Capital gains tax from 1 July 2027

• Until 30 June 2027: hold shares for at least 12 months and only half the gain is taxed.
• From 1 July 2027: instead of halving the gain, the cost base is increased by inflation, so only the real gain is taxed. That real gain is taxed at a rate of at least 30%.
• Shares you already own: the gain is split at 1 July 2027. The part before keeps the 50% discount. The part after follows the new rules.

Individuals, trusts and partnerships, on shares, ETFs, crypto and other investments. Companies never had the discount, so they are not affected.

Your home is still exempt, and the government has said super is not changing. People on income support, including pensioners, don't pay the 30% minimum rate.

Indexation raises your cost base by how much prices in general went up while you held the shares, measured by the consumer price index (CPI). If your shares only kept pace with inflation, there is no real gain and nothing to tax.

This isn't new. Australia used indexation before the discount came in, in 1999.

You don't pay anything on 1 July 2027, and you don't have to sell. The law treats the shares as sold on 30 June 2027 and bought back on 1 July, but the tax on the part before only falls due when you really sell.

To split the gain you need a value for that day. The law lets you use the market value on 1 July 2027, or an apportionment method instead of a valuation. For shares listed on the ASX, the market value is simply their price on the day.

Keep your purchase records. You still need the date and cost of every purchase to work out the part before 1 July 2027.

Made-up figures, ignoring brokerage, for someone who isn't on income support:

• You buy 100 shares for $4,000 in July 2020.
• On 1 July 2027 they are worth $6,000.
• You sell them for $7,000 in July 2029.

Before 1 July 2027: a gain of $2,000. You held them for more than 12 months, so half of it, $1,000, is taxed.

After 1 July 2027: a gain of $1,000 on the $6,000 value. If prices rose 3% a year over those two years, indexation raises the $6,000 to about $6,365, leaving a real gain of about $635. That $635 is taxed at your usual rate, or 30% if your rate is lower.

The 3% is only for the example. The real figure comes from the consumer price index over the time you held the shares.

Portfoli keeps the date and cost of every purchase and works out the gain on each sale for every financial year, with every step shown. Sales up to 30 June 2027 use the current rules.

For a single sale, try the free capital gains calculator. For all your sales across your platforms, start free.

• ATO, Reforming negative gearing and capital gains tax (updated 29 June 2026)
• Treasury Laws Amendment (Tax Reform No. 1) Act 2026 (Act No. 49 of 2026)
• Treasurer, Tax reform for workers, businesses and future generations (12 May 2026)

Some details, such as how the apportionment method is worked out, are still being settled in ATO guidance. Check with a registered tax agent before you act.