Could CGT discount changes see mass exodus of businesses from Australia? | The Business | ABC NEWS
Australian entrepreneurs are lobbying the government to unwind the changes to the capital gains tax discount announced in the federal budget. Australia’s start-up sector, has grown from $15 billion to $360 billion in 10 years, but there are concerns the CGT changes could stifle that growth.
Assistant minister for productivity, competition, charities and treasury, Andrew Leigh says “conversations are ongoing and we value the engagement and the constructive way in which the tech sector has worked with us.”
Mr Leigh says he’ll be speaking with representatives from the tech sector about some of the budget measures, which includes changes to the Research and Development (R&D) Tax Credit to incentivise new business and innovation.
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