#296 Julian Fayad – What The Budget Means for Business

Yeah, so the story is obviously like many other business owners watch the budget.

Some people don't even care about that stuff.

But over the years, I've realized that as a business owner, you should care about policy in the country.

We've got very ambitious plans and the changes that they do make do directly impact.

We're in a heavily regulated industry, the finance industry, the tech sector.

It does matter what they do.

And so you pay attention.

There was rumors about the CGT changes that were sort of leaked leading up.

And so I was obviously keenly keeping an eye on it.

I thought it was just going to be about property.

Like most people, I was like, okay, I get why they would do that.

I don't agree with that.

I'm more of a carrot person versus the stick.

I think if people want to invest in property, they're entitled to do that.

I've obviously gone down a different path and invested in my business.

So when I heard the CGT and negative gearing changes, I thought, oh, it's going to be relation to property.

It's probably not going to impact me too much.

Then I saw there was no differentiation between whether you're businesses and shares or property.

It was just like blanket across everything.

And I was just blown away.

I was like, how can they simultaneously say that they want to direct investment into more productive assets and then apply CGT changes to businesses? There is no more productive asset in this country that you could invest in other than businesses.

Who's creating all of these jobs? And I think we want to incentivize that kind of investment more so than more passive ones like property investment.

And like I said, I work with so many different mortgage brokers.

I'm not somebody who's advocating for these property changes.

I think they could have done it by helping reduce red tape and cost for new builds.

Yeah, so the story is obviously like many other business owners watch the budget.

Some people don't even care about that stuff.

But over the years, I've realized that as a business owner, you should care about policy in the country.

We've got very ambitious plans and the changes that they do make do directly impact.

We're in a heavily regulated industry, the finance industry, the tech sector.

It does matter what they do.

And so you pay attention.

There was rumors about the CGT changes that were sort of leaked leading up.

And so I was obviously keenly keeping an eye on it.

I thought it was just going to be about property.

Like most people, I was like, okay, I get why they would do that.

I don't agree with that.

I'm more of a carrot person versus the stick.

I think if people want to invest in property, they're entitled to do that.

I've obviously gone down a different path and invested in my business.

So when I heard the CGT and negative gearing changes, I thought, oh, it's going to be relation to property.

It's probably not going to impact me too much.

Then I saw there was no differentiation between whether you're businesses and shares or property.

It was just like blanket across everything.

And I was just blown away.

I was like, how can they simultaneously say that they want to direct investment into more productive assets and then apply CGT changes to businesses? There is no more productive asset in this country that you could invest in other than businesses.

Who's creating all of these jobs? And I think we want to incentivize that kind of investment more so than more passive ones like property investment.

And like I said, I work with so many different mortgage brokers.

I'm not somebody who's advocating for these property changes.

I think they could have done it by helping reduce red tape and cost for new builds.