Budget tax changes spark small business backlash | Sunrise

The Australian government's latest budget includes $3.8 billion in tax cuts and investments for businesses, featuring a permanent $20,000 instant asset write-off and loss carry-back provisions. Small business owners have raised concerns about controversial trust and capital gains tax changes, though the government states 92% of businesses remain unaffected. The budget measures are designed to help young Australians enter the housing market, while political debate centres on the Prime Minister's characterisation of budget critics as 'barely coherent'. Get the latest news » https://7news.com.au 7Plus » https://7plus.com.au/ More from Sunrise » https://sunrise.com.au Subscribe to Sunrise » https://7news.link/SunriseSubscribe Subscribe to the Sunrise newsletter » http://7sunrise.link/Newsletter Connect with Sunrise online: Facebook » https://www.facebook.com/Sunrise Instagram » https://www.instagram.com/sunriseon7/ TikTok » https://www.tiktok.com/@sunriseon7 X » https://x.com/sunriseon7 #SunriseOn7 #7NEWS