Australiatax

The Australian government has secured the passage of its first tranche of budget tax reform legislation after reaching an agreement with the Australian Greens on June 23.

• The federal government released a consultation paper detailing an alternative mechanism to help eligible early-stage startups retain their 50% capital gains tax discount, delaying final legislation until late 2027.
• Eligible independent firms must hold an annual turnover under $50 million, operate for under a decade, and issue equity after June 30, 2027.
• The broader market faces a July 1 transition substituting the flat 50% discount with cost base indexation and a 30% minimum tax rate.

The government released a consultation paper detailing a capital gains tax carveout to preserve the 50% discount for eligible startup investors.

States have been competing to attract AI data centers, offering tax breaks to companies like Meta, Amazon, and Microsoft. Now Georgia is at the center of a growing debate over whether those incentives are still worth the cost. (Produced and Edited by Paul Detrick; Senior Producer Andrew Satter; Executive Producer Josh Block)

Treasurer Jim Chalmers is poised to imminently unveil a targeted capital gains tax workaround for the startup sector.

US Treasury Secretary Scott Bessent says the Trump administration has asked Congress to eliminate the gas tax during testimony before the House Ways and Means Committee.

Bloomberg's Anna Kaiser joins Katie Greifeld on "Bloomberg Real Yield." Florida Governor Ron DeSantis unveiled a much-awaited proposal to gradually eliminate property taxes on the vast majority of primary homes in the state, a measure that would transform the way the state finances itself.

Anna Wong, chief US economist at Bloomberg Economics, joins Katie Greifeld on "Bloomberg Real Yield." Bloomberg Economics expects the May jobs report to show payrolls rising by 95,000.

Australia’s tech sector and leading economists have unified in a major pushback against the Albanese government’s proposed capital gains tax overhaul.

President Donald Trump says Democratic policies on crime and taxes were leading to an exodus of businesses and taxpayers from the nation's financial capital.