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Treasurer Jim Chalmers is expected to unveil proposed capital gains tax changes on Tuesday's budget night that would directly hit crypto investors. The centrepiece, according to the Australian Financial Review, is the removal of the 50% CGT discount currently applied to assets held for more than one year — a concession that has long softened the tax bill for long-term crypto holders.
If the proposal proceeds, investors who held Bitcoin, Ethereum, or any other digital asset through a full market cycle would face a materially higher effective tax rate on realised gains. The change would bring Australia's treatment of long-term crypto holdings closer to ordinary income, removing one of the key incentives for the buy-and-hold strategy that underpins most retail crypto portfolios.
The budget night announcement is expected to trigger significant repositioning discussions among Australian…
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