Australia's recently announced budget scrapped the 50% capital gains discount for all investments, so from July 1, 2027, gains will be taxed at full income tax rates: 30% on income and gains between A$45,000 and A$135,000, 37% between A$135,000 and A$190,000, and 47% above that. Low-income earners who are not on welfare face a minimum 30% rate, and the only remaining discount covers inflation. In an example of buying Bitcoin for A$10,000 and selling a decade later for A$100,000, the inflation discount is only about A$3,439, so taxable gains rise from A$45,000 under the old system to A$86,561. The article outlines options such as hoping for a strong market rally before July 1, 2027, voting for parties pledging to reverse the changes, or moving holdings into a self-managed super fund (SMSF).
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