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Breaking: Albanese, Chalmers unveil capital gains carve-outs for small businesses, startups
Key takeaways
- Anthony Albanese and Jim Chalmers have announced adjustments to their tax proposals.
- The 50 per cent extra capital gains tax discount for small businesses will be extended to those with a turnover of up to $10 million instead of $2 million.
- Startup founders and employees will get an extra 50 per cent concession of their own, with details to be finalised following further consultation.
Why this matters: an international story with cross-border implications worth tracking.
Anthony Albanese and Jim Chalmers have announced adjustments to their tax proposals. (ABC News: Callum Flinn)
The 50 per cent extra capital gains tax discount for small businesses will be extended to those with a turnover of up to $10 million instead of $2 million.
Startup founders and employees will get an extra 50 per cent concession of their own, with details to be finalised following further consultation.
Article preview — originally published by ABC Australia. Full story at the source.
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