Australia's Prime Minister Anthony Albanese has announced expanded capital gains tax (CGT) exemptions for small businesses, including startups and testamentary trusts. The government increased the turnover threshold to $10 million, making the exemption "substantially broader and significantly more generous" in response to industry criticism.
Australia will provide "generous" capital gains tax exemptions for nearly all small businesses, with exemptions for startups and testamentary trusts. The annual turnover threshold for concessions will rise to $10m, benefiting 98% of businesses.
A House hearing on six GOP crypto tax bills exposed a lack of bipartisan consensus, with Democrats questioning exemptions for staking and mining rewards and industry leaders pushing for broader tax relief on everyday crypto payments.
India's government and RBI introduced measures to attract foreign portfolio investors and non-resident funds into government bonds and bank deposits, including tax exemptions and risk mitigation strategies, leading to a significant rupee gain.
FIFA has reached an understanding with the US Treasury allowing all 48 teams at the 2026 World Cup to apply for federal tax exemption on their tournament earnings. The breakthrough resolves months of concern that 30 nations without double taxation agreements with the US would face significant tax burdens, potentially losing over 20% of their earnings. While federal taxes (up to 37% for individuals, 21% for corporate entities) will now be exempt, state and city taxes remain unresolved, creating a "postcode lottery" where a team's final liability depends on where matches are played. The tournament begins June 11, 2026.
