A group of school students were rescued from a flooded campground after a sudden deluge across south-east Queensland and northern NSW.

Hundreds of millimetres of rain have fallen in both regions in the past two days, with multiple riverine flooding warnings in place on either side of the border.

Emergency services have carried out multiple rescues.

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Among them were a group of about 50 Year 12 students and teachers from North Lakes State College, who were on a camping trip at Mount Barney, near the Queensland-NSW border.

"During the return from activities, rapidly changing weather conditions impacted access to the camp accommodation site," the school said in a new statement posted to social media this morning.

"Emergency services, including the State Emergency Service (SES), Queensland Police Service (QPS), Queensland Fire Department (QFD) and Queensland Ambulance Service (QAS), assisted staff and students to safely return to the SES base.

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"Students and staff remained safe throughout the incident and were transported back to the College overnight, where students were reunited with their families."

This morning, the NSW SES also said it had responded to 197 incidents and carried out three rescues involving people and vehicles trapped in floodwaters at Numinbah, Brewongle, and Goongerry.

"We've already seen several flood rescues that could have ended very badly," SES Assistant Commissioner Dean Storey said.

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"Thanks to the quick response from NSW SES and our emergency service partners, everyone was brought to safety."

He said the SES continued to work with local communities to prepare for further flooding and rain, and urged people to avoid the roads.

"The safest thing people can do right now is stay where they are and avoid travelling until floodwaters go down," he said.

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Falls of up to 240mm were recorded in the cross-border region in the past couple of days.

"A near-stationary low pressure trough being fed with moisture-laden winds caused persistent and heavy showers over southeast Qld and northeast NSW on Sunday and Monday," Weatherzone said.

"Drier weather will return from Tuesday afternoon and night as the system moves off the country's east coast."

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Small business owners are taking to the internet to salute their new "business partner" – one Anthony Albanese.

The prime minister is featuring in a trending wave of AI-generated memes, where he is being mocked for this year's budget changes to the capital gains tax discount.

"Big shoutout to my silent business partner, Anthony," Cocobelle Beauty salon owner Michelle wrote on Facebook.

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"Emphasis on silent. He'll be taking 47 per cent of the profits without ever answering a phone, changing a treatment bed, or doing a Hydrafacial."

An AI-generated photo of Michelle and Albanese accompanied the caption.

It's one of a slew of memes touting the same "47 per cent figure".

The number refers to changes to the capital gains tax discount introduced in last week's federal budget.

Under the new measures, the 50 per cent CGT discount will end, leaving business owners facing the possibility of paying 47 per cent tax if they sell their company.

Treasurer Jim Chalmers has said the government will work to do right by start-ups and business founders, leaving open the possibility of exemptions to the rule.

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"We think you are a really important part of the economy, in lots of ways the hope of the side when it comes to dynamism and productivity, and we will reflect and recognise that in our policy," Chalmers said in parliament last week, addressing notional start-up founders.

The backlash to the police began – meme-wise, at least – in the tech sector, but has migrated to other small businesses.

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Multimillionaire Boost Juice founder Janine Allis was a vocal critic of 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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