Investors who bought the 20 most popular stocks six years ago would pay nearly double the amount of tax under Labor’s changes to capital gains tax, new analysis has found.
The controversial federal budget reforms, which are currently being examined by a Senate committee after passing the lower house on Thursday, will scrap the blanket 50 per cent capital gains tax discount and replace it with inflation indexation, and introduce a new minimum 30 per cent CGT rate.
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CGT is the tax paid on profit made when selling an asset held longer than 12 months, including property, shares, businesses and crypto.
Chris Brycki, founder of trading platform Stockspot, has crunched the numbers on how the…
