Leading investors and entrepreneurs say proposed changes to the government’s capital gains tax reforms have failed to solve some of the main problems.

The federal government has consulted with small businesses and startups over contentious elements of its budget tax proposal.

Businesses with turnover of up to $10 million will be able to claim 50 per cent off their capital gains tax.

The government’s tax carve outs are welcome, but they don’t get to the heart of the problem: Australia needs more people to take more risk.

Startups and testamentary trusts to receive carve outs after criticism of Labor’s CGT changes

Founders and investors say there is “great disappointment and frustration” at the government’s adjustments.

Leading investors and entrepreneurs say proposed changes to the government’s capital gains tax reforms have failed to solve some of the main problems.