Pressure is mounting on the federal government to change course on capital gains tax (CGT) reform, with more than 30 business representative groups calling on federal lawmakers to reconsider a so-called “penalty on investment”.
A joint letter, signed by the Australian Chamber of Commerce and Industry (ACCI), all state and territory business chambers, and dozens of other groups, says the reform plan puts new business activity at risk.
“Higher taxes on investment in business means fewer opportunities to expand, less innovation,
and ultimately fewer jobs and slower wage growth,” says the letter.
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Senior Business Journalist
Focused on the small business sector, David’s work covers the political, regulatory, and economic issues facing Australian entrepreneurs. Prior to joining SmartCompany, he was a reporter for Business Insider Australia. You can follow him on LinkedIn.
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