Labor has been accused of rushing through its controversial capital gains tax changes that a $6 billion asset management group warns will lead to even higher unemployment.

Treasurer Jim Chalmers on Tuesday afternoon introduced amendments to the capital gains tax laws to carve out start-ups from a minimum 30 per cent tax burden, just hours after it was listed on the parliamentary notice paper.

However, Shadow treasurer Tim Wilson said he had only received a briefing about the update that morning, despite the Treasurer flagging amendments last month.

“Just before midnight last night, the Treasurer flagged a new tax Bill that he hasn’t flagged to the Parliament, which is being introduced this morning,” Mr Wilson told reporters.

“The Treasurer is now trying to bully the Parliament into passing tax changes which have not been discussed by the Parliament and have not been flagged or considered by the Parliament.

“This is a very distressing trend. At every point, this government has taken no interest in democracy or standing up for basic processes.”

An expected vote on the Bill has now been pushed back to Wednesday, after initially being scheduled for Tuesday.

“We still don’t know the details of it, and this is what’s most distressing,” Mr Wilson said. “The kinder, gentler Parliament has already been suffocated by this treasurer.”

Wilson Asset Management chairman Geoff Wilson, whose group invests $6 billion on behalf of 130,000 investors, said that even with carve-outs for start-ups, Labor’s new capital gains taxes would still discourage future entrepreneurs, with unemployment in September rising to a five-year high of 4.7 per cent.

“It will lead to further, higher unemployment as the hundreds of thousands of small companies that would be established each year don’t get established,” he told The Nightly.

“Unfortunately, you’re not going to get the new companies coming through that will employ people so it will probably end up giving us a more structurally higher unemployment level.”

Mr Wilson also argued the carve-out would be insufficient to mitigate the worst effects of the new minimum CGT, including more onerous compliance requirements that would convince innovators to move overseas.

“All this does is negative for productivity,” he said.

“It’s just so naive to think that a few carve-outs is going to have any positive impact.”

Wilson Asset Management hosted a rival, anti-reform talk in the room directly across from the official federal Senate inquiry into Labor’s CGT changes in June.

Dr Chalmers told Parliament that innovative start-ups would be eligible to receive a 50 per cent discount under Labor’s Innovative Business Capital Gains Tax Concession, with this carve-out being introduced following an outcry from the tech sector about the original May Budget plan.

“The concession supports early investment in innovative businesses by providing eligible founders, employees and investors with access to a 50 per cent capital gains tax discount on equity investments,” Dr Chalmers told parliament on Tuesday.

“This means early investors in innovative start-ups that begin with a low or zero cost base still receive a significant discount on a future capital gain.”

The innovative business CGT concession of 50 per cent on equity investments will apply to eligible founders, staff and investors, sparing them from the minimum 30 per cent tax coming into effect on July 1, 2027.

“This will support investment in innovative Australian start-ups, and the continued growth of Australia’s start-up and venture capital system,” Dr Chalmers said.

“Critical technologies like artificial intelligence, quantum computing, robotics and clean energy will play a critical role in driving our nation’s future economic growth, productivity and jobs.”

Dr Chalmers last month flagged the Federal Government would announce a capital gains tax carve-out for innovative start-ups, including the scrapping of a $10 million lifetime cap on tax concessions along with a strict definition of what constituted “innovative” to qualify for the 50 per cent CGT discount.

The tech sector campaigned against the plan to double the maximum capital gains tax rate to 47 per cent, as part of that plan for a minimum 30 per cent tax, leading to Dr Chalmers announcing that the minimum hold period for investors to be eligible for the 50 per cent CGT concession would be raised to five years, up from three.

Companies would also get the 50 per cent CGT discount if they were 15 years old, up from 10 years.

The Bill also includes a 50 per cent tax offset rate on research and development, from July 1, 2028, and an end to the 100 per cent fringe benefit on electric cars from April 1, 2029, when a 25 per cent discount for EVs under the fuel-efficient luxury car tax threshold will apply.

A separate Bill on applying a minimum 30 per cent tax on discretionary trust distributions, from July 2028, was also listed for Tuesday.