50% capital gains tax discount
Coverage of 50% capital gains tax discount in the Nexus archive.
- Paul Keating urges Labor to stick with capital gains tax overhaul and avoid exemptions that would hurt economy
Former Australian Prime Minister Paul Keating urged the Labor Party to maintain its proposed capital gains tax reforms, warning that exemptions for commercial assets would harm the economy. The Albanese government's plan to replace the 50% capital gains tax discount with an inflation-based model faces opposition from small businesses and start-ups.
- 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.