Upcoming Australian CGT (TAX) changes are DISASTROUS for Bitcoin holders with low cost basis

Proposed Australian CGT changes, based on the pre-1999 Howard era system, could double tax bills for Bitcoin holders by adjusting cost basis for inflation and removing the 50% capital gains tax discount. An example shows a $100,000 Bitcoin sale taxed at $23,500 under the current system, rising to $46,999.27 under the proposed changes.