Price Wizard is delighted to welcome Prime Minister Anthony Albanese as a shareholder.
Following the recent Federal Budget, Anthony Albanese has become a 47% shareholder in Price Wizard. It was a very swift and efficient process. I didn’t need to lift a finger.
Having a partner with deep pockets is beneficial, although I note that the Prime Minister has not offered to contribute 47% of our operating costs.
I look forward to discussing our growth strategy with him at the earliest opportunity. I have sent a meeting request to The Lodge. I am yet to receive a response.
For those unfamiliar with the mechanics, the Federal Government now applies a Capital Gains Tax rate of 47% to gains made by Australian small businesses. This means that when a founder eventually sells a business they spent years building, nearly half of the gain goes to Canberra. The founder provides the ideas, the capital, the sleepless nights, and the risk. The Government provides… the invoice.
To be fair, we do receive something in return. Stamp duty. Land tax. Foreign investor surcharges. Building regulations that seem to multiply faster than apartment approvals. And the promise of a budget surplus, which, much like new housing supply, is always just around the corner.
Price Wizard remains committed to growing our business, delighting our clients, and continuing to generate the kind of returns that will help pay off the Prime Minister’s $4.3m clifftop mansion.
Welcome aboard, Anthony. We hope you enjoy the ride.
Greg Einfeld is the Founder and CEO of Price Wizard.
