Founders say startups are unintended victims of budget tax changes | The Business | ABC NEWS

The Treasurer is defending the government's contentious budget tax reform as businesses push back on the changes. Jim Chalmers told a room of investors the tax changes will free them from basing their decisions on tax outcomes to focus on good economics. The Treasurer also says consultations are continuing with the startup sector. James Bowe is the co-founder of OwnHome, a scaleup, backed by NAB and CBA, which has so far raised $40 million. He has told The Business "I'm really confident that this is a every well intentioned set of policy changes with regard to negative gearing and the capital gains tax reform. But there's been ... an accidental sort of loser in this budget, which is everyone who is looking to start a small business, start a business that can have a massive impact on a global scale or join one of those businesses." As for the tax changes on property, James Bowe is hopeful that changes to negative gearing tax and the capital gains tax discount will achieve their intended consequences. "Their figure of 75,000 incremental homeowners over the next ten years is like a really wonderful ambition... Again, I just come back to that's a phenomenal outcome if we can achieve that, it doesn't seem like it has to come at the expense of the ambition and the aspiration I think we also want as a country."
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