Startup sector fears delayed CGT carveout amid budget rush
The government aims to have rammed through the key elements of its budget by the end of the month, despite concern in the startup sector.
Startups fear they won’t get a carveout from Labor’s sweeping tax changes until the end of the year, amid warnings delays will harm the sector and create investment uncertainty.
Prime Minister Anthony Albanese is pushing to pass the budget’s key elements by the end of the month, despite objections from startups and VC to the removal of the 50% capital gains tax (CGT) discount.
The Nine newspapers reported on Wednesday that Labor is considering a total carveout for startups and VC, as it looks to quell unrest in the sector.
Treasurer Jim Chalmers has flagged some form of exemption for startups and VC but is racing against the clock to settle on a model .
