Entrepreneur says the rich should stop complaining about tax changes
Entrepreneurs are voicing strong opposition to proposed changes to the capital gains tax that could negatively impact start-ups. Many founders argue that reducing potential returns for investors may deter funding for new businesses. The government is facing pressure to consider exemptions for start-ups amid concerns about the implications for innovation and job creation.
- ▪The federal government plans to replace the 50 percent capital gains tax discount with a cost-based indexation model.
- ▪Entrepreneurs fear that changes to capital gains tax could lead to lower returns for investors, reducing funding for start-ups.
- ▪There is speculation that the government may announce concessional treatment for start-ups in response to the backlash from the tech sector.
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Tech sector onslaught against proposed changes to capital gains tax could see start-ups carved outBy business reporter Nassim KhademTopic:TaxSat 23 May 2026 at 12:04pmSat 23 May 2026 at 12:04pmSat 23 May 2026 at 12:04pmRachael Wilde runs a multi-million-dollar beauty brand. (ABC News: Thorsten Joses)abc.net.au/news/tech-sector-onslaught-against-capital-gains-tax-changes-startups/106711046Link copiedShareShare articleThe federal government didn't really see it coming.It had expected a political fight in relation to its budget announcement to axe the 50 per cent capital gains tax discount in favour of a "cost-based indexation" model.But it hadn't expected a meme-fuelled backlash would come so strongly from the little guys — savvy young founders of small businesses and start-ups who took…
Excerpt limited to ~120 words for fair-use compliance. The full article is at ABC News (Australia).