Updated
Updated · The Australian Financial Review · Jun 3
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.

Insights

Will Australia's 'Future Made in Australia' policy be undermined by an exodus of entrepreneurs fleeing new taxes?
Can Robyn Denholm's call for an AI focus overcome investor fears about Australia's looming capital gains tax hike?