The local technology and venture capital sector is scrambling to understand whether the federal budget will deliver capital gains tax exemptions to the venture capital industry, and whether company founders will be excluded, following a week of heated debate over how to tax wealth creation.
Treasurer Jim Chalmers within hours will hand down the budget, which is expected to introduce a minimum 30 per cent tax on all capital gains. Tech industry figures have said the changes risk curbing innovation and could trigger an exodus of founders overseas.
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