Chalmers came under scrutiny for handing himself broad powers on tax reform<\/a>.<\/p>\nChalmers rejected the criticism, stating the powers were limited to determining legislative instruments and remained subject to parliamentary review.<\/p>\n
In the May budget, the Labor government scrapped the existing 50 per cent CGT discount implemented by the Howard government.\u00a0<\/p>\n
Howard’s CGT policy applied to assets that had been held onto for longer than 12 months.<\/p>\n
However, from July next year, the government plans to scrap the 50 per cent CGT discount and replace it with an inflation indexation model that taxes only “real” gains.<\/p>\n
The government has proposed an Innovative Business CGT Concession to shield some start-ups but critics say it’s too complicated and could stifle risk and innovation.<\/p>\n","protected":false},"excerpt":{"rendered":"Treasurer Jim Chalmers is under the pump from the Australian business sector and one independent MP, who have…\n","protected":false},"author":2,"featured_media":960220,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[527964,527978,22956,96448,527962,527961,527996,527984,527998,381975,527963,527989,527992,527967,8932,527986,527980,527956,25225,527971,64,63,55685,527991,527974,99,527993,527953,5612,527955,32092,454314,527994,527985,527975,47743,90546,164,1876,131887,527966,85592,181055,527949,20966,527958,42086,25356,19433,1788,94137,527972,116214,527981,527965,527969,24129,527952,377394,527970,527960,155207,527968,527959,527982,20246,1655,74732,527977,311101,509852,15856,110825,527948,65978,55899,96177,527983,527995,527973,527987,35747,8193,228358,378344,527951,527954,392967,509444,527979,384090,527990,376708,527957,454312,23023,382984,381224,392595,376785,527997,378677,527988,414655,527950,382494,392060,199184,37652,50850,527976],"class_list":["post-960219","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-s-broader-aim","tag-active-assets","tag-12-months","tag-96448","tag-a-broader-range","tag-a-flat-discount","tag-a-growing-chorus","tag-a-more-suitable-compromise","tag-a-personal-letter","tag-a-place","tag-a-reduced-rate","tag-a-simpler-alternative","tag-active-share-portfolios","tag-ai-group-chief-executive-innes-willox","tag-albanese","tag-an-inflation-indexation-model","tag-an-innovative-business-cgt-concession","tag-an-open-letter","tag-assets","tag-attractiveness","tag-au","tag-australia","tag-australian-businesses","tag-bracket-creep-bracket-creep-mp-allegra-spender","tag-broad-powers","tag-business","tag-business-assets","tag-business-sector-revolts","tag-businesses","tag-capital-gains-tax-overhaul","tag-cent","tag-cent-cgt-discount","tag-cgt-overhaul","tag-cgt-plan","tag-cgt-policy","tag-chalmers","tag-critics","tag-economy","tag-founders","tag-groups","tag-high-growth-businesses","tag-howard","tag-incentives","tag-independent-mp-allegra-spender","tag-indexation","tag-its-cgt-overhaul","tag-jim-chalmers","tag-july","tag-june","tag-labor","tag-labor-economy","tag-legislative-instruments","tag-longer","tag-losses-and-gains","tag-low-capital","tag-more-certainty","tag-mounting-pressure","tag-mp-allegra-spender","tag-mr-chalmers","tag-ms-spender","tag-newswire-tertius-pickard-supporters","tag-next-year","tag-one-independent-mp","tag-parliamentary-review","tag-perverse-incentives","tag-picture","tag-pressure","tag-prime-minister-anthony-albanese","tag-proposed-cgt-reform","tag-real-gains","tag-reasoning","tag-reform","tag-replacement","tag-risk-and-innovation","tag-risk-taking","tag-risks","tag-scrutiny","tag-sentiments","tag-shares-and-options","tag-some-start-ups","tag-staff-and-investors","tag-tax-reform","tag-taxes","tag-the-50","tag-the-albanese-government","tag-the-asymmetric-treatment","tag-the-australian-business-sector","tag-the-australian-financial-review","tag-the-australian-industry-group","tag-the-cgt-reform","tag-the-changes","tag-the-chief-executive","tag-the-criticism","tag-the-current-tax-proposal-risks","tag-the-existing-50","tag-the-government","tag-the-howard-government","tag-the-labor-government","tag-the-letter","tag-the-matter","tag-the-may-budget","tag-the-mp","tag-the-planned-changes","tag-the-powers","tag-the-preservation","tag-the-pump","tag-the-tax-system","tag-this-week","tag-treasurer","tag-treasurer-jim-chalmers","tag-unintended-consequences"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/960219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=960219"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/960219\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/960220"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=960219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=960219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=960219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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<\/p>\n