Australian start-up founders and investors say they have been blindsided by the government’s plan to abolish the 50 per cent capital gains tax discount, amid rising anger that the move will spark an exodus of tech talent from Australia.
In Tuesday’s federal budget, Treasurer Jim Chalmers is widely expected to announce Labor will return to the pre-1999 inflation indexation model for capital gains for all asset classes, including property and shares, to address intergenerational inequality.
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