Australia Crypto Investors Face Possible CGT Tax Hike
The post Australia Crypto Investors Face Possible CGT Tax Hike appeared on BitcoinEthereumNews.com. Treasury may replace Australia’s 50% CGT discount with inflation indexation. Treasury estimates CGT concessions cost Australia AUD 21.8 billion yearly. Australia may limit negative gearing tax benefits to newly built homes under proposed reforms. Australia’s government is considering major changes to capital gains tax (CGT) and negative gearing ahead of Tuesday’s Federal Budget, sparking debate across the investment sector. During an appearance on Sky News, Treasurer Jim Chalmers said the proposed reforms seek to tackle housing affordability and “intergenerational unfairness”. However, critics argue the changes could increase taxes on shares, crypto, and investment properties. Australia May Replace 50% CGT Discount Treasury is reportedly considering reducing Australia’s 50% CGT discount or replacing it with an inflation indexation model. Under current rules, Australians who hold assets f