Senate inquiry examines controversial budget tax changes

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Senate inquiry examines controversial budget tax changes

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A two-day Senate inquiry is set to examine the government's budget proposals, including changes to capital gains tax and negative gearing, amid warnings from business owners, economists and investors about potential negative impacts. Chief Economist Shane Oliver discusses concerns that the tax changes could particularly harm start-ups and tech companies with low initial capital, while potentially reducing investment in the share market. The changes may create opportunities for first-time property buyers as investors exit the market, but could lead to reduced rental property supply and higher rents over time.

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