Australia Targets Long-Term Crypto Gains Through New CGT Framework

Australia moved closer to changing its capital gains tax structure for cryptocurrencies and other assets. Bitcoin traded near $103,000 during the proposal discussions, while broader crypto markets remained stable. The government plans to replace the current 50% CGT discount with an inflation-indexed tax framework from 2027.

The proposed reform appeared ahead of Australia’s federal budget announcement scheduled for Tuesday night. Treasurer Jim Chalmers is expected to outline the full proposal during the fiscal budget presentation. The plan would directly affect cryptocurrencies, shares, and other long-term investment assets.

The government also plans to offer a…