A Sydney entrepreneur is using skywriters above two capital cities to protest Labor’s CGT tax changes ahead of his charity tennis match with Prime Minister Anthony Albanese on Tuesday.
In August, the founder of It’s Simple Finance Joseph Daoud put up $16,500 of his own money to win a charity auction tennis match against Mr Albanese at The Lodge.
The day has come for Mr Daoud, who leads the “Stop the Ambition Tax” campaign following Labor’s CGT tax changes in the recent Budget.
The campaign argues that the proposed capital gains tax changes hit small business owners, young investors and side-hustlers more so than the “top end of town”.
At 11am on Tuesday, skywriters began spelling out two separate messages over Canberra and Brisbane.
In Canberra, the message “stop the tax” was written in the air over Parliament House along Federation Mall.
In Brisbane, “stop taxing ambition” was emblazoned over the city, with the best views of the skywriting to be seen from Mt Coot-tha Lookout.
In late August, Mr Daoud had already begun training for the showdown with the Prime Minister.
“I’ve been told the PM is a very, very good tennis player, and my prior tennis experience was mostly on Wii Sports,” Mr Daoud told News24.com.au.
“It’s not every day you get to play tennis at The Lodge, so I want to put my best foot forward. But let’s be honest, I’m the underdog.
“He’s got the home court advantage. I’ve got thousands of Australians in my corner.”
Under the new rules, the government will scrap the 50 per cent CGT discount and introduce a cost base indexation and a 30 per cent minimum tax rate.
It will also limit negative gearing to new builds, while grandfathering the system for landlords who already benefit from the scheme as of 7.30pm May 12, 2026.
The legislation passed Parliament in June, with the government arguing it would create a fairer tax system and “level the playing field” for workers and first home buyers.
For Mr Daoud, however, the issue is less about political philosophy on taxation and more about what he sees happening to people trying to build something.
“I don’t have a grand philosophy about taxation,” he said.
“I’ve got a pretty simple view that if you get up early, take a risk and build something, the reward shouldn’t be a bigger bill.”