Capital Gains Tax - business consultation

Question

1. Was the department consulted by Treasury or the Treasurer's office on the sectoral impacts of the Government's CGT changes before they were announced in the Budget? 2. Has the department provided advice on how these changes could affect investment, business formation or business exits in sectors within its portfolio? 3. Has the department identified any risks for growth businesses and capital within its portfolio? 4. Has the department consulted stakeholders in its sector about the impact of these CGT changes since Budget night? 5. Which stakeholders have raised concerns with the department about the changes? 6. Has the department received concerns that the changes could discourage Australians from starting, scaling or selling businesses in Australia? 7. Has the department received concerns that the changes could push capital, projects or business activity offshore? 8. Did the department contribute to the Office of Impact Analysis process, including the three-page impact analysis? 9. Does the department consider a three-page impact analysis adequate for a tax change with economy-wide implications across its portfolio? 10. Will the department provide the committee, on notice, with any advice, correspondence or stakeholder feedback it has received on the impact of the CGT changes?

Answer

Please see the attached answer.

Documents

• Question with answer (PDF) (opens in a new tab)
• SQ26-000978.pdf (opens in a new tab)