Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 28-May-26

The Business Council of Australia has called on the federal government to abandon its plans to rush through legislation to enact its proposed tax changes and to instead hold a proper parliamentary inquiry into them. The BCA and other business groups are united in their view that the government’s capital gains tax changes be limited to real estate, although Treasurer Jim Chalmers contends that allowing too many exemptions will only further distort the tax system. Prime Minister Anthony Albanese claims only 10 per cent of small businesses will be impacted by the CGT changes as they will qualify for one of four existing concessions that apply to businesses with turnover of under $2 million, but Council of Small Business Organisations Australia CEO Skye Cappuccio says the $2 million threshold has not been lifted for 19 years.

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BUSINESS COUNCIL OF AUSTRALIA,{SPACE]AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET,{SPACE]AUSTRALIA. DEPT OF THE TREASURY,{SPACE]COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED

BUSINESS AND POLITICS – AUSTRALIA]