicians, I'll say some, but a lot of politicians, bureaucrats and judges are exempt from the tax now. How is that fair? Because Jim Chalmers is out there right now saying we need to bring in this unrealized capital gains tax on superannuation to make the system fairer, it's got to be fair for everybody. Is it? Why we so intent on bringing people down to the lowest common denominator rather than trying to lift people up. There's no programs right now of how to go and make more money, how to get a second job, right? How to get ahead in life. Now, I'm not saying that Australia is perfect, or the the economy is perfect, or the money system is perfect. In fact, the reason why people buy bitcoin is because they fundamentally have a distrust in government, big media, or say big pharma, definitely a big distrust with Big Pharma, and obviously mainstream media, and I say government. So that's fundamental, really, to the Bitcoin movement. That's why we Bitcoin. But you've now got under Jim Chalmers saying we need to make this system fairer, and that's why we need to implement this tax so if that's what he is saying, right? I've already told you why they're actually doing it because they can't balance the budget. Someone the other day said it's actually because they're spending so much money on renewable energy that is just going down the toilet. It's a great big money pit. And so therefore, they have to find money from somewhere else, because they're on this net zero. What should I call it? They're on a trajectory for net zero at all costs, right? Doesn't matter what you say. They're doing it. And so they have to find money from somewhere, and that's where they're trying to raid people's retirement savings. Hey, just quickly, if you're ready to dive deeper into crypto and Bitcoin and build real wealth, join my free crypto collective community. It's where I share exclusive insights and strategies and live discussions to help you succeed, whether you're a beginner or scaling your portfolio. Click on the link in the description and join us today. Now, back to the episode. Okay, so you've got a case right now where all these other people in society are now exempt from this unrealized capital gains tax. And you're right. You should be pissed off. Even the Labor Party people are pissed off, right? Because they are now going to have to be suffering under this particular policy. But it goes even further than that, because not only are those people exempt, Jim Chalmers and Albanese aren't even talking about it, they're trying to avoid the fact that those people are exempt. Now, if they do get pushed on it, they're going to say, Yeah, but they're exempt. But, you know, there's nothing we can do. It's constitutional. So basically, what they're saying is the government has written the rules essentially for these people to be exempt, and therefore they can't be exempt, because it's now the law, right? What Jim Chalmers and Albanese should do is, as a part of this particular policy, is just put it in, into the into the law, and say, Okay, we're going to bring in an unrealized capital gains tax. And all the people that are currently exempt will no longer be exempt. Let's do that. Yeah. Now, could you imagine what happens then? Because I think there's going to be a lot of court cases, particularly from judges about that if that was to be implemented. Now, if you are opposed to I was going to drop this in. Now, if you are completely opposed to it, and you do want to sign a petition to voice your concern, Jeff Wilson from Wilson asset management company. If you google him, Wilson asset management, he's got an online petition. I just urge you to go ahead and do that, at least put your name down to say that you are opposed to this. One of the things that I do all day, every day, is I've now, funny enough talk about this all over my tick tock and Instagram channels, and it garners so much attention right now is probably it's the hottest topic. One of the videos I did was about, Hey, how can we avoid this tax? Yeah, and I hate to say it, but it is very, very difficult to avoid. Now, a lot of the people that I represent are in the Bitcoin space, people who have moved their industry, super funds, or retail super fund money over into an SMSF and allocated to all to Bitcoin. As you guys know, I've been watching this for a while. All of my superannuation is in an SMSF, and I've exposed it all to Bitcoin. So how, what? What impact does this have on on Bitcoin? Well, it'll have a significant impact. Big more so because a lot of the people who I represent, who even have modest amounts of Bitcoin now, right? Because their superannuation is exposed to Bitcoin. The future forecast for big. Coin. This is not financial advice, but it's expected to be between 30 to 60%

compounding annual growth rate over the next 10 to 20 years. So we are talking quite significant money, and I know what you think. Well, what are the what are the numbers? Well, I just happen to have my compound interest calculator here on me. So let's just give an example, if you had $50,000 only $50,000 right, tied up in Bitcoin, and if it was compounding at 50% per annum. Now keep in mind, I know I just say, Oh, 50% the last five years have been 60% per annum average. Okay, so I'm saying 50% over 20 years, and let's just say you didn't put a single cent in further right. Not a single cent. It would be $166 million let's say, though, Matt, you're totally crazy, that's never going to happen, even though it has already happened, right? Let's just say only does 30% right, which is considered the low, a number you would have $9.5 million so what's my point? My point is, in either scenario, whether it's 9.5 million or 166 million, you're gonna now have to pay a lot of this tax, a lot of tax, and that's why I call it a theft of retirement savings, because that's what it is. You've allocated this money. A lot of my constituents have taken a risk, like there's nothing