Tech sector warns tax could "double" under CGT changes | Insiders on Background
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The decision to change capital gains tax rules for all investments, rather than just property, has sparked backlash from young investors, entrepreneurs and small business owners. In her first media interview since becoming the Tech Council's CEO, Kate Cornick tells David Speers the government must reward risk to avoid disincentivising startups. 00:00 Introduction 00:58 Kate Cornick, Tech Council CEO 1:20 Tech Council's position on capital gains tax changes 2:41 What would regime change mean for the sector? 4:47 How tax base could double for successful founders 5:37 Why tech start ups won't fall into existing concessions and exemptions for small businesses 6:50 Impact on successful exits 7:31 Risks of a non-competitive tax regime in Australia 9:42 Consultation with government and members 11:42 Does government understand concerns? 12:22 Huge number of failures in the tech startup system 14:15 Solutions 16:08 Learning from overseas schemes 17:28 Would a lifetime cap work? 17:45 Summary
Tags: abc news, australian news, abc news indepth, documentaries, long-form journalism, david speers, capital gains tax, tech sector, small business, tax reform, federal government, kate cornick, tech council
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