Capital Gains Tax in Australia: Before the Budget and After the Budget if Labor’s Changes Become Law
Australia’s capital gains tax system is facing what many accountants, investors and business owners describe as the biggest overhaul since the Howard Government reforms of 1999. The Federal Budget handed down by Treasurer Jim Chalmers proposes sweeping changes to how capital gains are taxed on investment properties, shares, businesses and trusts. If passed by Parliament, the reforms would significantly alter the incentives for investing and wealth creation across Australia. For many Australians, the key question is simple: what changes? The Current Capital Gains Tax System Under the current system, Australians...
