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Australia will abolish the 50% CGT discount on crypto assets in July 2027, investors need to plan ahead

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Deep Tide TechFlow message: On July 17, according to Forbes, Australia has passed the “Taxation Laws Amendment (Tax Reform No. 1) Act 2026,” the most significant reform to its capital gains tax regime in more than 25 years. Starting July 1, 2027, the current 50% capital gains tax discount for assets held for over 12 months will be officially abolished, replaced by a cost base inflation indexation mechanism and a minimum 30% capital gains tax rate. Transitional provisions state that gains accumulated before July 1, 2027 can still be protected under the old rules, but investors must precisely distinguish gains under the new and old rules and keep complete records. Crypto holders are advised to organize their trading history and cost bases as early as possible, and consult a professional tax advisor to assess whether to dispose of the relevant assets ahead of the deadline to lock in tax advantages.
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