Business owners mock Prime Minister Anthony Albanese’s CGT changes with AI meme trend

“Big shoutout to my silent business partner, Anthony,” Michelle, owner of beauty salon Cocobelle, wrote on Facebook.

“Emphasis on silence. He gets 47 percent of the profits without ever answering a phone, changing a treatment bed or doing a Hydrafacial.”

An AI-generated photo of Michelle and Albanese accompanied the caption.

It’s one of a slew of memes touting the same “47 percent figure.”

The figure refers to changes to the capital gains tax credit introduced in the federal budget last week.

Under the new measures, the 50 percent CGT discount will end, giving entrepreneurs the opportunity to pay 47 percent tax when they sell their business.

Treasurer Jim Chalmers has said the government will work to do what’s right for start-ups and business founders, leaving open the possibility of exceptions to the rule.

“We think that you are a very important part of the economy, in many ways the hope of the side when it comes to dynamism and productivity, and we will reflect and recognize that in our policies,” Chalmers said in parliament last week, addressing the founders of imaginary start-ups.

The backlash against police started – at least in meme terms – in the tech sector, but has migrated to other small businesses.

‘That’s so unfair’: Boost Juice founder wants to implement tax reforms

“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.

NEVER MISS A STORY: Be the first to receive your latest news and exclusive stories by following us on all platforms.