🦺 Vested interests
The startup sector is cautiously hopeful of a CGT carveout, but first it has to navigate a rapid-fire Senate inquiry and Canberra’s consultation queue.
The startup sector keeps being assured there is light at the end of the tunnel. The trouble is that the tunnel has a timetable, and no one can move through it any faster than Canberra allows.
The capital gains tax changes that blindsided founders and venture investors in this year’s budget are now grinding their way through parliament.
The legislation is expected to pass the House of Representatives, where Labor has the numbers, before heading to the Senate.
The formal Senate inquiry process opened on 28 May when the bills were referred to the Economics Legislation Committee. Submissions close on 9 June, with hearings on 15 and 16 June and a report due later in June.
