BUSINESSTHE GUARDIAN WORLD
Albanese announces ‘generous’ capital gains tax exemptions for small businesses after budget backlash
Prime Minister Anthony Albanese announced 'generous' capital gains tax exemptions for Australia's 2.7 million small businesses, startups, and testamentary trusts after facing criticism over Labor’s tax reforms. The changes aim to address backlash against shifting from a flat 50% CGT discount model to an inflation-linked approach, which industry groups labeled a 'tax on growth'.
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