Small business owners criticize Labor's capital gains tax concession changes as insufficient

Summary

Small business owners, including an Indigenous startup called Yarn'n, are criticizing Labor's proposed changes to capital gains tax (CGT) concessions. While the government has signaled willingness to update the definition of a small business to expand access to CGT concessions, business groups argue the changes are insufficient and that broader simplification and reform of CGT carve-outs is needed. Critics say the current proposal is only a small step and are calling for a pause on changes until more substantial reforms can be implemented.