Blackrock, Vanguard and StateStreet investing under 10% threshold in Aussie businesses to keep under capital gains tax threshold
- Details
- Category: Blackrock, Vanguard and Statestreet
- Created: Saturday, 16 December 2023 21:27
- Written by Administrator
In discussion with Senator Gerard Rennick in in senate estimates last week, the esteemed senator discussed capital gains taxes - or more specifically, lack thereof. Australian universities do not pay capital gains (CG) taxes on Australian students but they most certainly should be paying CG on international students. Indigenous land councils - who routinely take a whopping 40% in royalties before paying the people, should definitely pay capital gains, as should foreign investors - especially the big 3. (B,V & S, where S = BV).
Blackrock, Vanguard and StateStreet investing under 10% threshold in Aussie businesses to keep under capital gains tax threshold. The way they are able to heavily invest in Australian shares is by purchasing a less than ten percent of stock of the initial company. After this, they then create another company which they then (yes, generally both Blackrock and Vanguard, and also StateStreet, which is again, Blackrock and Vanguard), they then invest another amount less than ten percent in that company, and so on and so forthe.
After spending sometimes down the stockmarket rabbit-hole of Blackrock and Vanguard, in an attempt to ascertain just how much of Australia's beauty has been smighted by their evil claws, I was left bewildered and dumbstruck as to why they would not only invest in an Aussie company but then invest in a littany of other companies that are also invested in the same company. And now we know - to avoid paying capital gains taxes.
So how much money are Blackrock and Vanguard shirking the Australian taxpayers for, that is the real question and something we'd suspect only a few of the brightest forensic teams could ascertain. It certainly would be nice to know but wouldn't it...
