The Bad Place9News | Aussie business owners unite against PM's 'aspiration ambush' by 9News
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Forty Australian entrepreneurs under 40—spanning technology, AI, retail and manufacturing—have sent an open letter to Prime Minister Anthony Albanese condemning his federal budget as an “aspiration ambush”. The letter argues that the government’s plan to cut the capital‑gains‑tax (CGT) discount to 30 percent, adjust cost‑base indexation and overhaul negative‑gearing and discretionary‑trust rules will disproportionately hurt young business builders, even though the changes are justified as a way to help younger people enter the housing market. While the signatories support the CGT reforms for residential investment properties, they draw a line at extending them to shares, warning that this will “suck the ambition, drive and hope” out of the next generation of innovators. The petition, signed by founders of firms such as Pillar Performance, Linktree and me&u, asks for a response from the prime minister, amid social‑media backlash and mockery that paints Albanese as a 47 percent partner in their future sales. Treasury Minister Jim Chalmers has defended the inclusion of shares, saying it avoids new market distortions and pledges a one‑year grace period, consultation with startups and protection for businesses already holding concessions. The reforms have not yet been passed, with the Coalition promising to fight them and the Greens undecided.
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