Forty under 40: Millennial entrepreneurs unite against Albanese’s tax overhaul
A group of young Australian entrepreneurs is urging Prime Minister Anthony Albanese to reconsider proposed changes to the capital gains tax (CGT). They support the removal of CGT discounts for housing but warn that eliminating these discounts for productive assets could harm business growth. The entrepreneurs argue that such changes could stifle ambition and hinder the development of small and medium-sized businesses in Australia.
- ▪Forty Australian founders under 40 have written to the Prime Minister opposing the CGT changes.
- ▪They believe the proposed tax overhaul will not make housing more affordable and will negatively impact business growth.
- ▪The group includes various entrepreneurs from different sectors, emphasizing the broad concern over the tax reforms.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.