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The 2026-27 Federal Budget proposed the biggest change to capital gains tax in a generation: replacing the 50% CGT discount with inflation indexation, and introducing a 30% minimum tax rate on real gains. Here's what's actually changing, when, and what it means if you hold shares or crypto.
First, the headline: none of this is law yet, and nothing changes for your FY25-26 return. But the proposed start date is 1 July 2027, and the design of the transition means your records this year matter more than ever.
What's proposed
Under the current rules, hold a CGT asset for 12 months and you halve your taxable gain. Under the proposal, from 1 July 2027:
- The 50% discount goes. Instead, your cost base is indexed for inflation, so you're only taxed on your real gain, not the part that's just inflation.
- A 30% minimum rate applies to net real capital gains accruing after 1 July 2027.
- It covers most CGT assets, including shares, units in trusts, investment property, and yes, crypto.
What happens to assets you already own
The proposal includes grandfathering: gains that accrued before 1 July 2027 keep their treatment under the current discount regime, and only growth after that date falls under the new rules. In practice, that means the value of your holdings around the changeover date becomes a critical number.
Why your records just became more valuable
Indexation is calculated parcel by parcel, from each parcel's acquisition date and cost base. If your buy history is scattered across brokers, DRP statements and old CSVs, the new regime makes that mess expensive: you can't index a cost base you can't prove.
That's true for crypto too. Every coin bought at a different time is its own parcel, and under the proposal each one indexes from its own date.
What to do now
- Nothing changes yet. It's a proposal, and the detail can change as legislation moves through.
- Get your cost bases complete for everything you hold, shares and crypto, while the history is still retrievable.
- Lodge FY25-26 normally. The current discount rules apply in full.
- Watch this space. We'll update this guide as the legislation firms up.
Summ keeps every parcel's date and cost base for you, across brokers, wallets and exchanges, the exact records the new regime will lean on.
This article describes proposed changes that are not yet law, and is general information, not tax or financial advice. Consult a registered tax professional before making decisions based on proposed legislation.
The information provided on this website is general in nature and is not tax, accounting or legal advice. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this information, you should consider the appropriateness of the information having regard to your own objectives, financial situation and needs and seek professional advice. Summ (formerly Crypto Tax Calculator) disclaims all and any guarantees, undertakings and warranties, expressed or implied, and is not liable for any loss or damage whatsoever (including human or computer error, negligent or otherwise, or incidental or Consequential Loss or damage) arising out of, or in connection with, any use or reliance on the information or advice in this website. The user must accept sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information in this website is no substitute for specialist advice.
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