Albanese announces ‘generous’ capital gains tax exemptions for small businesses after budget backlash (opens original article in a new tab)

Australia's prime minister announced CGT exemptions for small businesses, raising the turnover threshold to $10m and providing carve outs for startups and testamentary trusts.

• All 2.7m Australian small businesses will get CGT exemptions.
• Turnover threshold for CGT concessions raised to $10m.
• Startups and testamentary trusts get tax carve outs.