Aussie comedian Dave Hughes has called on Anthony Albanese to call an election two years early unless the federal government scraps its major tax reforms.

The Prime Minister and Treasurer Jim Chalmers have come under heavy fire in recent weeks over claims they broke election promises by restricting negative gearing to new investment properties and introducing a minimum 30 per cent capital gains tax (CGT).

The longstanding 50 per cent CGT discount is being scrapped, with some high-income business owners warning it could leave them paying tax at rates as high as 47 per cent when selling a business.

Business owners launched a viral AI meme campaign, sharing images depicting Albanese as an unwanted 'co-founder' or 'silent partner', amid claims the changes would give the government a larger share of their success.

As the Prime Minister used Saturday's Victorian Labor state conference to strongly defend the tax reforms, Hughes took to social media to slam the government in a furious spray while detailing a conversation he had just had with a business owner in Brisbane about the Federal Budget.

'The capital gains tax has killed him. He's got a 100 staff and doesn't know what he's going to do as he has no motivation anymore,' Hughes began.

'He also said negative gearing wasn't his issue - and it's not mine either. I've never needed to negative gear a property as I've never worked it out.'

Hughes said that he would never have voted for the Albanese government had he known the CGT discounts would be axed within a year.

'I voted for Albo and Chalmers. They did not have a mandate for changing CGT,' he said.

'It's now the highest in the world. No one is going to want to invest in Australia.

'What the f*** are you doing?' 

'This affects every working Australian, and everyone who actually pays tax.

'And you've just doubled the take on it to waste, because you're f***king incompetent.'

Hughes issued a blunt ultimatum for the Albanese government - scrap the tax changes or call an election first thing Monday.

'The bumbling, fumbling idiotic responses this week by both Albo and Chalmers and every other minister in that f***king stupid government just solidified the fact we need another election,' he said.

'You didn't have a mandate for it. You lied blatantly, so it's not valid.'

'So let's go to the polls. Put it to the people.'

Hughes also referenced a recent Sky News Pulse poll, where only one per cent of voters surveyed said they will be better off after the Federal Budget.

'They (the government) blatantly lied before the election because they knew it would cost votes,' Hughes captioned his video.

'They are too stupid to know what the effects would be.'

Hughes' video was inundated with support from thousands of Aussies.

'Time to change this government that has wrecked Australia more than any so far in many, many decades,' tennis player Matt Ebden commented.

Television and radio host Mike Goldman added: 'They don’t care. They have the biggest public service per capita in the world who will vote for them.'

Artist Damien March added: 'Makes me really ill bro.  All hard working Aussies now have to get taxed again for gross financial mismanagement and any lack of business degrees in this lying.'

But not everyone agreed.

'A comedian giving political advice is probably the funniest joke of the year so far,' one man wrote.

A woman added: 'Stop criticising the government, anyone complaining about this already has a lot of money. Do you really want One Nation or the Coalition to be voted in?'

It's not Hughes' first rant at the federal government over the recent Budget.

'What are we doing governments? The NDIS is a cash machine for criminals now, it is meant to help disabled people! What the f***'s that?' he fumed in another clip.

On Saturday, Albanese used the Victorian Labor state conference to defend the negative gearing changes, which were 'the right thing to do, not the easy thing' and would help rebalance Australia's housing market.

'Because of the tax breaks that are there, it's not an equal process,' Mr Albanese said.

'Because if it's a matter of an extra $20,000 to bid or $30,000 to bid, they know that they can do that in the comfort that that will be an increase in their tax deduction, that all of you and every Australian taxpayer is their partner here.

'But if you're trying to buy your own home, you don't have that, and that is why, put it simply, we are reforming negative gearing and capital gains.'

He hit back at claims that the government was attacking aspiration.

'We will not allow Australia to become a country where aspiration is only for some,' Albanese said.

'Our reforms are about backing aspiration for all, bringing the great Australian dream of home ownership back in reach for a new generation.

'Our changes are pro-aspiration, and pro-supply, so we can help people get into a home of their own.'