Medical, Tech Sectors Warn Labors CGT Change Could Send Australian Innovation Offshore

In this photo taken on May 5, 2026, research scientist Daria Kornienko places cortical and hippocampal cells on a cell culture plate into a CL1 unit before being placed in server racks and available to study via the internet, at Cortical Labs’ Physical Containment Level 2 (PC2) laboratory in Melbourne. William West/AFP via Getty ImagesAustralian innovation will suffer as a result of sweeping changes to the capital gains tax (CGT) regime, technology company representatives have told the Senate Economic Committee.The committee is hearing feedback on Labor’s Treasury Laws Amendment (Tax Reform No. 1) Bill 2026, which will impose a minimum CGT rate of 30 percent, as well as sweeping changes to negative gearing and taxation on trusts.