THE HALFAX HEIMDALL AUGUR

CPA Australia warns against standalone CGT and negative ... Australia’s largest accounting body CPA Australia is calling on the Australian Government not to make isolated changes to the capital gains tax (CGT) discount or negative gearing, warning that small changes could have unintended impacts on investment, housing markets and overall economic confidence. CPA Australia Tax Lead Jenny Wong said housing affordability is a serious national issue, but tax policy on its own will not solve the problem. Ms Wong said Treasury made it clear during Senate Estimates that the main issue in the housing market is that Australia is not building enough homes. "Changes to tax settings should go hand‑in‑hand with practical measures to lift housing supply, boost construction capacity and speed up planning systems,” Ms Wong said. Ms Wong said recent evidence to Parliament shows that CGT and negative gearing operate as part of a broader set of interacting tax rules and incentives. “CGT and negative gearing are part of a bigger tax ecosystem – tweak one lever on its own and you risk pushing further pressure into the rental market or distorting investment decisions,” Ms Wong said. CPA Australia…

There's hope startups might get a carve-out on CGT changes Share this article If you like this article, share it with your friends. Facebook X LinkedIn Bluesky Copy to Clipboard Copy Politics There’s hope startups might get a carve-out on CGT changes Startups could get a CGT carve-out amid tax reform backlash, reversing plans to increase the tax levied on a liquidity moment. Lucinda Garbutt-Young Jun 10, 2026 2 min read Share 0 Prefer Startup Daily Prime minister Anthony Albanese Startups may be able to claim greater tax concessions than initially announced in the federal budget as the government grapples with blowback to its economic reforms. Treasurer Jim Chalmers is in talks with businesses about allowing startups to keep a John Howard-era 50% discount on capital gains tax, Nine newspapers reported on Wednesday. The carve-out would address a backlash from businesses unhappy with the government’s plan to remove the discount and replace it with an inflation-based tax rate. But Prime Minister Anthony Albanese would not reveal whether additional carve outs were being considered to the tax changes. “All of the existing carve outs and exemptions remain and there are four of those sig…

Labor considers tweaks to CGT for start-ups - Mirror Weekly Share Facebook Twitter LinkedIn Pinterest Bluesky Threads The Albanese government will consider changes to calculations for how start-ups are charged capital gains tax rather than a full exemption, after founders and investors warned axing the 50 per cent capital gains tax discount would hit innovation and send entrepreneurs offshore. Following fierce backlash from the tech sector led by Atlassian co-founder and Tech Council chairman Scott Farquhar, Treasurer Jim Chalmers agreed to consult on plans to end the 50 per cent capital gains tax discount in favour of a model linked to inflation with a 30 per cent floor. Farquhar and other tech leaders are urging Chalmers to carve out start-ups from the change, which will come into effect on July 1, next year. But Labor is reluctant to open the door to exemptions and believes it is right for people who make large gains from capital assets to pay more tax. It is instead looking at how to tweak the cost base calculation to offset some of the big capital gains founders and investors can make. Assistant Treasurer Daniel Mulino said on Thursday the government was committed to consulta…

Albanese Govt Yields on Tax, NDIS Concessions Loom | Mirage News Mirage News Mirage News Mirage News Politics 18 Jun 2026 6:16 pm AEST Date Time Share Only a little more than a year into its second term and with Pauline Hanson turning politics upside down, the Albanese government finds itself in policy quicksand on three core issues: its budget tax reforms, its wrestle to curb the National Disability Insurance Scheme, and the electorally sensitive area of migration. On Thursday the government announced changes worth $475 million over the forward estimates to its tax package, yet to be legislated. While the budget itself indicated there would be consultations with stakeholders about detail, the measures are seeking to allay the fierce post-budget backlash from vested interests and some commentators. If anyone doubts Labor's concern to smooth the passage for the tax legislation, they only have to note the alterations have been unveiled ahead of the report of the Senate inquiry into it. Usually it would be the treasurer alone assigned to do the sweep up. But Prime Minister Anthony Albanese fronted Thursday's news conference with Jim Chalmers, perhaps to make it clear he personally ha…

Anthony Albanese and Jim Chalmers soften impact of capital gains tax ... Prime Minister Anthony Albanese and Treasurer Jim Chalmers have backed down on key elements of their capital gains tax overhaul, following backlash to the federal budget. Prime Minister Anthony Albanese and Treasurer Jim Chalmers have softened the impact of their capital gains tax overhaul for small businesses and trusts. Under the new changes, Labor has increased the turnover threshold for small businesses to access the 50 per cent capital gains tax discount from $2 million to $10 million. “We will increase the new threshold by five times, bringing it into line with the threshold for small businesses in a number of other features of the system,” Mr Albanese said. “We're also proposing to introduce a new innovative business tax concession for startups and will release the consultation paper on the startup sector. “We back Australian small businesses and the important role that they play in Australia. They're the blood running through the veins of our local communities.” Mr Albanese also revealed discretionary trusts would be exempted from the minimum 30 per cent tax, in cases where they were used for “g…

