Tue 26 May 2026 at 8:54pmTue 26 May 2026 at 8:54pmMatt Comyn says the CGT changes should only be applied to static assets, to avoid stifling business risk. (ABC News: Daniel Irvine)Commonwealth Bank CEO Matt Comyn says the government's capital gains tax changes should only apply to passive assets, such as housing."I think that's the area you have to look at," he told 7.30."This is a step where I do think wealth, relative particularly to labour and consumption, is taxed lightly and inconsistently."The government decision announced in Treasurer Jim Chalmers's budget has caused consternation with competing claims about what it means for people in all sorts of different circumstances.The CBA boss said he did not want to see further taxes on future generations but that the nation had to get the "balance right".Mr Comyn said he would speak to Mr Chalmers about the changes in the near future but he thought the government had done the right thing amid rising spending demands and as a bulwark against ever-increasing frequency of economic shocks."These are hard changes," he said."Changes around tax were never going to be popular."We've got much higher sort of costs around defence, resilience," he said."We've got some structural issues as well in terms of demographic and aging population. We are in a structural deficit, which means our expenses exceed our revenue.""It used to be a ballpark, every 10 years there'd be a shock. Now they're much more frequent. And I think we should plan for that."Mr Comyn also indicated that CGT should only be applied to passive assets, adding that the broader application risks stifling those willing to take risks with a new business.Matt Comyn says we should be prepared for frequent economic shocks. (ABC News: Margaret Burin)"There's a lot of focus and a big difference in my mind between passive asset accumulation, versus productive capital or risk-taking," he said."This is clearly something the government are looking at closely."If I'm accumulating an asset and passively holding that, versus I'm investing in a start-up, a founder business, a junior explorer, I think that's quite different."I don't think we want to change the incentives towards risk and enterprise and innovation."Watch 7.30, Mondays to Thursdays 7:30pm on ABC iview and ABC TV