Labor walks tightrope as tax overhaul alarms startups and investors
Labor is facing challenges as it proposes tax reforms that may negatively impact startups and investors. While some Australians have responded positively to housing tax reforms, there is significant concern regarding changes to capital gains tax and discretionary trusts. The government is consulting on these changes to mitigate potential adverse effects on small businesses and entrepreneurs.
- ▪Labor MPs report mixed reactions to the federal government's tax changes.
- ▪The proposed changes to capital gains tax and trusts have sparked backlash from young investors and small business owners.
- ▪The government is offering transition support for small businesses restructuring to avoid new taxes.
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Labor walks tightrope as tax overhaul alarms startups and investorsBy chief digital political correspondent Clare ArmstrongTopic:BudgetWed 20 May 2026 at 4:51amWed 20 May 2026 at 4:51amWed 20 May 2026 at 4:51amThe PM says the government is consulting on how to ensure tax changes do not disproportionately hurt startups and venture capital. (ABC News: Matt Roberts)In short: Labor MPs say many Australians have responded positively to housing tax reforms, but there is concern that changes to capital gains tax and discretionary trusts will become a tough sell.Uncertainty around the tax measures is fuelling opposition among some young investors and business owners, while the Coalition says Labour is trying to freeload off entrepreneurs.What's next?The federal government is consulting on how it…
Excerpt limited to ~120 words for fair-use compliance. The full article is at ABC News (Australia).