It’s tough playing catch-up when Australia’s future as a developer of innovative, high-tech industries and new jobs is at stake.
But that is where the Albanese government finds itself as it picks its way through the rubble of its proposal to end capital gains tax (CGT) discounts on all asset classes as part of its 2026 budget.
As early as Budget night, Treasurer Jim Chalmers told Capital Brief that budget changes, aimed at making it easier for young people to get into the housing market, were already being tweaked to protect what he described as the special circumstances of startups and venture capitalists. Consultations were already under way, Chalmers said.
As Capital Brief later pointed out, if startups and venture capital outfits are so important, why did these consultations not happen before the budget as part of an orderly process?
