Susan Stone

So they'll let somebody buy into the business because at that stage, they're not able to pay really high salaries.

So to attract talent, what they'll do is they'll say, we'll let you have a share of how much this business is going to grow.

So it's these kinds of situations where a higher tax may go against

getting people interested in investing.

Yes, it is.

It's negotiating both on potential carve-outs for startups and fast-growing firms, as well as I think they're still working on what foreign investor tax relationship is going to be as well.

No.

Yes, absolutely.

And a lot of those business, what they're often concerned about are the trusts because a lot of businesses also set up a trust.

You know, many business owners say it's asset protection.

Other people say it's tax avoidance.

So they're upset because now there's a minimum tax on trusts.

And the government's trying to close that loophole by just making a flat 30%.

Yeah, I'm not very sympathetic to that argument.

If they define that the only way Australians can grow wealth is through the investment into housing, because this takes away a lot of the tax perks.

of investing in housing, which we know for a long time has led to very distortionary housing market in Australia.

Because the majority of Australians put their money either in housing or they put it into super.

Now, super is exempted from all of this.

So people can continue to put money into super.

Self-managed super funds are also not affected by any of this.