Coalition Plans Campaign to Support Small Businesses After Budget Changes

Shadow Treasurer Tim Wilson will formally unveil a new opposition campaign aimed at small businesses during a speech to the National Press Club on Wednesday. The campaign, called 'Stand with Small,' seeks input from business owners on restructuring the economy to support the sector.

Wilson said a future Coalition government would consult on a 'Small Business Act' that would include faster government and big-business payments and a uniform definition of a small business.

A group of 40 business owners released an open letter criticizing the government's planned capital gains tax changes. The letter described the measures as an 'aspiration ambush' that would affect startups and growing businesses. The government will replace the 50 per cent capital gains tax discount with an inflation-based discount starting July 2027.

All real gains will be subject to a 30 per cent minimum tax. Assistant Minister for Science Andrew Charlton said claims circulating on social media about the changes are factually incorrect. He stated that the government is shifting taxation from nominal gains to real gains, which are substantially smaller.

Leader Addresses Migration Policy Opposition Leader Angus

Taylor denied that he single-handedly decided the Coalition's migration policy. He said the policy went through normal party room processes and was discussed with senior colleagues. The policy, unveiled last Thursday, would limit Australia's net migration intake to one person per new home built. Taylor said migration numbers need to be capped to match available housing.