<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>One of </span><a href="https://www.9news.com.au/australia" rel="" target="_blank" title="Australia's"><span>Australia's</span></a><span> leading doctors has warned Labor's removal of discounts to </span><a href="https://www.9news.com.au/national/federal-budget-2026-labor-needs-greens-to-pass-tax-reform/64bd274d-0367-4f47-9d0d-08f2ffe751cc" rel="" target="_blank" title="capital gains tax"><span>capital gains tax</span></a><span> will damage the country due to the impacts it will have on small </span><a href="https://www.9news.com.au/business" rel="" target="_blank" title="businesses"><span>businesses</span></a><span> and start-ups.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Last week's controversial </span><a href="https://www.9news.com.au/federal-budget" rel="" target="_blank" title="budget"><span>budget</span></a><span> handed down by Treasurer </span><a href="https://www.9news.com.au/jim-chalmers" rel="" target="_blank" title="Jim Chalmers"><span>Jim Chalmers</span></a><span> saw the 50 per cent discount to the capital gains tax axed, meaning business owners could face paying up to 47 per cent in taxes if they sell their company.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It has been met with condemnation by small business owners across the country, who have resorted to an </span><a href="https://www.9news.com.au/national/anthony-albanese-capital-gains-tax-changes-meme-trend/677d3bec-ed50-4b16-ae90-a3de339dffd6" rel="" target="_blank" title="AI trend"><span>AI trend</span></a><span> to mock Chalmers and Prime Minister </span><a href="https://www.9news.com.au/anthony-albanese" rel="" target="_blank" title="Anthony Albanese"><span>Anthony Albanese</span></a><span>, and Dr Nick Coatsworth has warned the changes could shatter the "psyche of the country".</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/rentvesting-tax-reform-to-push-people-away-from-popular-strategy/59229608-0e12-4a62-8aad-47806eb678bc" rel="" target="_blank" title=""><strong><span>Is rentvesting dead? Tax reform to push people away from popular strategy</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We're becoming a weaker nation, of that I have absolutely no doubt," Coatsworth, who appears as a host on the Today Show, said in a post on social media.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"This is a risky world, and all of our competitors in the region and around the globe are taking more risks, and here we are with a budget that encourages us as a nation to take less risks."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Coatsworth claims even if the majority of Australians won't be directly impacted by the changes, he said it would have a ripple effect across the nations that would hurt millions.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/federal-budget-2026-capital-gains-tax-leading-doctor-impassioned-plea-after-hit-to-small-businesses/6164ff71-9cbe-4739-b67d-09d16390c978" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>He claimed the government was hoping Aussies would wave it through, given many are not involved in business or startups.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>LIVE UPDATES:</span></strong><span> </span><a href="https://www.9news.com.au/world/us-israel-iran-war-live-updates-may-20-donald-trump-latest-world-news-headlines/3012435c-3662-4645-a7e4-de753a7166f4" rel="" target="_blank" title=""><strong><span>Trump finally gives deadline for Iranian strike</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"[It] makes us less of a destination for business, makes us a less strong economy, that's the problem with it," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"That is going to affect us all, that's going to affect us badly."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Opposition leader </span><a href="https://www.9news.com.au/angus-taylor" rel="" target="_blank" title="Angus Taylor"><span>Angus Taylor</span></a><span> continued his robust criticism of the budget, chastising the prime minister for supposedly "laughing off" criticisms and concerns over its impacts on Australians.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"This is an absolute disaster for our country. This budget was a stinker," Taylor told the Today Show.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><em><strong><span>NEVER MISS A STORY:</span></strong></em><span> </span><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><p><em><strong><span>Download the 9NEWS App here via</span></strong></em><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727"><em><strong><span>Apple</span></strong></em></a><span> </span><em><strong><span>and</span></strong></em><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1"><em><strong><span>Google Play</span></strong></em></a></p></li><li><p><em><strong><span>Make 9News your preferred source on Google by</span></strong></em><span> </span><a href="https://9.nine.com.au/8x987w"><em><strong><span>ticking this box here</span></strong></em></a></p></li><li><p><em><strong><span>Sign up to</span></strong></em><span> </span><a href="https://login.nine.com.au/edm?client_id=nineatnine"><em><strong><span>our breaking newsletter here</span></strong></em></a></p></li></ul></div></div>