She had three minutes with the prime minister. She used them to ask the question every investor wanted answered.
Finance creator Natasha Etchman, known to her 332,000-plus followers as Tash Invests, was one of a small group of “new media” voices invited inside the May budget lock-up, alongside major media outlets.
It’s a privilege usually reserved for Canberra’s seasoned political and finance journalists.
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Locked in, lanyard on, unable to walk around alone.
“It’s very official and fancy,” she told 7NEWS Money Talks, powered by Vanguard. “It kind of feels like you’re on a school camp a little bit, because you get shepherded around and you can’t walk around by yourself and you wear your lanyards.”
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Few surprises, one big question
By the time the budget papers dropped, Tash says most of the headline changes were already known.
“There wasn’t really that many surprises,” she said.
“There was a few things about trusts that weren’t really spoken about, but mostly the capital gains and negative gearing things were on the cards.”
“I wish they’d saved some things for a surprise. That would have been cool.”
Then came her moment with the PM.
If the budget’s capital gains changes were meant to make housing more affordable, she asked, why were they being applied to shares too?
“The answer wasn’t very specific,” she said. “We still don’t have an answer there.”
Deals falling through overnight
For Tash, the fallout wasn’t theoretical. She had soft launched her own mortgage broking business in January and February. Within months, the market shifted under her.
“We had a lot of pre-approvals fall through,” she said. “We had to explain that to clients. A lot of new stuff happening all at once.”
Investor activity dropped sharply as negative gearing and capital gains changes spooked the market.
“As soon as there’s negative sentiment, everyone gets really worried, which is completely fair,” she said.
“If you’re going to spend a million dollars or more, that is a massive financial decision to make. So it makes sense when people feel scared that they’re going to pull back.”
That pullback, she says, can feed on itself and cause “a negative downward spiral a little bit”.
Why she refused to panic
While others pulled back, Tash says she didn’t change a thing.
“Hasn’t changed how I think about it at all. At all,” she said. “You shouldn’t invest for tax reasons anyway.”
“Getting a tax saving is always a fun benefit, but you shouldn’t base your decision solely on that.”
Her reasoning: if you’re investing for decades, tax rules will likely change many times before you ever sell or retire.
“It’s often a lot of noise, and it’s easier just to block it out,” she said.
She also warns against reading too much into dramatic headlines. “It’s easy to look at the headlines and be like, ‘Oh, biggest drop since 2023,’ but it’s not really that much in the grand scheme of things.”
Built for chaos
Tash says years on social media had already trained her for constant change.
“You really have to adapt and change and be used to things changing all the time,” she said.
“If you can make a business work during these times when there’s lots of changes, it’ll be a resilient business moving forward.”
And the regulation? She says setting up as a mortgage broker has been easier than the financial advice path.
Still standing
Months on, her business has grown to a team of 10.
Buyers are more cautious. They’re asking about tax.
They’re asking whether now is a good time. But they’re still coming through the door.
“People still want to buy,” she said. “We’ve had a lot of first home buyers get their pre-approvals finally convert into properties. That’s been awesome to see.”
“Most people are just getting on with it.”
As for where she’ll be this time next year? “I have no idea. Life is so random,” she said. “I didn’t think I would start a mortgage broking business, but here I am.”
Money Talks is sponsored by Vanguard. Views expressed by guests are their own and may not reflect Vanguard’s views.
This article is general in nature and does not take into account your personal objectives, financial situation or needs.
Consider whether it is appropriate for your circumstances and seek professional advice where required.
Past performance is not a reliable indicator of future performance.
All investing involves risk, including the possible loss of capital.
Tax information is based on information available at the recording date and may change. Any examples are illustrative only, depend on the stated assumptions, and are not forecasts or guarantees.
