AUSTRALIA COULD SCRAP 50% CRYPTO TAX DISCOUNT IN BIGGEST CAPITAL GAINS OVERHAUL IN YEARS The Australian government is set to release its 2027 budget on Tuesday. It will reportedly scrap the 50% capital gains tax discount for Australian crypto investors who hold assets longer than 12 months. Per reports, a full inflation-indexed tax on real gains would replace it. That could double the effective tax rate on long-term holdings from around 23.5% to nearly 47%, per the Australian Financial Review. The change would hit crypto, shares, and commercial property alike. Assets bought before May 10 get partial exemption. New rules take full effect in July 2027, with a one-year grace period for assets acquired after that date.