00:02Rachel Wild runs a multi-million dollar beauty brand which she says would have never happened
00:08without the backing of investors.
00:10It was really hard to keep that business cash flow alive and get the business off the ground
00:16and get it to a critical mass and a scale where we could actually become profitable.
00:20She fears changes to the capital gains tax discount could mean lower returns for investors
00:26and with less reward there could be reduced funding for startups.
00:30It becomes a lot harder for young founders to access capital as a result.
00:34Entrepreneurs also fear employees who take lower wages in exchange for company shares could look overseas.
00:42You will have a brain drain, you won't have people coming back, you won't have capital coming to Australia.
00:46A treasury spokesperson said nine in ten small businesses are still eligible for CGT concessions
00:52meaning they can pay reduced or zero CGT when they sell their business
00:57and any business with annual turnover below two million dollars or below six million in assets
01:04will remain eligible.
01:06Treasurer Jim Chalmers has rejected suggestions that the government's failing to sell its budget
01:11saying that difficult reforms can be contentious
01:14and there are some in the industry that argue while startups should be carved out
01:19the tech sector needs to stop running scare campaigns.
01:23Take a Bex and have a lie down.
01:25I mean I think it is just appalling that you have this sort of hyperbole of going on
01:34without people firstly thinking through what might be fair.
01:39Questions being debated for Australia's future.
01:44Like.
01:44Bye.
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