Post by TAX SPOC

🇦🇺 Australia Just Blinked on Capital Gains Tax Reform After weeks of criticism from business groups, entrepreneurs and startup founders, the Australian government has unveiled major concessions to its proposed CGT reforms. The headline change? The turnover threshold for small business CGT concessions will jump from A$2 million to A$10 million, meaning around 98% of active Australian businesses are expected to remain eligible for relief. The government has also signalled carve-outs for startups and exemptions for testamentary trusts from the proposed minimum tax on discretionary trusts. The move is significant because the original reforms were increasingly being portrayed as a potential disincentive to entrepreneurship, investment and business growth. While the broader tax package is still expected to raise A$8.1 billion, Canberra is clearly trying to reassure founders, investors and small business owners that they won't be the primary target. The political message is becoming clear: Tax reform is one thing. Taxing growth is another. Read more on taxspoc.com #Australia #CGT #CapitalGainsTax #TaxReform #Startups #SmallBusiness #Entrepreneurship #TaxPolicy #InternationalTax #TaxSpoc