Australia plans capital gains tax changes affecting crypto investors: Report
The Albanese government’s budget plans to replace the 50% capital gains tax discount on assets held over 12 months with a model taxing full real gains adjusted for inflation.
The Australian government is reportedly seeking to replace capital gains tax discounts on crypto and other assets with an inflation indexation tax, which could increase the taxes on long-term crypto gains.
The Albanese government’s fiscal year 2027 budget, set to be released on Tuesday, would cut the current 50% capital gains tax discount alongside changes to housing investment taxes, the Australian Financial Review reported on Sunday, citing people familiar with the budget.
Australian investors can currently claim a 50% capital gains tax discount on assets held for more than 12 months. The proposed indexation model would instead tax full real gains, adjusted for inflation, over the time the asset is held.