Anthony Albanese responds to ‘flattering’ AI-generated memes mocking CGT discount reforms

Anthony Albanese has broken his silence on a wave of viral, AI-generated memes of him made in the wake of last week’s federal budget

The Prime Minister has featured in a series of AI-generated images from business owners and tech entrepreneurs, who have sought to mock him for the changes the government made to the capital gains tax (CGT) discount in the May 12 budget.

Speaking in Perth on Tuesday, Mr Albanese said he was pleased to see his image presented in a favourable way.

“I think some of them are very flattering,” he said.

“I thank them for picking very nice photos of me, I thank them for that.”

Owners of start-up companies and tech entrepreneurs began creating the memes after the federal government announced the 50 per cent CGT discount would end and instead be replaced by a minimum 30 per cent tax rate. This caused concern among business owners that they would potentially be forced to pay 47 per cent tax if they sell their company.

Mr Albanese has been depicted as a mock “47 per cent silent partner” in the memes, doing everything from welding to shop fitting.

He reassured those concerned that the marginal rate would not be affected.

“We’re not changing the 47 per cent marginal rate that’s being referred to in those memes,” he said.

“What we are changing is the way that the capital gains tax discount is calculated. They’ll still be a discount, but it will be calculated according to inflation rather than the nominal discount that has applied between 1999 and now.

“We’re going back to the system that existed before this distortion was introduced into the market at the end of the last century.”

‘Rock-solid’ GST commitment

Mr Albanese spoke with Western Australia Premier Roger Cook on Tuesday to reaffirm his pledge to allocate a fair share of the Goods and Services Tax (GST) to the state. Currently, WA receives 75 cents back for every dollar raised by the Commonwealth.

Mr Cook said no promises had been broken by the federal government.

“The Prime Minister’s given us a rock-solid commitment that the rest of Australia will receive its fair share of the GST,” Mr Cook said.

“I’ve been very clear in opposition and in government (about that). That’s the right policy,” he said.

“WA is an important part of our nation. It’s a driver of our economy, and I’ll continue to back WA.”

Meanwhile, NSW Premier Chris Minns said last week he would be advocating for a bigger GST share, given the state received 17 per cent of available infrastructure spending in the budget, despite making up 31 per cent of the country’s population.

“That’s not fair and that’s not equitable and there needs to be an urgent, urgent agreement between the federal and the state government on infrastructure spending in New South Wales,” he said.

“We will seek to get an agreement with the federal government on specific infrastructure projects to right this wrong.”