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Small Business Tax Changes Spark Debate
Description
The government’s tweaking small business tax rules to let more firms access capital gains breaks—raising the turnover cap from $2M to $10M could unlock 200K businesses—but critics say it’s too little, too late. Entrepreneurs like Lane Stockton warn the changes could handcuff growth, especially for mission-driven startups seeking investment. While the Prime Minister insists consultations are genuine and major reforms aren’t on the table, opposition and some business groups demand deeper scrutiny. The tax package, backed by the Greens, is racing toward parliamentary passage before winter break—despite concerns it could stifle ambition.
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