Australia will abolish the 50 per cent capital gains tax discount on encrypted assets

Forbes reported that Australia, through its Tax Amendment Act 2026 (Tax Reform No. 1), abolished a 50 per cent capital gains tax discount on holding assets for more than 12 months with effect from 1 July 2027, moving to a cost-based inflation indexation mechanism and a minimum 30 per cent capital gains tax rate. The proceeds accumulated before 1 July 2027 are subject to the old rules and investors are required to distinguish between the proceeds of the old and the new rules and to keep records。