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Government backflips on capital gains tax changes
Published 6 days, 2 hours ago
Description
The Albanese government has announced modifications to its capital gains tax reforms following widespread criticism. The changes include carve-outs that will increase the turnover threshold to $10 million, allowing more small businesses to access capital gains tax concessions. Prime Minister Albanese and Treasurer Jim Chalmers defended the contested reforms while acknowledging the lack of unanimous support for the economic changes.
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