Labor to ignore call for pause on capital gains tax changes
Labor is moving forward with its capital gains tax changes while consulting with businesses on potential carve-outs. Prime Minister Anthony Albanese indicated that any exemptions would likely be limited, focusing primarily on the tech startup sector. Business groups are urging a pause on the legislation to avoid negative impacts on investment and entrepreneurship.
- ▪Labor plans to introduce a broad tax bill that includes capital gains tax changes and income tax relief measures.
- ▪Prime Minister Albanese expects the tax bill to go to the Senate later in June for approval.
- ▪Business groups are concerned that the proposed changes will discourage investment and entrepreneurship.
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Labor consults on capital gains tax carve-outs as businesses call for 'reset'By chief digital political correspondent Clare ArmstrongTopic:TaxTue 26 May 2026 at 4:51amTue 26 May 2026 at 4:51amTue 26 May 2026 at 4:51amPrime Minister Anthony Albanese says Labor will revisit implementation after introducing it to Senate. (ABC News: Matt Roberts)In short:Labor is moving to legislate CGT changes even as it continues working with businesses on potential carve-outs which are expected to remain limited.The federal government has entwined legislative CGT changes and negative gearing restrictions with income tax relief.What's next?A broad tax bill will be introduced to parliament on Thursday before heading to the Senate later in June where Labor will be relying on the Greens to pass the…
Excerpt limited to ~120 words for fair-use compliance. The full article is at ABC News (Australia).