By Oscar Godsell
Publication Date: 2026-05-17 00:08:00
Prime Minister Anthony Albanese was mocked by startup founders using AI-generated images portraying him as their company’s newest “silent partner”.
The posts mock Mr Albanese for taking up to 47 per cent of future profits under Labour’s recently announced capital gains tax changes.
Labor abolished the 50 per cent CGT rebate and replaced it with inflation-adjusted cost base indexation combined with a minimum tax rate of 30 per cent on capital gains.
High earners would have to expect an even higher capital gains tax rate of up to 47 percent as part of the indexation model.
“We would like to officially welcome our new business partner Anthony Albanese,” read many social media posts.
“We are pleased to announce that, completely coincidentally, Anthony Albanese now owns a 47 percent stake.”
Amid the growing backlash, Mr Albanese defended the government’s record during a press conference and said he supported the start-up sector.
“There are a number of incentives that we have in…
