Labor faces backlash over small business tax changes | 7NEWS

1 hour ago The News Room

Labor’s proposed capital gains tax reforms in the budget have sparked widespread backlash from small business owners across Australia. The changes replace the current 50% CGT discount with an indexation model, which business owners claim could result in the government taxing up to 47% of their business value upon sale. AI-generated memes mocking the Prime Minister and Treasurer have gone viral on social media, with everyone from Pilates instructors to tradies expressing opposition to the reforms.

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