Australia to Abolish 50% CGT Discount on Crypto Assets in July 2027, Investors Need to Plan Ahead

TechFlow news, July 17, according to Forbes, Australia has passed the "Tax Laws Amendment Act 2026 (Tax Reform No. 1)", implementing the most significant reform of the capital gains tax system in over 25 years. Starting from July 1, 2027, the current 50% capital gains tax discount for assets held for more than 12 months will be officially abolished, replaced by a cost base inflation indexation mechanism and a minimum 30% capital gains tax rate. Transition clauses stipulate 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. Cryptocurrency holders are advised to organize transaction history and cost base as soon as possible, consult professional tax advisors, and evaluate whether to dispose of relevant assets before the deadline to lock in tax advantages.