Jim Chalmers looks at setting up a LOOPHOLE in the capital gains tax ... ByNICHOLAS COMINO, POLITICAL REPORTER, AUSTRALIAand LUCINDA GARBUTT-YOUNG FOR AUSTRALIAN ASSOCIATED PRESS Published:23:43 EDT, 9 June 2026|Updated:02:01 EDT, 10 June 2026 206 Viewcomments Technology start-ups and small businesses could keep access to the 50 per cent capital gains tax (CGT) discount, as TreasurerJim Chalmersconsiders a targeted carve-out in response to mounting backlash over Labor's budget. The Albanese government is negotiating with business groups and investors - many of whom have condemned the Federal Budget property tax changes as unfair - with the start-up sector set to benefit. TheSydneyMorning Herald reports that such a carve-out would be paired with a broader expansion of CGT concessions, especially those currently granted to businesses with annual turnovers of up to $2million. Labor is expected to raise those thresholds, opening up eligibility to larger companies. Meanwhile, the government is preparing to soften its stance on testamentary discretionary trusts, signalling a partial retreat from the previous blanket tax rate of 30 per cent, proposed in the budget. Changes to tr…

Grattan on Friday: Albanese government gives ground on tax ... Mick Tsikas/AAP Only a little more than a year into its second term and with Pauline Hanson turning politics upside down, the Albanese government finds itself in policy quicksand on three core issues: its budget tax reforms, its wrestle to curb the National Disability Insurance Scheme, and the electorally sensitive area of migration. On Thursday the government announced changes worth $475 million over the forward estimates to its tax package, yet to be legislated. While the budget itself indicated there would be consultations with stakeholders about detail, the measures are seeking to allay the fierce post-budget backlash from vested interests and some commentators. If anyone doubts Labor’s concern to smooth the passage for the tax legislation, they only have to note the alterations have been unveiled ahead of the report of the Senate inquiry into it. Usually it would be the treasurer alone assigned to do the sweep up. But Prime Minister Anthony Albanese fronted Thursday’s news conference with Jim Chalmers, perhaps to make it clear he personally has been listening and taking account of feedback. Some measures will be i…

Businesses unite to fight capital gains tax changes - AAP News Changes to the capital gains tax will lower productivity and make Australia less competitive, business groups argue, as the contentious budget measures go under the microscope. ASenate inquiryinto the tax changes will hold its first day of hearings on Monday. Under the changes, the 50 per cent discount for capital gains tax will be replaced with a rate tied to inflation and a 30 per cent minimum, while negative gearing will be limited to new houses only from July 2027. In a joint statement issued ahead of the inquiry, business groups warned the changes were being rushed through and would discourage investment. The statement from the Australian Chamber of Commerce and Industry, AI Group, the Business Council of Australia and theCouncil of Small Business Organisations Australia said the changes must be rejected. "At a time of growing global competition, Australia cannot afford policies that make us a less attractive investment destination," the statement said. "If passed, these changes will affect businesses of every size, from companies investing in major projects to small and family-run businesses seeking to grow…

Housing Minister Clare O'Neil vows speedy resolution on who will get ... Housing Minister Clare O’Neil vows speedy resolution on who will get carve outs from capital gains tax changes Prime Minister Anthony Albanese and Treasurer Jim Chalmers are consulting with the tech sector, small businesses and farmers over the plans. Katina Curtis The Nightly 3 Min Read 31 May 2026 Updated 31 May 2026 Housing Minister Clare O’Neil has vowed the government will “speedily” resolve questions around who will get carve-outs from the controversial changes to capital gains tax discounts. Credit: Martin Ollman NewsWire / NCA NewsWire Housing Minister Clare O’Neil has vowed the government will “speedily” resolve questions around who will get carve-outs from the controversial changes to capital gains tax discounts as it seeks to bed down its budget swiftly. She became the latest minister to acknowledge the plan to replace the 50 per cent discount on capital gains tax with one based on inflation is problematic for businesses that start with very low costs and grow quickly. Prime Minister Anthony Albanese and Treasurer Jim Chalmers are consulting with the tech sector, small businesses and farmers over t…

