Pocock urges CGT changes as Albanese laughs off AI meme campaign
Independent senator David Pocock has expressed concerns over proposed changes to capital gains tax (CGT), warning that they could drive tech investment offshore. Prime Minister Anthony Albanese dismissed an AI-generated meme campaign against the tax changes, thanking startups for their creativity. The proposed CGT reforms could impact profits from selling properties and shares, raising alarms among entrepreneurs about the potential negative effects on the startup ecosystem in Australia.
- ▪The federal budget proposed replacing the 50% tax discount on profits with cost-base indexation and a minimum 30% tax rate.
- ▪Senator Pocock emphasized the need for deep consultation to avoid driving investment away from Australia.
- ▪Entrepreneurs warn that increased taxes could deter people from working for new businesses or lead startups to relocate overseas.
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Entrepreneurs and brothers Jacques and Frank Greeff with Anthony Albanese in an AI-generated image created to protest against capital gains tax changes. Illustration: Jacques GreefView image in fullscreenEntrepreneurs and brothers Jacques and Frank Greeff with Anthony Albanese in an AI-generated image created to protest against capital gains tax changes. Illustration: Jacques GreefTaxPocock urges CGT changes as Albanese laughs off AI meme campaignIndependent senator warns budget reform could drive tech investment offshore, as PM thanks startups for ‘very flattering’ images Get our breaking news email, free app or daily news podcast Josh ButlerTue 19 May 2026 03.44 EDTSharePrefer the Guardian on GoogleAnthony Albanese has laughed off an AI-generated meme campaign against capital gains tax…
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