Jun 2, 2026 – 6.18pmAtlassian co-founder Scott Farquhar has warned Labor’s changes to capital gains have doubled the effective tax rate on start-ups, saying the country needed to work harder than ever before to keep innovation onshore.Now the chairman of the Tech Council of Australia, which represents the major technology companies and venture capital firms, Farquhar said he had spoken to Treasurer Jim Chalmers about the changes even before the Albanese government handed down its controversial budget last month.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Scott Farquhar says CGT changes ‘doubled the effective tax rate’
The Atlassian co-founder said it was more important than ever to keep start-ups in the country. But Canva’s Cameron Adams was sceptical founders would leave.
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