Labor Amends Tax Overhaul Amid Backlash From Small Businesses, Start-Up Community

Australia’s Prime Minister Anthony Albanese (L) speaks as he stands with Treasurer Jim Chalmers during a press conference regarding budget changes in Sydney, Australia, on June 18, 2026. David Gray/AFP via Getty ImagesThe Labor government has announced changes to its tax overhaul amid a storm of opposition from business owners, accountants, charities, tech start-ups, and the medical technology field.On June 18, the government said it would make “targeted amendments” to the Treasury Laws Amendment (Tax Reform No. 1) Bill 2026, which has already passed the lower house and is currently subject to an ongoing Senate inquiry.