Small business demands full tax exemption carve-out

A two-day Senate inquiry into major tax reforms has concluded, with Labor considering fast-tracking exemptions for certain businesses from capital gains tax changes. NAB's head has urged the government to reconsider the changes, while small business advocates are calling for complete exemptions for all small businesses rather than selective carve-outs for niche sectors. Business owners report already laying off staff due to budget uncertainty, with concerns raised about the impact on small businesses that comprise 97% of Australian businesses and employ 40% of the private workforce.See omnystudio.com/listener for privacy information.