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The match, which was arranged after the It’s Simple Finance founder won the opportunity to play Albanese in a tennis match at a charity auction in July, was held at the Prime Minister’s official Canberra residence, the Lodge, on Tuesday (8 September).
An outspoken critic of the government’s federal budget, Daoud used the match as an opportunity to serve up his grievances over the federal government’s changes to capital gains tax (CGT).
Branding the legislation as an “ambition tax”, Daoud has used aerial messages flown over Parliament House and the Treasurer’s Brisbane residence to further campaign against the legislation, arguing that changes to the CGT discount and its expansion to further asset classes will curb entrepreneurship and business ambition.
Daoud also brought three Australians to Canberra with him to put their concerns about the changes to the Prime Minister following the match.
Foul play in the game?
Tax settings and tennis weren’t the only things that were contested.
Following the match Daoud alleged on Channel 7’s program Sunrise that the score line of the game had been manufactured.
“Do you find it surprising that the Prime Minister's biggest political win all year was a manufactured tennis court against a private citizen?” he asked.
“I can’t believe what actually occurred last night. I have never seen somebody double fault and give himself a point.
“I walked out of there thinking to myself, I'm going to be kind to the prime minister's office. I'm going to be extremely grateful because they did host us.
“I walked out and I just found out there was a manufactured score that was briefed out. None of my team, none of my team members were allowed to be in attendance.”
The issue of so-called “tinkle breaks” was also a point of fierce contention, with Daoud alleging that the PM took a long trip to the toilet to disrupt play.
“I have never seen somebody take a 15 minute ‘tinkle break’ - I’m not joking - when the score is deuced up.”
Albanese responded to the allegations on the same program: “The score was 6-0, 6-0, 6-0. It was played in good spirits.
“Importantly, it raised money for charity. I just wish that Joseph had put some of the money he put into billboards and into skywriting and into all the other things, into Redkite or into the charities, which was what it was for. But that's a decision for him.”
Concerning the issue of toilet breaks, the PM said: “I said to him after the second set, and it was actually 1-0. I waited for the break. Change of ends. I said, I'll just go have a tinkle. As you do.”
When questioned over the duration of his breaks, Albanese said: “It was about two minutes. And there's a range of stories that he's had in interviews. They vary from interview to interview. It's hard to keep up.
“Charity was the winner, but the score was pretty clear as well.”
For Daoud, the match marks the latest chapter in a sustained campaign against the reforms. Following a $17,000 billboard campaign at Canberra Airport, Daoud also secured a meeting with Opposition Leader Angus Taylor in June.
What are the concerns?
The Treasury Laws Amendment (Tax Reform No. 1) Bill 2026 passed the Senate in June, with the last-minute changes subsequently passing the lower house 98 to 39.
The legislation introduces changes to CGT and negative gearing, including limiting negative gearing on residential property investments to new builds and replacing the 50 per cent CGT discount with a cost base indexation model and a 30 per cent minimum tax rate on future capital gains from 1 July 2027.
Following a last-minute concession to the Greens, the changes also include a ban on new limited recourse borrowing arrangements (LRBAs) for residential property within self-managed super funds.
The government said the changes would “level the playing field” for first home buyers and owner-occupiers by narrowing what it described as overly favourable tax arrangements for property investors.
In announcing the changes, federal Treasurer Jim Chalmers MP said: “We’re delivering a fairer tax system for workers, first home buyers and future generations.
“This will help rebalance a system which is more generous to assets than it is to labour. And help rebalance a system where house prices have decoupled from incomes.
“These changes will level the playing field for workers and first home buyers, and support investment in productive assets, including new housing supply.”
Alongside other brokers, Daoud disagreed.
Speaking to Broker Daily, Daoud outlined what he saw as the consequences: “In the short term, the proposed changes have already created confusion and hesitation among clients and peers.
“Many people are reconsidering investments in start-ups or delaying decisions to hire because they’re unsure how their eventual exit or profit-sharing will be taxed.
“In the long term, my concern is that Australia could lose its reputation as a place where entrepreneurs are encouraged to innovate. If capital gains are treated punitively, we risk pushing talent and investment offshore and discouraging everyday Australians, from young ETF investors to employees with employee share schemes, from building wealth.”
[Related: Brokers must accept ‘a new world’ has arrived: FBAA]
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