The Age
·australia
·1 hour ago
Albanese winds back tax hikes for small businesses, start-ups, testamentary trusts
Prime Minister Anthony Albanese announced the rollback of proposed tax hikes on capital gains and trusts on Monday, expanding exemptions for small businesses with up to $10 million in turnover. The government estimates that approximately 2.7 million businesses will maintain their 50 percent capital gains tax discount. Albanese stated this move aims to support small enterprises amid significant public backlash.
Summary by OZbrief · The Age
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