Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Hansard source

Once again, I inform the member asking the question that our budget is reducing a range of taxes and costs for small business in the $3½ billion that we have put forward. The changes to capital gains tax will result in different outcomes for different businesses across a range of systems. What we are doing is replacing one discount with another discount—a discount based upon real gains rather than nominal gains going forward. That is what we are doing.

We are consulting, as we said we would on budget night, including with the Council of Small Business. They have had formal meetings with Treasury. We're continuing to consult on those measures. We said we would do that. That is what we are doing. On Thursday, we'll introduce the legislation that provides for the key measures going forward.

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