Australia is pushing for reforms to the capital gains tax applied to assets such as cryptocurrencies, CoinTelegraph reported. The Australian government plans to abolish the existing 50% tax discount system, which applied to assets held for over a year, and switch to a method that taxes the entire real profit, reflecting inflation. This raises the possibility of increased tax burden for long-term cryptocurrency investors. The reform plan is scheduled to take effect from July 2027, and some existing benefits will be maintained for assets acquired before May 10, 2026.
