A spinner from the Housing Minister’s office called me a couple of weeks ago:
“The Minister would like to invite you to Canberra to attend the Budget. There are a few changes we’re going to announce that, let’s just say … we think you’ll be very interested in”, he purred.
“Yeah, yeah. You blokes always say that. What’s the date again?” I asked, turning off my tractor.
“It’s the 12th of May”, he confirmed.
I pulled up my calendar.
On the 12th of May I had one all-day event scheduled:
“Colonoscopy.”
Yes, I’d booked an anal probe, completely forgetting my other Canberra clean-out with Dr Jim Chalmers.
Seriously, this column writes itself. (It would be funny if I wasn’t completely TERRIFIED.)
It gets better though. As I lay on the cold operating table on Tuesday, my backside blowing in the breeze, the anaesthetist appeared hovering over my head:
“I just want to say I’m a huge Barefooter. Your book changed my life. You took some time off the column, but I’m glad you’re back. Now go to sleep … deep sleep …”
Meanwhile in Canberra, as a nation we collectively clutched our coits as Dr Jim pulled on his rubber gloves.
The changes to negative gearing and capital gains will make property investing less attractive. I’m happy to cop that if it takes a bit of heat out of house prices. My kids need somewhere to live one day. So do yours.
He also tightened the squirrel grip on trusts and capital gains tax. But you’ve already read a thousand boring headlines about all this since Tuesday so I won’t go on.
Yet here’s what I actually think mattered:
The Government did not touch the two tax-free foundations of the Barefoot Steps: your family home and your super. In other words, even though some rules changed on Tuesday, the Barefoot plan did not.
Finally, I know this is a lot. But if you’ve been sitting on the fence about calling your doctor and getting a full ‘Barnaby Joyce’, just make the call. Book it in. It’s the same rule as investing: the best time to pull the trigger is when you’re terrified.
Tread Your Own Path!