Budget 2026 is a $4.5 billion tax grab from small business
An expert says the budget may have given small businesses instant asset write-off certainty, but it has clawed back far more through new taxes on discretionary trusts and capital gains.
Let me walk you through a magic trick the government tried to pull off on budget night.
With one hand, the government gave small business owners a permanent $20,000 instant asset write-off. Finally, after years of annual renewals and nail-biting uncertainty, we got certainty.
But, with the other hand, it introduced a 30% minimum tax on discretionary trusts and capital gains, as well as removing the 50% capital gains tax discount.
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