9News | 'Far better off': Aussie bosses warn of mass exodus to NZ and USA by 9News AI generated summary, Read the full article for complete information. Australian business leaders warn that the federal government’s decision to scrap the 50 percent capital‑gains‑tax discount will trigger a “mass exodus” of entrepreneurs and investors to New Zealand and the United States, where the tax environment is friendlier. Allan Blood has already shifted his proposed $3 billion coal‑to‑fertiliser plant from Victoria to Southland, NZ, praising the government’s support and even considering listing his company on the NZX. Similarly, Bill Ovenden of The Lad Collective says the change will stifle Australia’s start‑up culture, which has produced firms like Atlassian and Canva, and predicts many founders will relocate to avoid up to 47 percent CGT. Other founders, such as Melbourne’s Matthew Elsey now based in the US, echo the sentiment, noting that the new tax regime makes success in Australia far harder to achieve and could divert billions of dollars offshore. Read more: https://www.9news.com.au/national/capital-gains-tax-discount-changes-australian-business-owners-being-lured-to-united-states-or-new-zealand/631bddd6-b7df-4456-a707-7599ffb9c2d7 #AllanBlood #BillOvenden #MatthewElsey #NewZealand #national