Government announces CGT carve-outs for small business, start-ups and trusts | ABC NEWS

The prime minister says the government will increase the turnover threshold for existing small businesses 50 per cent active assets from $2 million to $10 million.
Albanese has also announced the government will introduce a new innovative tax concessions for start-up businesses.
He says the government will go further and exempt income from all types of discretionary testamentary trusts from the minimum tax, provided they are established for genuine testamentary purposes.
Treasurer Jim Chalmers says the changes are aimed at proving more support for small business, incentives for innovation and clarity for investors. 
He also says there could be further changes to the proposed legislation as consultation continues. 

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