Business groups are howling over the budget, and it’s getting messy

Australian business groups united Thursday against Treasurer Jim Chalmers' budget tax overhaul, with the legislation introduced to parliament drawing fierce opposition from small businesses, tech entrepreneurs, and major lobby groups. The government's surprise asset taxation changes, which apply equal tax rates across investment classes, risk discouraging innovation and damaging Australia's international investment reputation, critics argue.

Summary by Glance · SMH