Commonwealth Bank boss urges rethink of applying capital-gains-tax change to non-passive assets
Matt Comyn, chief executive of Australia's largest bank Commonwealth Bank, said the government should reconsider applying its capital-gains-tax change to non-passive assets such as operating businesses. According to ABC, he flagged the reform's potential effect on investment and entrepreneurship.
Matt Comyn, chief executive of Commonwealth Bank, Australia's largest lender, said the government should reconsider applying its planned capital-gains-tax change to non-passive assets such as operating businesses. According to ABC, Comyn made the case by pointing to the reform's potential effect on investment and entrepreneurship.
The intervention came as the government defends its negative-gearing and capital-gains-tax measures. Comyn's comments spotlight the concerns of the banking and business community about the reform, while the government stresses that the changes aim for a fair and sustainable tax base.
The debate will be shaped as technical details are clarified over how the thresholds are defined and which assets fall within scope. This article is for information only and is not investment or tax advice.
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