Australian Pays $17,500 for Airport Billboard as Budget Tax Backlash Grows: ‘We Aren’t Being Heard’

Joseph Daoud, founder of mortgage brokerage It’s Simple Finance, has launched a billboard campaign at Canberra Airport to oppose the Albanese government’s proposed changes to capital gains tax, arguing the policy will hit not only property investors but also share buyers, small business owners and first-home savers. Daoud said he spent $17,500 on the campaign, which will run throughout the parliamentary sitting week, and placed messages on both outdoor and digital screens to draw the attention of politicians arriving in the capital. The billboard asks: “Investing in shares? Saving a deposit? Building a business? Your ambition will be taxed under proposed CGT changes.”

Daoud said his campaign followed meetings with dozens of small business owners, calls from first-home buyers and roundtables with Shadow Treasurer discussions, which he believes have not shifted the debate. In a LinkedIn post, he argued that Canberra is failing to listen to ambitious Australians and said the billboard was intended to ensure their concerns are seen. He said the proposed tax changes would “disable hope” for young Australians, people trying to start businesses, share investors and those saving to buy their first home.

The controversy centres on the government’s plan to replace the existing 50 per cent capital gains tax discount with a system based purely on inflation. Critics from the start-up and small business sectors say the change would reduce incentives to invest and could punish successful businesses when they are sold. UNSW economist Richard Holden added to the criticism over the weekend, publishing analysis that he said showed high-performing firms would effectively be penalised for growing quickly and becoming more productive.

Holden described the proposal as “the worst possible plan” for a country that needs more jobs and economic growth, calling it a “productivity tax” that would discourage businesses from expanding and hiring. The broader backlash has also come from young investors, who often focus on higher-growth assets such as shares and are expected to be disproportionately affected under the new rules. Based on typical long-term returns and current inflation assumptions, some investors could face nearly double the effective tax rate on capital gains, critics say.

Former treasurer Peter Costello also weighed in, warning that younger Australians would carry the burden of the tax changes over their lifetimes and lose access to the same investment advantages enjoyed by previous generations. He argued the policy would make it harder for young people to save, invest and retain the rewards of their financial decisions.

As Parliament resumes this week, the government is facing pressure to better explain why the tax changes would extend beyond housing into other investment categories. Independent MP Zali Steggall said on RN Breakfast that she supports the changes only as they apply to residential property, and does not support widening them to broader property investment. The debate is now expected to intensify as lawmakers return to Canberra and the political fight over capital gains tax reform grows louder.