Multimillionaire Boost Juice founder Janine Allis has criticised the federal budget's tax changes, saying they are "just so unfair".
In a social media video, the typically apolitical Allis said Labor's decision to wind back the capital gains tax discount and grandfather negative gearing would "destroy the core of what Australians are".
"I would put my house on the line, I put everything on the line, and then I work my absolute butt off, risk everything, be away from my family, etc," she said.
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"To eventually make a profit and give nearly half to the government?
"Oh my god, that is just so unfair. It doesn't allow you to get ahead, it doesn't inspire you to actually take the risks that you need to take."
The government broke an election promise by moving to replace the capital gains tax discount with a less generous inflation-linked rate and a minimum 30 per cent rate.
Negative gearing will be limited to new builds and no longer apply to any existing properties bought after 7.30pm on May 12.
Both policies are commonly used for property, but the capital gains tax discount can apply to most capital assets, like managed funds, while negative gearing can apply to other income-producing assets like shares.
Allis said she believed the changes would kill ambition to start a business and ward off investment from global businesses.
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"If you tell people on election that you're not going to be touching their negative gearing and capital gains tax, you have to stick with it," she said.
"The reason being is people make decisions in business based on what you tell them. If you don't tell the truth or change your mind, it's too big of a decision.
"I might have misunderstood it, I hope I have, it's not passed but if it does, the unintended consequences of this is horrific."
Allis is one of the country's most successful self-made entrepreneurs after founding the Boost Juice chain in 2000.
It went on to become a global empire with more than 850 stores across the world.
Allis is the part-owner of Retail Zoo, which is the holding company for Boost Juice, Betty's Burgers and Salsas Fresh Mex.
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