News Summary

• Treasurer Jim Chalmers has faced questions about capital gains tax carve-outs.
• Issues for startups and the tech sector were acknowledged on budget night.
• But this week the government announced further consultation with small business groups also unhappy with the tax change.
• Small business groups want the federal government to lift the thresholds for CGT concessions to companies with an annual turnover of up to $10 million.
• Labor has argued about nine in ten small businesses are eligible for these concessions.
• But business groups said that leaves about 200,000 companies with a turnover of between $2m and $10m unable to access the tax benefits.