Farquhar warns punitive CGT rates are driving start-ups away

Tech leader Farquhar has criticized current tax regulations affecting the industry. He specifically targets the Capital Gains Tax, describing it as a punitive slug. The Australian reports that these high rates are driving start-ups away. Farquhar argues that the financial burden is too heavy for emerging companies. This stance suggests that the current tax environment is hostile to innovation. The comments highlight a growing concern among tech founders regarding policy. The departure of start-ups poses a risk to the broader technology ecosystem. The remarks serve as a call to review the impact of CGT on the technology sector.