Like thousands of other Australian entrepreneurs, I took a massive risk to build something from nothing.

I sold my house to get a tourism business started on a quiet corner of Lake Burley Griffin in Canberra. We grew to support hundreds of jobs across tourism, manufacturing and training.

That risk-taking is exactly what Australia needs more of — but Labor’s 2026 Budget is about to make it far harder.

In the Budget, the Government announced it will scrap the 50% capital gains tax discount and replace it with inflation indexation plus a minimum 30% tax on gains from 1 July 2027. 

While they say small business CGT concessions will remain “unchanged,” the removal of the general discount still slams founders, early employees and investors in startups and small businesses — people who often build companies with little or no initial capital and take years of low or no salary in exchange for equity.

For many successful exits, this change effectively doubles the tax bill — from around 23–24% to 46–47%.

That is not tax reform. It is a tax grab that punishes the very people who create jobs, innovation and opportunity.

Young founders, side-hustle entrepreneurs and small business owners already face enough barriers. This policy sends a clear message: don’t take the risk, don’t build something big, and don’t try to create wealth in Australia.

The result will be fewer startups, fewer jobs, less investment and more talented Australians taking their ideas offshore to countries that actually reward entrepreneurship.

We don’t need more redistribution — we need more aspiration.

Small businesses and startups are the engine room of our economy. They deserve tax settings that encourage risk and reward success, not punish it.

That’s why I’m calling on the Albanese Government to immediately overturn this decision and protect the CGT treatment for small businesses and startups.

Sign this petition today and share it with every entrepreneur, small business owner, investor and young Australian you know.

Together we can force a backdown before this policy kills the next generation of Australian success stories.

Thank you for standing with Australia’s innovators and risk-takers.

Nick Tyrrell