Europe Asia News

Australian Prime Minister Anthony Albanese stated that the turnover threshold will be raised from 2 million to 10 million dollars in order to extend the 50% capital gains tax discount to cover more businesses.

Albanese noted that this measure will be implemented in addition to existing tax benefits and the new small business support measures announced in the budget, emphasizing that the goal is to work with entrepreneurs to make Australia an attractive country for investment and business creation.

He also stated that opportunities for first-time homebuyers and tax reductions for employees will remain central to the government's reform agenda.