Australia Treasury Consults on Start-up CGT Plan as VCs Fear Exclusion From Labor Tax Breaks
Updated
Updated · The Australian Financial Review · Jun 3
Australia Treasury Consults on Start-up CGT Plan as VCs Fear Exclusion From Labor Tax Breaks
3 articles · Updated · The Australian Financial Review · Jun 3
Summary
Treasury officials are privately consulting the Australian Investment Council and Tech Council of Australia on a capital gains tax framework for start-up founders, employees and investors under Labor’s new tax plan.
Venture capital firms fear the concessions could bypass the early-stage investors who fund those start-ups, sharpening industry concern over how eligibility will be drawn.
Robyn Denholm, the Albanese government’s innovation adviser and Tesla chair, told start-ups to stop “whingeing” about the tax changes and focus instead on artificial intelligence.
The consultations show Canberra is still working through how to make the start-up tax regime appear fair across founders, staff and backers before the new plan is settled.