SMH
·australia
·7 hours ago
Albanese winds back tax hikes for small businesses, start-ups, testamentary trusts
Prime Minister Anthony Albanese announced the reversal of contentious tax hikes on capital gains and trusts on Thursday, expanding exemptions for small businesses with turnovers up to $10 million. Albanese stated that approximately 2.7 million businesses could continue to claim a 50 percent discount on capital gains, initially introduced in 1999.
Summary by Glance · SMH
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