Carrington Clarke

Yep, that's correct.

The government has announced some pretty major changes.

This seems to be in response to some of the backlash we have seen.

So Treasurer Jim Chalmers says that they will lift the threshold for small businesses to access the 50% CGT discount up to $10 million, the revenue from the small business, I should say.

which they say will now mean that 98% of all active businesses will be eligible for the concessions.

There have also been some changes to the testamentary trusts, and they are still doing consultation both on them and on startups.

Now, there are lots of details to this, but effectively the government is carving out pieces.

There did seem to be a bit of an argument in part between economists.

Many economists wanted to leave the system as is.

They didn't want

to see more carve-outs, a rather kind of pure system, whereas a lot of business groups were saying that this could be very problematic for startups in particular, but businesses more broadly.

I mean, how do you sit, knowing the little detail that you've been able to get across, are these changes necessary or is this more of a political solution than an economic one?

But this kind of question, isn't it, that it's about whether or not you think small business is special and should be treated differently to large enterprises?

There might be changes to company structure in order to be classified as a small business as opposed to a not small business.

So the government has tried to come up with a forecast of how much this will cost.

So the original changes announced in the budget, those changes to negative gearing, the capital gains tax discount,

and taxation arrangements around trusts were supposed to make the budget $8.1 billion over the forward estimates to raise that amount of extra tax.

They say these concessions, these changes to the concessions will mean they're foregoing

$475 million.

Anyway, fascinating debate, one that you were part of.