guaranteed with Bitcoin, but they've done the research. We believe that Bitcoin will do those types of numbers into the future. So we've allocated to Bitcoin because we've taken the risk. Why should we or anyone else be penalized under this unrealized capital gains tax? The answer is not, oh, well, I'm just going to put it into a fund that doesn't make over $3 million that's ridiculous, right? And if the Greens get their way, the radical extremist greens, if they get their way, is going to be down to $2 million and who knows where after that. So as someone who represents Bitcoin holders in SMSFs. This is going to make a huge impact. Now the question is, Well, should I still allocate to Bitcoin in an SMSF The answer is, yes, okay, you're still going to do far greater by even with the stupid tax, right? I don't approve of the tax you got that. But even with the stupid tax, you still do far greater by holding in a better performing asset than what you would if you held it in an industry super fund doing like eight or nine or 10% even, right? So that is the answer. All right, guys, I talked about how my tick tock is absolutely blowing up right now, and you should go check it out. Let me just show you some of the comments that have been the most explosive on tick tock. Now this one here was from a person called Starbuck, and he says, Absolutely, do a post on what countries are better for us to retire in, considering labor is trying to steal it money. I also want to know how to set up an offshore banking account. Well, I can't tell you how to set up an set up an offshore bank account, but what I can do, though, is tell you just some of the countries which you might just find interesting off top, off top. Now, which have zero tax or low tax? Now, you might consider these to go to do your own research. I'm not saying they're the best country live in, but here you go, United Arab Emirates, right? That's one Monaco. That'd be a nice place to live. Vanuatu has zero tax, right? You just live on a tropical island in the Pacific, how beautiful. Brunei, Qatar, Bahrain, Cayman Islands is one which we probably all know of. Palau. Where's Palau? It's a little tiny on just south of Japan. And in the Pacific, in that section, we've also got St Lucia, and this was one that I I was absolutely gob smacked at Nauru. Now, can you remember Nauru? You're thinking, I know the name, Nauru. Where? Where does that name? It was where we sent all the economic refugees, the ones who were trying to get in here on boats. We did them a favor. It turns out we did them a favor. We sent to Nauru zero tax in Nauru folks. So maybe you want to travel to Nauru. Yeah, not financial or lifestyle advice. So here's another comment from tick tock, and this guy who's called, stop complaining Australia. That's That's his name. He says, SMSF, investors are bludgers far worse than the unemployed ever were. I mean, could you imagine actually saying that? So SMSF, investors who work really hard put funds away for their retirement, take chances. Most often they're in small business, right? So the small business community are essentially the, I don't say, the backbone of Australia, but they are right. These are ones who create jobs and opportunities in Australia who keep the economy going. It's not the bureaucrats, right? The bureaucrats can actually just get out of the way. We could get rid of most bureaucrats do another reason why Labor's bumped up the bureaucrats in Australia, right? To get to get more votes, just saying. But this is the type of mindset that's in Australia, right? Out that actually think that people who invest in SMSF are basically crooks. Here's another beautiful one. This guy is Gil Wilson. Now, I actually found out that Gil Wilson, sadly, works in the healthcare system, right? Because he responded to this, but he says, You are corrupt. The moment you say labor is a criminal cartel, which I did shows your utter bias. How do you come up with your mindset? It is going to be just 80,000 people. Our taxi system will evolve over time. So this guy is saying, well, that I Well, he's right. I did say that Labor Party was corrupt. It's corrupt to the core, and a criminal cartel. If they're trying to steal people's retirement savings, if you look at it this way too, it's they're actually also trying to steal inheritance. A lot of people who have superannuation want to pass something down to their children. This is a tax now, a theft now on future inheritance, right? That being said, I wouldn't even be surprised if the Labor Party. Now this is maybe because it's a joke, but imagine if they brought in a tax on death benefits. It's a it's a windfall of money that your family will get if you die. There's two things you can guarantee in life, right? Text, attacks and death. Those two things now, figured out how to stuff. All right, guys, look, that's it. There's heaps of comments there. I'm responding to all those in video format. So if you want to join the conversation, you can, let's just think about this as I wrap it up, which is, the tax is coming in. Speak to your accountant or financial advisor about how you can possibly minimize tax within the capital gains. With capital gains coming in. All I can say is I pray that Australia is not completely ruined by this, but I have a fear that it will, and I fear that this tax will spread across other things, as I already said. So we really must do what we can to make sure that this tax doesn't come in. Fundamentally, though you're still safe with an SMSF, and you're still safe with Bitcoin, not financial advice. All right, take care. Bye for now. Thanks for tuning in to crypto collective. If you've enjoyed this episode, the best way to show your support is to leave a five star review on Apple podcast or Spotify, and make sure to subscribe to the YouTube channel so you don't miss an episode. You can also find more of me at I'm Matthew Fraser on all social media platforms. Matthew.