Boost Juice founder Janine Allis lashes tax reform

“I would risk my house, I would risk everything, and then I would work my butt off, risk everything, be away from my family, etc.,” she said.

‘To ultimately make a profit and give almost half to the government?

“Oh my god, that’s just so unfair. It doesn’t allow you to move forward, it doesn’t inspire you to actually take the risks you need to take.”

Negative gearing will be limited to new builds and will no longer apply to existing properties purchased after 7.30pm on May 12.

Both policies are typically applied to real estate, but the capital gains tax credit can apply to most capital assets, such as managed funds, while negative gearing can apply to other income-producing assets such as shares.

Allis said she believed the changes would undermine the ambition to start a business and fend off investment from global companies.

“If you tell people at the election that you’re not going to touch their negative gearing and capital gains taxes, you have to stick to it,” she said.

“The reason for that is because in business people make decisions based on what you tell them. If you don’t tell the truth or change your mind, it’s too big a decision.

“Maybe I misunderstood, I hope so. It hasn’t been passed yet, but if it is, the unintended consequences of this are dire.” 

Allis is one of the country’s most successful self-made entrepreneurs after founding the Boost Juice chain in 2000.

It grew into a global empire with more than 850 stores around the world.

Allis is co-owner of Retail Zoo, the holding company of Boost Juice, Betty’s Burgers and Salsas Fresh Mex.

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