Majority of founders won’t leave Australia over CGT, Senate told (opens original article in a new tab)

Former Treasury official Miranda Stewart testified at a Senate inquiry that most start-up founders would not leave Australia due to capital gains tax changes, citing that people are less mobile than capital and empirical evidence shows only some move in response to tax changes.

• Former Treasury official Miranda Stewart questioned claims that CGT changes would force start-up founders to move businesses overseas
• Stewart stated that while capital is mobile, people may not be, and majority do not move due to tax changes
• Senate inquiry heard empirical evidence shows some individuals move in response to tax changes