Wilson Urges Founders to Build in US
Geoff Wilson says young entrepreneurs should set up businesses in America rather than Australia after capital gains tax changes.
Updated on Nov. 10, 2026 in Investing
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Get Ahead founder Geoff Wilson told young entrepreneurs to set up businesses in the United States instead of Australia. The comments follow Labor's changes to the capital gains tax discount, which restrict the 50 per cent discount to early-stage investors, founders, employee share scheme participants and companies with under $10 million in annual turnover.
Why it matters
Wilson argues that limiting the carve-out to small companies is anti-growth and anti-aspirational. The Get Ahead campaign has urged Treasurer Jim Chalmers to reverse the changes.
Under the Get Ahead calculator, a $66,000 share portfolio earning 10 per cent annually over 40 years would pay $673,811 in tax under the existing 50 per cent discount, compared with $1,305,123 under the new changes. The estimate of $631,312 in additional cost does not factor in further investment contributions.
The players
Geoff Wilson
Geoff Wilson is the founder of Get Ahead and chairman of Wilson Asset Management, an Australian investment firm he has long led.
Jim Chalmers
Jim Chalmers is Australia's Treasurer and the minister responsible for the capital gains tax changes under Labor.
The details
Labor has carved out early-stage investors, founders and employee share scheme participants from the new rules. Companies not carved out will be subject to an inflation-adjusted model with a minimum 30 per cent rate. Wilson said Australian businesses would fall or fail as a consequence.
Timeline
July: Wilson warned that restricting the carve-out is anti-growth.
10 November 2026: Wilson told News24 that young founders should go to America.
Market Dynamics
The changes restrict the 50 per cent capital gains tax discount to early-stage investors, founders, employee share scheme participants and companies under $10 million in turnover. House prices have also fallen since the tax changes discouraged property investment.
Investors holding shares under the new rules could face substantially higher tax than under the existing 50 per cent discount. Founders and small companies below $10 million in turnover remain eligible for the discount.
The takeaway
Tax settings can change the after-tax return on long-term share portfolios, so investors should model how changes affect their own holdings. Wilson's comments make clear that the debate over the discount is ongoing.
Further reading
For more on how tax settings shape investment decisions, see Investing coverage.
Live Poll
Do you support Labor's changes to the capital gains tax discount?
