Finder Founder Relocates to Singapore Over Australian Tax Policy
1 report, 1 independent
Updated Fri 00:00
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What happened
Fred Schebesta, founder of Finder, is relocating his family from Sydney to Singapore. He criticized the Albanese government's proposed tax reforms, specifically the plan to replace the current 50 per cent capital gains tax discount with an inflation-based model. Schebesta cited Singapore's zero capital gains tax and business-friendly environment as reasons for the move.
From dailymail.com
Why it matters
Schebesta stated that the proposed tax reform was driving innovators overseas, suggesting that the Australian economic climate and tax structure are negatively impacting entrepreneurs. His departure highlights concerns regarding the viability of building companies in Australia under the proposed tax changes.
From dailymail.com
Who's involved
- FinderThe comparison website whose founder is relocating due to tax policy concerns