Under 40s Business Builders Open Letter to Prime Minister

Under 40s Business Builders Open Letter to Prime Minister

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The Federal Budget just dropped a massive tax hit on Australia's business builders. By removing the CGT discount on shares, the Government has ambushed the very people it says it wants to back - business builders and the Australians they hire.

Young business builders have written an open letter to the Prime Minister asking him to reverse the change. If you build or run an Australian business - sign with us. Add your name, your business, and your role.

The Federal Budget just dropped a massive tax hit on Australia's business builders. By removing the CGT discount on shares, the Government has ambushed the very people it says it wants to back - business builders and the Australians they hire.

Young business builders have written an open letter to the Prime Minister asking him to reverse the change. If you build or run an Australian business - sign with us. Add your name, your business, and your role.

Under 40s Business Builders Open Letter for PM

Are you a Business Builder and are under 40?

Add your name, business, and role to the open letter going to the Prime Minister. The more Business Builders who sign, the harder we are to ignore.

Dear Prime Minister,

We, the undersigned, are the people the budget says it wants to back. We are young Australians under the age of 40 who are doing our best to build a successful Australian business.

We work the hours. We carry the risk.

We do it because we believe in the business we are building, and because we have been told, repeatedly, that this spirit of having a crack is exactly what the country needs.

Unfortunately, the Budget your government just announced tells us a very different story.

Rather than back us, you have ambushed us with a massive tax increase, a tax that will hit us, the Australians we hire, and the investors who believe in us, the hardest.

The consequence isn’t a budget that helps young people get ahead; it’s a budget that will ensure that young business builders, people like us, are much more likely to get left behind.

By removing the CGT discount on shares, and replacing it with a cost base indexation scheme, you have clocked us with a massive tax hit and then come up with a replacement that will make things even worse.

This aspiration ambush doesn’t just impact tech startups either, it impacts every growing business in Australia. Meaning every small business that wants to become a medium-sized business and every medium-sized business that wants to become a big business. These are the business builders that have just been hit for a six by a tax change dropped on us out of the blue.

Many of the young business builders who have signed this letter support the measures in the budget that make it easier for young Australians to buy a house, including removing the CGT discount on the sale of residential investment properties.

But the changes to the CGT discount on shares will do nothing to make houses more affordable; all they will achieve is to suck the ambition, drive and hope out of the hearts of young business builders nationwide.

Surely that can't be the plan?

Between us, we are building new businesses across digital innovation, retail, and manufacturing. We are the exact small-to-medium enterprises trying to scale into the major employers of tomorrow.

We are signing as ourselves. We invite every other young business builder in the country to sign with us. Prime Minister, we respectfully look forward to your reply.

Signed,
The undersigned — young business builders of Australia

The 45 signatories:

  1. Frank Greeff — Kinso, Co-Founder
  2. Jason Andrew — Arbor Group, Managing Director
  3. Dr. Ric Porteous — Goodwork.ai, Head of Generative AI and Technology
  4. Damien Fitzpatrick — Pillar Performance, Founder
  5. Adrian Osman — me&u, Co-founder & COO
  6. Kim Teo — me&u, Co-founder & CEO
  7. Adam Hewitt — Cyber Revolution, Co-founder & CEO
  8. Joe Harris — Alloy Robotics, CEO
  9. Will Ashford — TrueState, Founder & CEO
  10. James Frankel — PropWiz, Founder & CEO
  11. James Gabb — Sauce, Founder & Co-CEO
  12. Dr William Crowe — HEO, Co-founder & CEO
  13. Hiranya "HJ" Jayakody — HEO, Co-founder & CTO
  14. Tom Hawley — Azura Financial, Director
  15. Alex Bergsaaker — Goodwork.ai, Head of Retail AI and Data
  16. Nick Kamper — Purpose Bureau, CEO
  17. Giorgia Rossi — Possum Play, Co-Founder
  18. Renee Cizel — Possum Play, Co-Founder
  19. Alex Zaccaria — Linktree, Co-founder & CEO
  20. Alistair Blenkin — ProcurePro, Co-founder & CEO
  21. Jacky Wong — CIM Build, Co-founder & CIO
  22. Kevin Le — Build, Co-founder & CIO
  23. Shane Brunette — Summ, Co-founder & CEO
  24. Maxine Minter — Co Ventures, Founder
  25. Jack Watts — Bastion, Founder
  26. Alex Debney — Early Bird, Founder
  27. Brad Joffe — Apate.ai, Co-Founder
  28. Anna O'Connor — Sound Slam, Co-Founder
  29. Lucy Campbell — Sound Slam, Co-founder
  30. Lauren Perrett — BubbaDesk, Founder
  31. Sarah Warmoll — The Careers Department, Co-founder & COO
  32. Samantha Devlin — The Careers Department, Co-founder & CEO
  33. Georgia Vidler — Human, Co-founder
  34. Marc Hermann — Everlab, Co-founder
  35. Sam Kothari — Everlab, Co-founder
  36. Matt Hinds — Sauce, Founder & Co-CEO
  37. Alan Nguyen — Boringstack, Founder
  38. Mona Chiha — JurisTechne, Founder & CEO
  39. Justin Teo — Boringstack, Founder
  40. Sachin Shah — Kindling, Co-founder
  41. Nathan Wang — Edexia, Co-founder
  42. Daniel Gibbon — Edexia, Co-founder
  43. Brendan Banfield — Gridsight, Co-founder & CEO
  44. Kurt Walkom — Gridsight, Co-founder & CCO
  45. Hugh Chan — Gridsight, Co-founder & Head of Product & Technology

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