The Albanese government said it would welcome consultation on its proposed capital gains tax changes. The startup ecosystem may first need to work out what it actually wants.
Since the budget, the startup and venture capital ecosystem has been in a state of rolling outrage — on LinkedIn, in newsletters and in group chats. But beneath the noise lies a more serious problem: the sector is so fragmented that it risks entering a Senate consultation process and coming out with nothing.
“Everyone is advocating for their own carveout,” says Cheryl Mack, CEO of Aussie Angels. The list of carveouts is long.
Founders want relief from the proposed replacement of the 50% CGT discount with a 30% minimum tax, though some argue any concession should be limited to ESOP holders.
