Australian Government Capital Gains Tax Reform Draws Sharp Opposition Criticism

The Albanese government announced a capital gains tax (CGT) carve‑out for start‑ups with turnover up to $10 million, offering a 50 percent discount that lifts the previous $2 million threshold. The measure follows earlier CGT changes that were widely criticised by tech founders and opposition parties.

Opposition leader Angus Taylor described the revised carve‑out as “half‑arsed” and an “abject failure”, urging the government to scrap the tax reform entirely. Treasury minister Jim Chalmers defended the policy, saying the government anticipated political risk but believes the changes align income from work with income from assets and will help reduce investment in housing. Prime Minister Anthony Albanese added that the reform targets speculative investment and supports small‑business growth. The budget also included a $10 billion red‑tape reduction package for businesses.