One of Australia’s most successful entrepreneurs has slammed Labor’s budget and said she would never have started a global empire under the new capital gains tax rules.
Janine Allis founded Boost Juice in 2000, and the business has blossomed into a multi-million dollar empire, but she claims it would never have come to be under the Albanese Government’s “unfair” tax changes.
The former Survivor contestant took to Instagram to address the capital gains tax changes from Tuesday’s Federal Budget, despite being one who claims she “stays out of politics and budgets.”
“Australians are the people that want to have a go. They want to have control over their own destiny, and they want to have their own business, or get ahead with an investment property or other assets,” Ms Allis said.
“But unlike Anthony Albanese, who was able to set his family up for the future, if you’re starting as a 22-year-old today, or if you’re 30, and you risk everything and put it all on the line and then finally sell your business only for the government then to take half.
“I think that is just unfair. It doesn’t allow you to get ahead. It doesn’t inspire you to actually take the risks you need to take.”
Direct attack on Labor’s changes
The targeted video took direct aim at Labor’s changes, calling out the broken promises that many Aussies were taken aback by after it was announced the longstanding 50 per cent CGT discount on assets sold would be removed in 2027.
Claiming that these changes destroy the Australian dream, Ms Allis said: “The changes could potentially destroy the core of what Australians are.
“Australians are the people that want to have a go, they want to have control over their own destiny and they want to have their own business or get ahead with an investment property.”
Empire would never have started
One of Australia’s most successful entrepreneurs then went so far as to claim that the Boost Juice empire would never have started if she was trying to get it off the ground in 2027.
“The new budget, in my opinion, is destroying that,” Ms Allis said.
“If I started Boost Juice bars in July 2027, you put everything on the line … to eventually make a profit and then give nearly half to the government, that is just so unfair.”
A long-time investor on the Shark Tank series, Allis was strong in her opinions about the changes being unfair and uninspiring for young and keen Aussies looking to start a new business.
