When all the pitfalls for small business are combined it is indeed a miracle that the nation’s biggest employer can keep any of their doors open. More than 45,000 businesses have disappeared from across Australia since 2022, the first year of Labor Government.
Now Albo’s capital gains tax of 47 per cent, or death tax in disguise will finish off any small business still operating. Investment homes have also been targeted with a 47 per cent tax on capital gains if sold after July 2027.
The residential housing market has nearly collapsed as a result and recent home auctions have seen clearance rates plummet.
With an election two years away it is doubtful there will be much of anything left standing in Australia by then.
