AI-Generated Memes Target Australian Tax Policy Changes

Business owners posted AI-generated images of the prime minister on social media after the government proposed reducing capital gains tax concessions in its budget. The images show the prime minister alongside business owners with captions claiming a 47 per cent equity stake in the companies.

It showed the prime minister giving a fist-bump with a caption stating every Australian founder had gained a new co-founder with 47 per cent equity.

The budget measure would remove the 50 per cent discount on capital gains that business owners have received. The 47 per cent figure refers to the top marginal tax rate that could apply in the year a large capital gain is realized. Frank Greeff encouraged other business owners to create similar images.

Additional posts placed the prime minister in high-visibility clothing at a landscaping company and in beauty clinics and pizza shops.

Political communications adviser Ed Coper said social media reduces policy proposals to emotive phrases without context. Coper noted that governments may need to proceed with reforms despite online reaction. Coper previously advised the government on misinformation during the Voice to Parliament referendum campaign.

The article noted that similar deepfake images have targeted other female political leaders in different countries. It stated that policy debate can be affected when such images spread rapidly on social media platforms.