CGT rethink should be everyone’s business

Media release: 25 May 2025

The Australian Chamber of Commerce and Industry (ACCI) says carveouts of CGT changes won’t go far enough in avoiding the damage to business investment in Australia.

Australia’s largest and most representative business network says the government should hit the reset button on the whole approach for all businesses and avoid rushing legislation through parliament this week.

ACCI Chief Executive Officer Andrew McKellar acknowledged Prime Minister Anthony Albanese’s commitment to further consultation on the government’s approach but said the legislation should be paused to avoid unintended consequences on Australian business.

“Notwithstanding further consultation on the CGT changes, there is no need to introduce legislation that is damaging to business and rush it through parliament,” Mr McKellar said.

“We are all in favour of tax reform, but it has to be reform that benefits the economy, and you don’t do that by taxing business investment.

“We are concerned carveouts here and there would be wholly inadequate. What is needed is a complete reset.

“There are businesses of all shapes and sizes that will be disadvantaged by these changes, not just in tech, and not just start-ups.

“The focus should not be on carve-outs to ameliorate damage to the business community, but to reject the notion that damage should occur to the business community at all.

“The government says its priority is lifting our dwindling productivity, but you won’t get business investment if you are going to tax investment; it is counterproductive.”

Mr McKellar renewed ACCI’s calls for the government to take the CGT hit on business investment off the table and start from the principle that investment in business should not be penalised.

“We call on the government to reject an approach that is focused on just ameliorating damage to the business community and move to an approach where investment is supported rather than penalised,” Mr McKellar said.