Australia to reform crypto capital gains tax

Australia is pushing to reform its capital gains tax on assets, including cryptocurrencies, Cointelegraph reported. The Australian government plans to eliminate the existing 50% tax discount for assets held for over a year, switching to a system that taxes the entire real gain after adjusting for inflation. This change is expected to increase the tax burden for long-term crypto investors. The proposed reforms are scheduled to take effect in July 2027, though some existing benefits will be maintained for assets acquired before May 10, 2026.