The Prime Minister Anthony Albanese has confirmed that the government’s planned changes to capital gains tax (CGT) will be introduced without any initial carve-outs for specific industries, including the technology sector.

The reforms will be included in a broader omnibus bill to be introduced to Parliament, alongside measures such as a new tax cut for wage earners, a $1000 standard tax deduction, and changes to negative gearing.

The proposed CGT overhaul would replace the existing 50 per cent discount on capital gains with a system linked to inflation, affecting a wide range of asset classes beyond property.

This has raised concerns that business owners, particularly those running fast-growing, low-capital startups, could face significantly higher tax bills upon sale depending on their income levels.

The government has indicated that while no exemptions will be included in the initial legislation, a second tranche of laws will address implementation details, including how specific business types, such as startups, are treated.

Ministers have suggested that any future exemptions could be defined either by sector, such as tech, or through broader criteria targeting high-growth, low-capital businesses across industries.

Treasury is currently consulting with stakeholders including the Tech Council, COSBOA, the Australian Chamber of Commerce and Industry, and the National Farmers Federation.The decision has drawn mixed reactions.

Some industry groups warn that the impact will extend beyond technology companies to small and medium enterprises across multiple sectors, including tourism and education.Others argue that targeted carve-outs would be insufficient and that broader redesign of the policy is needed.

Independent MPs and opposition figures have criticised the approach, calling for greater consultation and warning that exemptions limited to tech would be too narrow.The Coalition has also signalled it may push for a Senate inquiry into the reforms.

The government maintains that the changes are part of a broader effort to modernise the tax system while ensuring housing affordability and fairness for future generations.