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The Canberra Times
The Canberra Times
National
Dana Daniel

The controversial budget shift treating startups as 'cash cows', stifling dreams

Aqeel Akber took a gamble when he started his first business, dropping out of a nuclear physics degree to pursue his dreams.

After slogging it out with no guarantee of success, he built up the company - an artificial intelligence consultancy - and sold it, using the cash raised to start a tech start-up, meos, with co-founder Mei Weng Brough-Smyth.

The pair were unimpressed by Labor's plan, unveiled in last week's federal budget, to replace the 50 per cent capital gains discount with an inflation-indexed model and minimum 30 per cent tax rate.

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