Australia to Scrap 50% CGT Discount and Impose 30% Floor on Real Gains

By setting CPI indexation plus a 30% minimum on real gains, the plan would raise many crypto investors’ tax bills.

Overview

Labor’s 2027 budget proposes replacing the long‑term 50% capital gains discount with inflation indexation and a 30% minimum tax on real gains.
The changes would apply only to gains that build after July 1, 2027, and the current rules continue until Parliament enacts new law.
The package covers all capital gains assets, including cryptocurrency, shares, property, partnerships, trusts, and individual holdings.
Crypto tax advisers warn lower‑income investors could face larger bills because the 30% floor would exceed many taxpayers’ marginal rates after the old discount.
The plan must clear Parliament, with Labor short of a Senate majority and the Liberal opposition signaling resistance.