this post was submitted on 04 Jun 2026
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Can someone please explain the issue with the proposed CGT reform? (lemmy.ml)
submitted 1 week ago by cdzero@lemmy.ml to c/australia@aussie.zone
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I should start by saying, I am trying to find out information in good faith and have done a bit of research that was largely unproductive thanks to all the spin and "expert commentary".

My understanding is the new proposal would tax gains adjusted for inflation at 30%. I am also of the understanding that you could claim a 50% discount on this tax if you lived in a property it would apply within a timeframe. I am not sure how it was calculated for other asset classes.

So I guess my questions are, is the above correct? What were the old rules? What are the new rules? What's this 47% equity thing doing the rounds that just sounds incorrect?

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[–] FreedomAdvocate@lemmy.net.au 0 points 5 days ago* (last edited 5 days ago)

The old rules were if you held an investment for over 12 months, when you sold it you only had to pay tax on 50% of the gains. So if you bought $1k of shares and they went up in value after 12 months to $2k, you would only have to pay tax on $500.

Now, you will have to pay a minimum of 30% tax on the whole $1000 gain. That means you have to pay a minimum of $300 in tax on that $1000 gain, whereas before you might have had to pay 30% of $500, which is $150, so you’re basically 50% worse off now.

This affects everyone, not just the rich. It makes investing in anything in Australia much riskier and less enticing. Taking a lot of risk only for the government to potentially take half of your reward is disgusting. They don’t refund you 50% if your investment goes to $0.

Tl;dr - the issue is that the government is now going to steal even more of your hard earned money, so it will be even harder for anyone to get ahead.