Seek co-founder warns higher capital gains tax will kill Aussie startups

The newly proposed capital gains tax has many concerned that it will threaten to crush Australian innovation and drive the next generation of entrepreneurs overseas.

The debate follows recent budget night discussions, where Tresurer Jim Chalmers defended taxing capital and labor equally at an average rate of 30 per cent.

Speaking with Tom Elliott, Seek co-founder Paul Bassat criticised the “inconsiderate and disappointing” proposal saying, “small businesses are the backbone of our economy… and it feels like it’s getting harder and harder and harder to run a small business”.

Press PLAY to hear how this proposal threatens small businesses 

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