Australia news LIVE: Chalmers eyes 50 per cent CGT for start-ups after backlash; Albanese ‘very worried’ about renewed violence in Middle East as US strikes Iran

Treasurer Jim Chalmers is reportedly considering a significant increase in the capital gains tax (CGT) for start-ups, potentially reaching 50 percent. This proposal follows considerable backlash regarding the government's initial CGT plans. Meanwhile, Prime Minister Anthony Albanese has expressed deep concern over escalating violence in the Middle East, particularly following recent US strikes targeting Iran. The situation in the Middle East is being closely monitored due to its potential global implications.

This situation highlights potential shifts in Australian tax policy affecting new businesses and underscores the government's engagement with international security concerns.