Albanese expands CGT exemptions after fierce criticism over ... - 7NEWS The Albanese government has unveiled a major change to its controversial capital gains tax reforms, expanding exemptions for small businesses, start-ups and inheritance trusts. The changes, announced just hours before a Senate inquiry report is due to be handed down, mean millions of businesses and investors will be shielded from some of the budget reforms that sparked opposition. WATCH THE VIDEO ABOVE: Government backs down on capital gains tax changes Know the news with the 7NEWS app: Download today Arrow Financial commentator Rachel Cole told Sunrise on Friday the most significant concession was the decision to increase the turnover threshold for the existing small business capital gains tax discount from $2 million to $10 million. “It means that more small businesses will be eligible for the 50 per cent capital gains tax discount when it does come time to sell,” Cole told Sunrise. The change brings an additional 200,000 businesses into the scheme and lifts eligibility from 91 per cent of businesses to 98 per cent. “If you think about a medical centre that has multiple practices, that would have a turnover …

Labor MP forced to defend capital gains tax discount Labor senator forced to defend capital gains tax discount ahead of Jim Chalmers making Budget announcement A Labor senator has been forced to defend the existing capital gains tax discount on investment properties in a sign Treasurer Jim Chalmers faces a caucus revolt ahead of the May Budget. Stephen Johnson The Nightly 3 Min Read 23 Feb 2026 Updated 23 Feb 2026 Comments A Labor senator has been forced to defend the existing capital gains tax discount on investment properties in a sign Treasurer Jim Chalmers faces a caucus revolt ahead of the May Budget. Credit: Martin Ollman NewsWire / NCA NewsWire A Labor senator has been forced to defend the existing capital gains tax discount on investment properties in a sign Treasurer Jim Chalmers is facing a caucus battle ahead of his plan to wind back concessions in the May Budget. Richard Dowling, a Tasmanian senator from Labor’s Right faction, expressed his view as the deputy chairman of a Senate committee examining the 50 per cent capital gains tax discount. “There’s a lot of people on very average wages. They put all that capital into that one investment property and that’s their veh…

Labor tax changes: Anthony Albanese announces expanded capital gains ... Labor’s contentioustax hikes on capital gains and trustshave been wound back following a sustained attack on the measures and drops in the polls, as Prime Minister Anthony Albanese announces expanded exemptions for small businesses with a turnover of up to $10 million. “Following the consultation that we flagged on budget night, we are announcing details to allow more small businesses access to the capital gains tax concessions,” Albanese said at a Sydney press conference on Thursday alongside Treasurer Jim Chalmers. “Today, we’re announcing that we’ll increase the existing small business 50 per cent active asset CGT concession from $2 million to $10 million,” he said, revealing that an estimated 2.7 million businesses could continue to claim the 50 per cent discount on capital gains introduced by former prime minister John Howard in September 1999. Albanese said the government would also propose a “new innovative business tax concession” for start-ups, asfirst flagged in this masthead. A consultation paper on the measure will be released later today. The government will also exempt all discretionary test…

Anthony Albanese announces key exemptions to capital gains tax ... - SBS Politics Anthony Albanese announces key exemptions to capital gains tax reform, after pushback Around 2.7 million small businesses will be offered a carve-out from controversial tax changes. Prime Minister Anthony Albanese and Treasurer Jim Chalmers have announced exemptions to a major piece of budget reform around capital gains tax concessions. Source: AAP / Dean Lewins The government has announced changes to its capital gains tax reforms announced in last month's budget, with more small businesses eligible for a discount — effectively offering a better tax rate following pushback. Prime Minister Anthony Albanese said the 50 per cent active asset discount, which currently applies to small businesses with an annual turnover of up to $2 million, would be expanded to cover businesses with a turnover of up to $10 million. In its May budget , the government announced capital gains tax rules would change from 1 July, with the 50 per cent discount for individuals, trusts, and partnerships to be replaced with cost base indexation and a 30 per cent minimum tax rate. "We back Australian small businesses and the impor…

Albanese announces ‘generous’ capital gains tax exemptions for small businesses after budget backlash <p>Startups and testamentary trusts to receive carve outs after criticism of Labor’s CGT changes</p><ul><li><p><a href="https://www.theguardian.com/australia-news/live/2026/jun/18/australia-news-live-non-stop-sydney-london-flights-qantas-one-nation-pauline-hanson-labor-anthony-albanese-economy-cost-of-living-ntwnfb">Follow our Australia news live blog for latest updates</a></p></li><li><p>Get our <a href="https://www.theguardian.com/email-newsletters?CMP=cvau_sfl">breaking news email</a>, <a href="https://app.adjust.com/w4u7jx3">free app</a> or <a href="https://www.theguardian.com/australia-news/series/full-story?CMP=cvau_sfl">daily news podcast</a></p></li></ul><p>All of Australia’s 2.7m small businesses will receive “generous” exemptions from capital gains tax, as Anthony Albanese flagged startups and testamentary trusts would receive <a href="https://www.theguardian.com/australia-news/2026/may/25/albanese-forges-ahead-labor-budget-tax-reform-cgt-negative-gearing-business-changes">carve outs</a> from the government’s contentious tax reforms.</p><p>The prime minister’s announceme…