Government not ruling out capital gains discount reform amid reports $23 billion tax break could be overhauled

Dear Members,

As we step into February, I want to personally thank you for the confidence, patience, and trust you continue to place in The FIRM and its broader vision. This year is shaping as a defining chapter — one marked by momentum, clarity of purpose, and the careful execution of long-term strategies that have been years in the making.

A Clear Investment Horizon

Across all divisions, our focus remains disciplined and intentional. We continue to prioritise:

• Capital preservation

• Sustainable long-term returns

• Asset-backed strategies that withstand market cycles

While global markets remain volatile and sentiment-driven, our approach has not changed. We invest where fundamentals are strong, downside risk is managed, and upside is created through structure, scale, and stewardship.

Strategic Progress & Future Opportunities

Behind the scenes, significant groundwork is being laid. Several initiatives are now transitioning from planning into execution — a phase that demands patience, precision, and experienced leadership.

These developments reflect a broader strategy: building enduring platforms rather than chasing short-term outcomes. As always, members will be informed as opportunities mature and move into formal offering stages.

Strength Through Community

Beyond balance sheets and projects, what continues to distinguish The FIRM is its people. Many of you have walked this journey with us for decades. You understand that true wealth creation is not rushed — it is built deliberately, season by season.

We do not take this responsibility lightly. Every decision is filtered through the lens of trust, legacy, and accountability.

A Personal Word

In times of growth, it is important to remain grounded. We are reminded that leadership is not simply about direction, but about care — for our members, our teams, and the wider community we serve.

VOYAGER I

As we move forward, my commitment remains unchanged: to lead with integrity, transparency, and a long-term perspective that balances opportunity with responsibility. We are currently in early-stage negotiations regarding the potential acquisition of a refined, residential-style luxury cruise vessel for our members’ consideration. As this opportunity progresses through formal due diligence, we will provide further updates in due course. 

Thank you for standing with us. We look forward to sharing further updates as this exciting year unfolds.

Warm regards,

John Ibbitson
Founder & Chairman
The FIRM - Financial Independence & Retirement Management